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Sections of Indian Contract Act, 1872

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Section 1 - Short Title

This Act may be called the Indian Contract Act, 1872. Extent, commencement-It extends to the whole of India except the State of Jammu and Kashmir; and it shall come into force on the first day of September, 1872. Nothing herein contained shall affect the provisions of any Statute, Act or Regulation not hereby expressly repealed, nor any usage or custom or trade, nor any incident of any contract, not inconsistent with the provisions of this Act.

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Section 2 - Interpretation Clause

In this Act the following words and expressions are used in the following senses, unless contrary intention appears from the context:

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Section 2 (a) - Proposal

When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that either to such act or abstinence, he is said to make a proposal;

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Section 2 (b) - Acceptance, Promise

When the person to whom the proposal is made, signifies his assent thereto, the proposal is said to be accepted. A proposal, when accepted, becomes a promise;

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Section 2 (c) - Promisor, Promisee

The person making the proposal is called the promisor, and the person accepting the proposal is called promisee

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Section 2 (d) - Consideration

When, at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise;

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Section 2 (e) - Agreement

Every promise and every set of promises, forming the consideration for each other, is an agreement;

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Section 2 (f) - Reciprocal Promises

Promises which form the consideration or part of the consideration for each other, are called reciprocal promises;

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Section 2 (g) - Void Agreement

An agreement not enforceable by law is said to be void;

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Section 2 (h) - Contract

An agreement enforceable by law is a contract;

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Section 2 (i) - Voidable Contract

An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract;

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Section 2 (i) - Void Contract

A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable.

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Section 3 - Communication, Acceptance and Revocation of Proposal

The communication of proposals, the acceptance of proposals, and the revocation of proposals and acceptances, respectively, are deemed to be made by any act or omission of the party proposing, accepting or revoking, by which he intends to communicate such proposal, acceptance or revocation, or which has the effect of communicating it.

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