Indian Contract Act

The Indian Contract Act, 1872 is a key piece of legislation that governs contracts in India. It defines what constitutes a valid contract, outlining essential elements like offer, acceptance, consideration, and intention to create legal relations. The Act specifies the rights and obligations of parties involved and describes how contracts can be enforced or voided. It also addresses issues related to performance, breach, and remedies. Overall, it provides a legal framework ensuring that agreements are fair, clear, and enforceable, fostering trust and stability in commercial transactions.