Contract Laws Business Regulations
Unit 2 CONTRACT LAWS 18 Hrs A. Indian Contract Act, 1872: Definition of contract, essentials of valid contract, classification of contract, remedies for breach of contract Termination and Discharge of Contract; Indemnity and Guarantee; Bailment and Pledge; Law of Agency. B. Sale of Goods Act, 1930: Definition of contract of sale, essentials of contract of sale, Conditions and warrantees, right and duties of buyer, right of unpaid seller Indian Contract Act 1872: Part I The Indian Contract Act came into effect on the 1st of September 1872 and is applicable to the whole of India with the exception of Jammu & Kashmir. Containing a total of 266 sections it is the principal law regulating contracts in India. Contract Act is one of the central l aws that regulate and oversee all the business wherever there is a case of a deal or an agreement. The Indian Contract Act, 1872 defines the term “Contract” as “An agreement enforceab...