Vidhi_bodh !!

INDIAN CONTRACT ACT, 1872 Chapter- 3 Section- 31 [Contingent contract defined] A “contingent contract” is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen. Section- 32 [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. If the event becomes impossible, such contracts become void. Section- 33 [Enforcement of contracts contingent on an event non happening] Contingent contracts to do or not to do anything if an uncertain future event does not happen, can be enforced when the happening of that event becomes impossible, and not before. Section- 34 [When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person] If the future event on which a contract is contingent is the way in which a person will act at

INDIAN CONTRACT ACT, 1872 Chapter- 2 Section- 10 [What agreements are contract] All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Section- 11 [Who are competent to contract] Every person is competent to contract who is of the age of majority according to the law to which he is subject , and who is of sound mind and is not disqualified from contracting by any law to which he is subject. Section- 12 [What is a sound mind for the purpose of contracting] A person is said to be of sound mind for the propose of making a contract, if, at the time when he makes it, he is capable of understanding it and of forming a rational judgement as to its effect upon his interest.A person who is usually of unsound mind, but occasionally of sound mind, may make a contract when he is of sound mind. A person who is usually of sound mind, but occ

INDIAN CONTRACT ACT, 1872 Chapter - 1 • {Contains section 3 - 9} Section- 3 [ Communication, Acceptance and revocation of proposals ] The communication of proposals, the acceptance of proposals, and the revocation of proposals and acceptance, respectively, are deemed to be made by any act or omission of the party proposing, accepting or revoking, by which he intends to communicated such proposal, acceptance or revocation, or which has the effect of communicating it. Section - 4 [ Communication when complete ] The communication of a proposal is complete when it comes to the knowledge of the person to whom it is made. The communication of an acceptance is complete,— • as against the proposer, when it is put in a course of transmission to him so as to be out of the power of the acceptor; • as against the acceptor, when it comes to the knowledge of the proposer. The communication of a revocation is complete,—•as against the person who makes it, when it is put into a course of

INDIAN CONTRACT ACT, 1872 (Preliminary) • {Contains section 1 and 2} Preamble Whereas it is expedient to define and amend certain parts of the law relating to contracts; It is hereby enacted as follows: Section- 1 [ Short title ] This Act may be called the Indian Contract Act, 1872. Extent, Commencement. -It extends to the whole of India 1[except the State of Jammu and Kashmir]; and it shall come into force on the first day of September 1872. Saving.- 2[* * *] Nothing herein contained shall affect the provisions of any Statute, Act or Regulation not hereby expressly repealed, nor any usage or custom of trade, nor any incident of any contract, not inconsistent with the provisions of this Act. 1. Subs. by Act 3 of 1951, sec. 3 and Sch., for “except Part B States”. 2. The words “The enactments mentioned in the Schedule hereto are repealed to the extent specified in the third column thereof, but” rep. by Act 10 of 1914, sec. 3 and Sch. 11. Section - 2 [ Interpretation Clause