A REVIEW OF THE INDIAN CONTRACT ACT, 1872 AND ESSENTIAL ELEMENTS OF A VALID CONTRACT

Authors

  • Pooja

Keywords:

INDIAN, VALID CONTRACT

Abstract

As a result of increasing complexities of business environment, innumerable contracts are entered into by the parties in the usual course of carrying on their business. 'Contract' is the most usual method of defining the 'give and take' rights and duties in a business transaction. This branch of Private law is different from other branches of law in a very important respect. It does not prescribe so many rights and duties, which the law will protect or enforce; it contains a number of limiting principles subject to which the parties may create rights and duties for themselves. In a sense, parties to a contract are the makers of law for themselves. They can frame any rules they desire to the subject matter of their agreements, and law takes cognizance of their decision unless they are not legally prohibited.

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Published

30-06-2014

How to Cite

Pooja. (2014). A REVIEW OF THE INDIAN CONTRACT ACT, 1872 AND ESSENTIAL ELEMENTS OF A VALID CONTRACT. International Journal for Research Publication and Seminar, 5(1), 67–75. Retrieved from https://jrps.shodhsagar.com/index.php/j/article/view/42

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Section

Original Research Article