Meaning of Proposal Under Indian Contract Act
  Q. 1. What do you mean by a contract? Define it and mention its essential characteristics.   Or   "An agreement enforceable by law is a contract".   Or   "All contracts are agreements but all agreements are not contracts".   Or   What are the essential elements for formation of a contract?       Ans. Definition of Contract.-   According to Salmond , "Contract is an agreement creating and defining obligations between parties."       Similarly, Sir Fredrick Pollock has defined the word  "Contract" as follows:-       "Every agreement and promise enforceable at law is a contract."       Anson has defined the word 'contract' in the following words:       "A contract consists in an actionable promise or promises. Every such promise involves two parties, a promisor and a promisee, an expression of the common intention and of expectation as to the act or forbearance promised."   Essentials of Contract   •        Proposal   •...