Indian Law of Contract - Law of Contract - Lecture Slides, Slides of Contract Law

Download Indian Law of Contract - Law of Contract - Lecture Slides and more Slides Contract Law in PDF only on Docsity! THE INDIAN LAW OF CONTRACT Docsity.com Session Objectives  To understand the basic rules that govern the formation of Contracts  To appreciate the changing patterns of contractual relations and determination of corresponding liability Docsity.com SALIENT FEATURES …  The Act provides the Foundational Contractual Principles – need not be exhaustive  Provides guidance to determine legal issues in a transaction – e.g., Choice of Law clauses Docsity.com FORMATION Stage I – PROPOSAL  An Offer of willingness being communicated  Differs from an Invitation to Offer  Presence of an Intention to create legal relations – Promise + expectation/request Docsity.com FORMATION … Stage II – ACCEPTANCE  Unconditional and final, else it becomes a counter proposal  Intention is vital – express or implied  Communication is essential – silence is not (presumed) acceptance!!  Subsequent conduct? Docsity.com