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
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