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CMA Foundation Fundamentals of Laws and Ethics- Indian Contract Act 1872 In this Video post, CA/ CMA Foundation  aspirants will learn about the Indian Contract Act 1872.- Fundamentals of Laws and Ethics .   Basic about Indian Contract Act 1872 The Indian Contract Act is one of our country's earliest mercantile laws.   The Indian Contract Act, 1872 was authorized on 25th April 1872 [Act 9 of 1872] and accordingly came into power on the primary day of September 1872. and it applies to the whole country of India, with the exception of Jammu and Kashmir. It is the primary legislation governing contracts in India, with a total of 266 provisions.   The Indian Contract Act classifies the manner in which we go into an agreement, execute an agreement and actualize arrangements of an agreement and impacts of break of an agreement. The legally binding limit is confined in specific circumstances else it is the privilege of the person to contract. There are explicit zones that manage the proper

CA Foundation Law - Indian Contract Act 1872 Video Lectures CA Foundation Law  Mercantile law-Indian Contract Act 1872   What is Mercantile Law?   Mercantile law means the laws which regulate trade and commerce. These laws are an integral part of social life.   Indian Mercantile Laws is an outcome of British law. It is further classified into contract act, sale goods act, and Indian partnership act   What is a Contract? ” The Indian Contract Act deals with the enforcement of rights and duties on the contracting parties. ”   Contract means an agreement between any two persons. The Indian Contract Act deals with the enforcement of rights and duties on the contracting parties.   Extent and Applicability-  Law related to contracts in India is contained in the Indian Contract Act 1872, which was passed by British India and is based on the Principles of English common law.   The contract requires the following points-   1.  Two Parties- There must be at least two parties to constitute a cont