
<p class="wp-block-paragraph"> Hello Dear CA Students,</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p class="wp-block-paragraph"><em>We are Sharing With You CA foundation Business Law Contract Act Unit 5 Breach of Contract and its Remedies Handwritten Notes . So kindly Check Out our www.castudynotes.com website and ALL the Best for Your upcoming Exams.</em></p>
<cite>CA STUDY NOTES</cite></blockquote>


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<p class="wp-block-paragraph">Download Contract Act Handwritten Notes </p>



<p class="wp-block-paragraph"><strong>Topic Name :-</strong> <em><em>Breach of Contract and its Remedies</em></em></p>



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<p class="wp-block-paragraph">The ;<strong>Indian Contract Act, 1872</strong> ;prescribes the law relating to contracts in India and is the key act regulating ;<strong>Indian contract law</strong>. </p>



<p class="wp-block-paragraph">The Act is based on the principles of ;English Common Law. It is applicable to all the states of India. </p>



<p class="wp-block-paragraph">It determines the circumstances in which promises made by the parties to a contract shall be legally binding. Under Section 2(h), the Indian Contract Act defines a contract as an agreement enforceable by Law</p>



<h2 class="wp-block-heading">Development and Structure</h2>



<p class="wp-block-paragraph">The Act was enacted on 25 April 1872 and commenced on 1 September 1872. The Act as enacted originally had 266 Sections, divided into 11 chapters</p>



<ul class="wp-block-list">
<li>General Principles of Law of Contract – Sections 01 to 75 (Chapter 1 to 6)</li>



<li>Contract relating to Sale of (Chapter 8 to 10)</li>



<li>Contracts relating to Partnership – Sections 239 to 266 (Chapter 11)</li>
</ul>



<p class="wp-block-paragraph">Later, sections of Chapter 7 and 11 were repealed, as they became part of separate legislations namely, Sale of Goods Act, 1930 and ;Indian Partnership Act, 1932.</p>



<p class="wp-block-paragraph">At present the Indian Contract Act may be divided into two parts:</p>



<ul class="wp-block-list">
<li>Part 1: General Principles of Law of Contract – Sections 1 to 75 (Chapter 1 to 6)</li>



<li>Part 2: Deals with Special kinds of Contracts such as
<ul class="wp-block-list">
<li>Contract of Indemnity and Guarantee (Chapter 8)</li>



<li>Contract of Bailment and Pledge (Chapter 9)</li>



<li>Contract of Agency. (Chapter 10)</li>
</ul>
</li>
</ul>


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