INDIAN CONTRACT ACT 1872 UNIT 1 (A EXPERIMENT BLOG, FOR RESEARCH PURPOSES) ALL THE TOPICS THAT ARE IN CA FOUNDATION BUSINESS LAW 1st CHAPTER'S UNIT 1 IS HERE - 1. CONTRACT - DEFINITION SECTION 2(H), AGREEMENT AND ENFORCEABILITY BY LAW THIS IS A SMALL BUT IMPORTANT TOPIC AND IS BASICALLY A INTRODUCTION TO THE OVERALL CHAPTER AS IT CONSTITUTES THE DEFINITIONS {SECTION2} WHICH INCLUDES PROMISE, DIFFERENCE BETWEEN AGREEMENT AND CONTRACT ETC. 2. ESSENTIAL ELEMENTS OF CONTRACT WHICH ARE MENTIONED IN SECTION 10 AND NOT MENTIONED IN SECTION 10 THIS TOPIC HAS SOME POINTS WHICH ARE IMPORTANT LIKE ELEMENTS OF CONTRACT - 2PARTIES, FREE CONSENT, MUST INTEND TO CREATE LEGAL RELATIONSHIP, CERTAINTY OF MEANING which means agreement should be definite, for example - a agrees to b that he will sell oil to him but in the above example, there is no mention of which oil specifically so this should be kept in mind while making a contract and keep your priorities straight man., FORMALITIES, POSSIBIL
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