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Section 2 — Definitions
2
2
Definitions
Indian Contract Act
Preliminary
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Reviewed by Adv. Shailendra Babbar, Seasoned Advocate · Practicing since 31 years🗣️ Simple Explanation
This section defines important terms used in the Contract Act. It explains what a proposal, acceptance, promise, and agreement are. Basically, it lays the groundwork for understanding how contracts are formed.
💡 Real Life Example
A offers to sell his car to B for ₹50,000. This is a proposal. If B agrees, it's an acceptance, and they have an agreement.
🛡️ KNOW YOUR RIGHTS
- •Understand the basic terms of contract law to protect yourself in agreements.
- •Know the difference between a proposal and an acceptance.
Sources & References
📒 Legal text sourced from The Gazette of India & AdvocateKhoj Bare Acts Library
⚖️ Content reviewed by Adv. Shailendra Babbar, Seasoned Advocate, with 31 years of legal practice
📚 Act Reference: Indian Contract Act
Disclaimer: This content is for informational purposes only and does not constitute legal advice. Consult a qualified advocate for specific legal matters.
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