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Nature of Contract

Nature of Contract

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Published by Rishab Mehta

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Published by: Rishab Mehta on Feb 22, 2012
Copyright:Attribution Non-commercial

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03/05/2013

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Corporate & Business Law
THE INDIAN CONTRACT ACT,1872
 
WHAT
IS L
AW?
 
Law
consists of 
rules
th
a
t regul
a
te theconduct of individu
a
ls, businesses,
a
ndother org
a
niz
a
tions
w
ithin society.
Law
me
a
ns
a
ny
rule
of conduct,
standard
or 
pattern
, to
w
hich
a
ctions
a
re requiredto conform.
 
O
BJEC
T
 
OF
L
AW
Object of law is the creation and protection of legal rights to
maintain order
in the society.
eeping the
p
eace
.
S
haping moral
s
tandard
s
.
P
romoting
s
ocial ju
s
tice
M
aintaining
the
s
tatu
s
quo
F
acilitating orderly
change
Maximizing
individual freedom

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