As a professional, I know that when it comes to writing articles about legal topics, it is important to use keywords and phrases that people are likely to search for. In this case, the topic is “agreement is defined under which section of the Indian Contract Act, 1872.”
First, let`s break down the keywords:
– Indian Contract Act, 1872
The first step in any SEO article is to make sure that these keywords are included in the title and throughout the article itself. However, it is also important to make sure that the article provides valuable information to the reader.
So, let`s dive into the topic at hand.
The Indian Contract Act, 1872 is a piece of legislation that governs the law of contracts in India. It defines what a contract is, what constitutes a valid contract, and what legal obligations arise from contracts.
One of the most important concepts in contract law is that of an agreement. An agreement is essentially a meeting of the minds between two or more parties, where they agree to do or not do something in exchange for something else.
So, where is agreement defined under the Indian Contract Act, 1872?
The answer is in section 2(e) of the Act, which defines an agreement as “every promise and every set of promises, forming the consideration for each other.”
This may sound like a bit of legal jargon, but it essentially means that an agreement is a promise or set of promises between parties, where each promise is made in exchange for something else. This is what forms the consideration for the agreement.
It is important to note that not all agreements are contracts. In order for an agreement to be legally binding, it must meet certain requirements, such as having a lawful object and being entered into by parties who have the legal capacity to do so.
In conclusion, the definition of agreement under the Indian Contract Act, 1872 can be found in section 2(e) of the Act. While this may seem like a small detail, understanding the definition of agreement is crucial for understanding the broader concepts of contract law in India.