THE INDIAN CONTRACT ACT, ______. ARRANGEMENT OF SECTIONS. ______. SECTIONS. PREAMBLE. PRELIMINARY. 1. Short title. Extent. The Indian Contract Act, (Act no. 9 of ). CONTENTS. Preamble. Preliminary. 1. Short title. 2. Interpretation clause. Chapter I Of the communication . Full text containing the act, Indian Contract Act, , with all the sections, schedules, short title, enactment date, and footnotes.
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Updated Bare Act of Indian Contract Act in a systematic way with direct Here is a beautiful made PDF for Indian Contract Act that you can download. The Indian Contract Act, prescribes the law relating to contracts in India. The Act is based .. External links. PDF file of the Act. INDIAN CONTRACT ACT, 2. CHAPTER. INTRODUCTION. In commercial life promises are made. Sometimes, promises are honoured but sometimes.
It is expressed in writing and registered under the law for the time being in force for the registration of documents and is made on account of natural love and affection between parties standing near relation to each other, or unless 2.
It is promise to compensate, wholly or in part, a person who has already voluntarily done something for the promisor, or something which the promisor who legally compellable to do; or unless 3. It is a promise, made in writing and signed by the person to be charged therewith, or by his agent generally or specially authorized in that behalf, to pay wholly or in part a debt of which the creditor might have enforced but for the law for the limitation of suits.
In any case of these cases, such an agreement is a contract.
Guest, Principles of the Law of Contract, 22nd Ed. The following conditions need to be satisfied in order to cover this exception: 1. The parties to the agreement must be standing in a near relationship to each other.
The promise should be made to one party out of natural love and affection for the other.
The promise should be in writing and registered. The near relationship has not been defined by act or any judicial pronouncement. But, from the various decisions we can see that it covers blood relations49 and relations made through matrimony50, but would not include such relations which are not near, but remotely entitled to inherit. Like in Rajlucky Dabee v Boothnath Mookerjee,52 after a lot of quarrels and disagreements between the parties who were Hindu husband and wife decided to live apart.
Later the husband executed a document giving the wife separate residence and maintenance. The agreement also included mention of the quarrels and disagreements between the two. A asks B to download some things for the shop. B should use only legal means to obtain those things.
B cannot steal or do something which is illegal. In an emergency an Agent would act as a prudent man and react in the way as he would have done if he himself would have been in the same situation. A asks B to take the vegetables to Kolkata to sell them. On his way to Kolkata, B finds that the vegetable may rot after two days.
B has the authority to sell them in Lucknow to protect the interest of profits to be earned by A. An Agent has personally undertaken the responsibility to discharge the duties delegated to him.
He cannot further delegate the function.
There are various duties of an Agent towards his Principal: He must follow the directions of the Principal. Illustration- A contracts to pay to B Rs. This is a contingent contract.
Enforcement of Contracts contingent on an event happening. Contingent contracts to do or not to do anything in an uncertain future event happens, cannot be enforced by law unless and until that event has happened. Obligations of parties to contract.
The parties to a contract must either perform, or offer to perform, their respective promises, unless such performance in dispensed with or excused under the provision of this Act, or of any other law. Promises bind the representative of the promisor in case of the death of such promisors before performance, unless a contrary intention appears from the contract.
Claim for necessaries supplied to person incapable of contracting, or on his account. If a person, incapable of entering into a contract, or anyone whom he is legally bound to support, is supplied by another person with necessaries suited to his condition in life, the person who has furnished such supplies is entitled to be reimbursed from the property of such incapable person.
Compensation of loss or damage caused by breach of contract.
When a contract has been broken, the party who suffers by such breach is entitled to receive, form the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew, when they made the contract, to be likely to result from the breach of it. This Chapter has been repealed by the Sale of Goods Act, 3 of sec Here is the link for Sale of Goods Act, , Section Illustration- A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of rupees.
This is a contract of indemnity. Who may employ agent. Any person who is of the age of majority according to the law to which he is subject, and who is of sound mind, may employ an agent. II] Here is the link for Partnership Act, II] Keep Reading…. Type short e. Skip to content. Indian Contract Act, If you wish to search for any section, please use the search box.
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