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 •