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1. Short title.—This Act may be called the Indian Contract Act, 1872. Extent, Commencement.—It extends to the whole of India 2[ 3***]; and it shall come into force on the first day of September, 1872.
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A contract to do an act which, after the contract is made, becomes impossible, or, by reason of some event which the promissor could not prevent, unlawful, becomes void when the act becomes impossible or unlawful.
The Contract Act, 1872 is a law that defines and amends the law relating to contracts in Bangladesh. It covers topics such as communication, acceptance, revocation, void agreements, contingent contracts, performance, breach, and consequences of contracts.
THE CONTRACT ACT, 1872. CONTENTS. PREAMBLE PRELIMINARY. SECTIONS. Short title Extent Commencement Enactments repealed. Interpretation-clause. CHAPTER I. OF THE COMMUNICATION, ACCEPTANCE AND REVOCATION OF PROPOSALS. 3. Communication, acceptance and revocation of proposals. 4. Communication when complete. 5. Revocation of proposals and acceptances.
Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. Explanation - An erroneous opinion as to the value of the thing which forms the subject-matter of the agreement is not to be deemed a mistake as to a matter of fact.
The Indian Contract Act, 1872 prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding ...
