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Law of Contracts

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From ancient ages, the commercial transactions were taking place under the customs regulating the subject and the obligations of parties etc.. These customs culminated into the Law of contracts, when the same was codified. The Law of Contracts in India defines Contract as an agreement enforceable by law, which offers personal rights, and imposes personal obligations, which the law protects and enforces against the parties to the agreement. The general law of contract is based on the concept...