Question

what is contract? explain the essential ​

Answer 1

Answer:

A contract is an agreement which creates an obligation between the parties. The Indian Contract Act, 1872 defines the term contract as “an agreement enforceable by law”. Thus, Contract = Agreement + Enforceability. Essential Elements of a Valid Contract.

Explanation:

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Answer 2

Answer:

A contract is an agreement which creates an obligation between the parties. The Indian Contract Act, 1872 defines the term contract as “an agreement enforceable by law”. Thus, Contract = Agreement + Enforceability. Essential Elements of a Valid Contract