Ch 1 · Indian Contract Act, 1872 — General Principles

📘 Core concepts

1. 1Contract = Agreement + Enforceability by law (Sec 2(h)).
2. 2Essentials: offer, acceptance, consideration, capacity, free consent, lawful object, not declared void.
3. 3Offer (Sec 2(a)): proposal made with intent to obtain assent.
4. 4Acceptance (Sec 2(b)): must be absolute, unqualified, communicated.
5. 5Consideration (Sec 2(d)): something in return; past, present or future; need not be adequate.