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Ananya Nandy   20 May 2019

All agreements are not contract, but all contracts are agreement

How to explain it?


 1 Replies

Akshay (Advocate)     10 February 2020

Hi

Thank you for asking this question

All agreements are not contract, but all contracts are agreement, it is true according to section 2(h) of Indian Contract Act , 1872  which says "An agreement enforceable by law becomes contract".

Section 10 of Indian Contract Act -" All agreement are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and not hereby expressly declared to be void".

The following essentials alements must co-exist in order to make a valid contract:

1. Proper offer and proper acceptance with intention to create legal relationship.

2. Lawful consideration

3. Capacity

4. Free consent

5. Lawful agreement 

Hope this will help 

Best regards 

Akshay Gupta


 


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