Construction contracts assignment GROUP 1 MBA (CE & QS) -3RD SEMESTER

preambleshort title

Indian contract act 1872It extends to whole expect j& kCame into force on 1st sep 1872

Enactment repealedNothing herein contained shall affect the

provisions of aan statute, act/ regulations

In this act the following words and expressions are used in following senses

Proposal –willingness to do or abstain from doing something Promise –accepting the proposal promiser- person making the proposal Promisee – person accepting Consideration for the promise –when promise has done Agreement –every promise and every set of promises Reciprocal promise-promises part of consideration

An agreement not enforceable by law is void Contract – agreement enforceable by law

Interpretation clause

Communication, acceptance and revocation of proposals It is deemed to be made by an act or

commission of the party proposing

Communication when complete The knowledge of the person to whom it is made

Revocation of Proposals and acceptance It is acceptance complete as against the

proposer

Revocation are made by Notice of revocation by proposer Without communication of acceptance by acceptor Failure of fulfilment of conditions precedent to acceptance by acceptor Death of proposer before acceptance

Proposal becomes promise when Acceptance must be absolute and unqualified Acceptance expressed in usual manner

If proposal prescribes the manner which it is to be accepted and acceptance is not done as above , the proposer can communicate the way to accept .if he fails to do so ,he accepts the acceptance

A proposal is considered as accepted by Proposal of any condition of proposal By receiving any consideration ,which is mentionaed as a reciprocal return for

performance of proposalPromise in words –expressPromise other ways --implied

Thank you