Describe essential elements of Indian Contract Act 1872 & its application, in Hospital & Medical services.
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The Indian Contract Act, 1872 prescribes the law relating to contracts in India. The Act is based on the principles of English Common Law. It is applicable to all the states of India except the state of Jammu and Kashmir. It determines the circumstances in which promises made by the parties to a contract shall be legally binding. Under Section 2(h), the Indian Contract Act defines a contract as an agreement which is enforceable by law.
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