1. Short title. This Act may be called be the Indian Contract Act, 1872. Extent, commencement– It extends to the whole of except the State of Jammu and Kashmir; and it shall come into force on the first day of September, 1872. (The words “except the State of Jammu andKEEP READING

2. Interpretation-clause. In this Act the following words and expressions are used in the following senses, unless contrary intention appears from the context: (a) When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that otherKEEP READING

3. Communication, acceptance and revocation of proposals. The communication of proposals, the acceptance of proposals, and the revocation of proposals and acceptance, respectively, are deemed to be made by any act or omission of the party proposing, accepting or revoking, by which he intends to communicated such proposal, acceptance orKEEP READING

4. Communication when complete. The communication of a proposal is complete when it becomes to the knowledge of the person to whom it is made.  The communication of an acceptance is complete- as against the proposer, when it is put in a course of transmission to him so at to beKEEP READING

5. Revocation of Proposals and acceptance. A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards.  An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, butKEEP READING

6. Revocation how made. A proposal is revoked- (1) by the communication of notice of revocation by the proposer to the other party; (2) by the lapse of the time prescribed in such proposal for its acceptance, or, if no time is so prescribed, by the lapse of a reasonableKEEP READING

7. Acceptance must be absolute. In order to convert a proposal into a promise the acceptance must- (1) be absolute and unqualified. (2) be expressed in some usual and reasonable manner, unless the proposal prescribes the manner in which it is to be accepted. If the proposal prescribes a mannerKEEP READING

8. Acceptance by performing conditions, or receiving consideration. Performance of the conditions of proposal, for the acceptance of any consideration for a reciprocal promise which may be offered with a proposal, is an acceptance of the proposal. Read Contract Act in a systematic way. Read Contract Act each section wise.KEEP READING

9. Promise, express and implied. In so far as the proposal or acceptance of any promise is made in words, the promise is said to be express. In so far as such proposal or acceptance is made otherwise than in words, the promise is said to be implied. Read ContractKEEP READING

10. What agreements are contracts? All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Nothing herein contained shall affect any law in force inKEEP READING

11. Who are competent to contract? Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is sound mind and is not disqualified from contracting by any law to which he is subject.  Read Contract ActKEEP READING

12. What is a sound mind for the purposes of contracting? A person is said to be of sound mind for the propose of making a contract, if, at the time when he makes it, he is capable of understanding it and of forming a rational judgement as to itsKEEP READING

13. “Consent” defined. Two or more person are said to consent when they agree upon the same thing in the same sense.  Read Contract Act in a systematic way. Read Contract Act each section wise. Download beautiful, mobile friendly Contract Act PDF.KEEP READING

14. “Free consent” defined. Consent is said to be free when it is not caused by- (1) coercion, as defined in section 15, or (2) undue influence, as defined in section 16, or (3) fraud, as defined in section 17, or (4) misrepresentation, as defined in section 18, or (5)KEEP READING

15. “Coercion” defined. “Coercion” is the committing, or threatening to commit, any act forbidden by the Indian Penal Code or the unlawful detaining, or threatening to detain, any property, to the prejudice of any person whatever, with the intention of causing any person to enter into an agreement. Explanation- ItKEEP READING

16. “Undue influence” defined. (1) A contract is said to be induced by “under influence” where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage overKEEP READING