CorporateAct No. 9 of 1872In Force

The Indian Contract Act, 1872

The foundational legislation governing the law of contracts in India. It codifies the essential elements of a valid contract — offer, acceptance, consideration, capacity, free consent, and lawful object — and governs special contracts such as indemnity, guarantee, bailment, pledge, and agency. Every commercial relationship in India is ultimately grounded in this Act.

Sections

238

Ministry

Ministry of Law and Justice

Last Amended

1997-01-01

Key Provisions

→Essentials of a valid contract: offer, acceptance, consideration, capacity

→Free consent — coercion, undue influence, fraud, misrepresentation, mistake

→Void, voidable, and unenforceable contracts

→Performance and discharge of contracts

→Breach and remedies: damages, quantum meruit, specific performance

→Contract of indemnity and guarantee — rights of surety

→Bailment and pledge — rights and liabilities of bailor and bailee

→Agency: creation, authority, ratification, and termination

Related Practice Areas

corporate-advisory commercial-litigation employment-law

contractoffer and acceptanceconsiderationbreachdamagesindemnityguaranteeagencybailment

Section-by-Section Reference

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Free Consultation

Indian government legislation is in the public domain under S.52(1)(q) of the Copyright Act, 1957. This reference is for educational purposes. Laws are amended frequently — verify the current text on the e-Gazette of India before relying on it for legal proceedings.