The Indian Contract Act, 1872

The Indian Contract Act, 1872 is a comprehensive legislation that governs the legal rules and regulations for contracts in India. The act defines and lays down the guidelines for the formation and performance of contracts, rights and obligations of the parties involved, rules for breach of contract, and remedies available for the parties in case of breach of contract. The act also includes provisions related to specific contracts such as indemnity, guarantee, bailment, and pledge. The Indian Contract Act is a crucial piece of legislation that provides a framework for the enforcement of commercial transactions in India.