Indian Contract Act

1872

Contract Section 2(h)

Agreement enforceable by law is a contract.

Agreement Section 2(e)

Section

2(e)- Every promise and set of

promises forming consideration each other, is
an agreement.

Consideratio
n

Promise - Section 2 ( b)
Section 2 ( b) Proposal when accepted

become promise

Proposal

Proposal- Section 2(a)

Section 2(a) - When one person signifies to

other his willingness to do or to abstain from

doing anything, with a view to obtaining the
assent of that other to such act or abstinence,
he is said to make a proposal

Acceptance- Section 2(b)

Section 2(b)- When the person to whom the

proposal is been made signifies his assent

thereto, the proposal is said to be accepted.
Section 2 (c)- The person making proposal is

called as promisor, and the person accepting

the proposal is called the promisee.
Section 2 (d)- Consideration.

Agreement
Law
Contract

Offer
Acceptance
of Offer
= Promise
Promises
forms
consideration
for each other

Essentials of Valid
Contract
Age of Majority

Two Parties.
Capacity of Parties

Essentials of Valid
Contract
Intention to Create Legal Relationship
Casual Approach

Essentials of Valid Contract

Offer

Essentials of Valid
Contract
Free Consent

Consent:- Two or more person agree upon

same thing with same sense.

Essentials of Valid
Contract
Legal Formalities

Essentials of Valid Contract

Two Parties.
Capacity of Parties
Intention to Create Legal Relationship
Offer
Acceptance
Lawful Consideration
Lawful Object
Free Consent
Legal Formalities

Offer
Communication of Offer:- It can be done by

any way which has effect of communicating it.