Formation of Contract [introduction to law of contact]

there are few concepts that we should know to understand formation of a contract. These are:
1. Proposal or offer
2. Acceptance
3. Promise
4. Consideration and
5. Agreement

summary:-

when a proposal is accepted it becomes a promise and when a promise is coupled with consideration it becomes an agreement. And when agreement and enforceability come together it becomes a contract. We will see all these elements of a contract in detail in coming videos.

other videos on law of contract :-    • Indian Contract Act, 1872  

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