define the process of a contract discuss the rules relating to performance of contract
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Explanation:
Performance within a reasonable time (Sec.
46 states that “Whereby the contract, a promisor is to perform his promise without application by the promisee and no time for performance is specified, the engagement must be performed within a reasonable time.”
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As a promisor and promise are essential to a contract, so are the time and place of the performance of contract. If a time and place for the performance of contract are agreed upon, then the promisor should perform the promise accordingly. If not, then it should be performed at a reasonable place and time. The Indian Contract Act, 1872, specifies some rules regarding the time and place for the performance of contract under sections 46 – 50.
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