Indian Contract Act 1872 does not lay down any particular form or condition of a Contract. It merely provides certain elementary conditions under which a Contract becomes binding on the parties. The parties to the contract may agree to a particular form or condition or mode in which the contract is to be executed.
It is very essential to know The Indian Contract Act to enter into Business contracts and to have an elaborate idea of Offer-Acceptance-Revocation of Proposals. When a Proposal becomes Contract ? When a Contract becomes Binding? And of Consequences of Breach of Contract ! Contract Act plays an important role in understanding Indemnity & Guarantee, Sale of Goods & Services, Agency, Partnership etc.
Below I have given the Indian Contract Act along with section wise latest decisions (briefs) of High Courts & Supreme Court of India (which will be updated from time to time.) for better understanding of the issues by people in general and students and professionals for professional guidance.