Indian Contract Act, 1872 was drafted in order to provide guidelines for the Indian citizens involved in business transactions or legal relationships to come into legally binding agreements. The Act provides detailed documentation on what the terms should be for initiating this type of contract, where they will be legalized, where they will be null and void, and what the limitations and extents of the contracts should include. The law also dealt with properties that were to be sold or were considered moveable, the terms of indemnity, guaranteed deals, agencies, relationships between partners, bails, and so on.
The Indian Contract Act 1872
In this article the Indian Contract Act, 1872 is discussed along with the examples, meanings, and interpretations of the terms and conditions and the legal legislation.