The Indian Contract Act of 1872 is a crucial piece of legislation that governs the formation and enforcement of contracts in India. If you are interested in learning more about the various sections of the Indian Contract Act, then you may be wondering: what section of the Indian Contract Act deals with the definition of a contract?

To answer this question, let’s first start by defining what a contract is. Simply put, a contract is a legally binding agreement between two or more parties. This agreement can be written or verbal and must have certain key components to be considered enforceable by law. These components include:

1. Offer: One party proposes a deal to the other.

2. Acceptance: The other party agrees to the deal.

3. Consideration: Both parties exchange something of value (money, goods, services, etc.).

4. Capacity: Both parties must be legal adults of sound mind and not under coercion or duress.

5. Consensus ad idem: Both parties must have a mutual understanding of the terms of the agreement.

Now, to answer the original question, the definition of a contract can be found in Section 2(h) of the Indian Contract Act. This section states that a contract is an agreement enforceable by law, which means that if any of the above-mentioned components are missing, the contract may not be legally binding.

It is essential to understand the various sections of the Indian Contract Act if you are entering into a business deal or signing a contract in India. By understanding these sections, you can ensure that your agreements are legally binding and protect your interests in case of a dispute.

In conclusion, the definition of a contract can be found in Section 2(h) of the Indian Contract Act, which states that a contract is an agreement enforceable by law. It is crucial to have a clear understanding of the various sections of the Act to ensure that your agreements are legally binding and protect your interests in the long run.