Contract : It is an understanding or agreement by a person or a firm to do any work under certain terms and conditions. The work may be for the construction, maintenance & repair, for the supply of materials, for the supply of labor, etc. A contract is an agreement which can be enforced by law. In order to make this agreement valid, there must be a definite offer and equally definite and unconditional acceptance of this offer. As per The Indian Contract Act, of 1872 section 2(a), Proposal : When…
What is Contract ? Requirements of Valid Contract ?
