Indian Contract Act, 1872

CHAPTER X: AGENCY – Appointment and authority of agents Section 182: “Agent” and “principal” defined Legal Text: “An ‘agent’ is a person employed to do any act for another, or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called the ‘principal’.” […]

CHAPTER IX: OF BAILMENT (Introduction) Section 148: “Bailment”, “bailor” and “bailee” defined Legal Text: “A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them.

CHAPTER VIII: OF INDEMNITY AND GUARANTEE (This chapter is ACTIVE and NOT REPEALED) Section 124: “Contract of indemnity” defined Legal Text: “A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a

CHAPTER V: OF CERTAIN RELATIONS RESEMBLING THOSE CREATED BY CONTRACT This chapter is famously known as “Quasi-Contracts.” These are not real contracts. There is no offer, no acceptance, no agreement. Instead, this is the law imposing an obligation on one person to prevent “unjust enrichment” (one person getting an unfair benefit at another’s expense). Section

CHAPTER IV: OF THE PERFORMANCE OF CONTRACTS This chapter explains what it legally means to fulfill your promise. Contracts which must be performed Section 37: Obligation of parties to contracts This is the most fundamental rule of performance. Part 1: The Obligation to Perform Legal Text: “The parties to a contract must either perform, or

CHAPTER III OF CONTINGENT CONTRACTS Section 31: “Contingent contract” defined Legal Text: “A ‘contingent contract’ is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.” Simple English: A “contingent contract” is an “if-then” deal. The main promise of the contract only has to

CHAPTER II OF CONTRACTS, VOIDABLE CONTRACTS AND VOID AGREEMENTS Section 10: What Agreements are Contracts This is the master checklist for a valid contract. The Main Rule: Legal Text: “All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object,

Section 3: Communication, Acceptance, and Revocation Legal Text: “The communication of proposals, the acceptance… and the revocation… are deemed to be made by any act or omission… by which he intends to communicate… or which has the effect of communicating it.” Simple English: To make an offer, accept an offer, or take back (revoke) an