Section 2 of ICA : Section 2: Interpretation-Clause

Explanation using Example

Imagine that Rita, a homeowner, wants to have her house painted. She contacts a local painter, Bob, and tells him that she will pay him $2,000 to paint her house. Rita's statement is a proposal as per Section 2(a) of the Indian Contract Act, 1872.

Bob agrees to the job for the stated price, thus accepting Rita's proposal, making it a promise as mentioned in Section 2(b).

In this scenario, Rita is the "promisor" and Bob is the "promisee" according to Section 2(c).

The $2,000 payment is the consideration for Bob's promise to paint the house, as describe...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.