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All Contracts Are Agreement But All Agreements Are Not Contract And Provide Two

At the time of an agreement, if a person is of an unhealthy mind or is disqualified by law; the agreement is considered inconclusive. On the other hand, an agreement with a minor is not concluded from the outset and therefore cannot be enforced. For example, if a 7-year-old boy buys an ice cream; although he enters into an agreement with the ice cream seller, he is not considered a contract, since he is a minor; The game is not in a position to be treated. (little) According to the Indian Contract Act 1872, this assertion is also correct. The conclusion of Section 2, point h), also supports this conclusion. In accordance with section 2 h) of the contract, two elements are required. An agreement [section 2]] If a 7-year-old boy buys ice cream from an ice cream vendor and there are 10 outlets, it becomes an agreement. This is because the boy offers to buy ice cream and the seller accepts the offer that makes it a promise. Both were about ice and money. (ii) SALMOND CONTRAT: is an agreement that creates definition obligations between the parties. Legally, a contract is a legally binding agreement between two or more parties which, if it contains the elements of a valid legal agreement, is enforceable by law [3] or by binding arbitration. A legally enforceable contract is an exchange of specific commitments and remedies in the event of an infringement.

These may be compensatory funds for which the defaulting party is required to pay funds that would otherwise have been exchanged in the case of a contract, or an appropriate remedy, such as the special benefit, in which the person who entered into the contract is required to take the specific act that he did not perform. Contract – According to Article 2 (h) of the Indian Contracts Act, “a legally enforceable agreement is a contract.” Treaties and agreements are linked in many ways. The treaties mean that, in some areas, the agreement is such that it is whether or not it is national or international aspects of the agreements. By extension [1], the contract is an agreement between two or more competent parties, in which an offer is made and accepted and each party benefits from it. The agreement can be understood formally, informally, in writing, orally or simply clearly. Some contracts must be entered into in writing to be enforced. Examples of a contract are a lease, a change of contract or a lease. [2] According to the lawyer Sir John John Salmond, a contract is “an agreement that creates and defines obligations between two or more parties” The above definitions are that a contract essentially consists of two elements: – As noted above, an agreement for the conclusion of a contract must constitute a legal obligation.