History of Indian Contract Act

This Presentation is History of Indian Contract Act

1. B.V.Patel Institute Of BMC & IT Subject’s name : Mercantile law Topic: History Of Indian Contract Act Members: 14bcom42 Jain Hardik 14bcom47 Chaudhari Sajjan

2. History Of Indian Contract Act

3. The Indian contract act 1872 section 1-75 came into force on 1 sep. 1872. it applies to the whole of Indian except the state of Jammu and Kashmir. Indian contract act, 1872 is the main source of law regulating contracts in Indian law, as subsequently amended. It contains 266 sections. History of The Indian Contract Act

4. Phase I: Before 1872, there was the English common law which was applied to Indian citizens heterogeneously leading to many inconveniences. To stop this, statuses were enacted to regulated contracts where parties were Muslim and Hindus. If both parties were Hindus, they were regulated by the Hindus law and in case of Muslim, by Muslim laws and usages.

5. Phase II (1872 & 1929): The Indian contract act came into force on the 1 st day sep, 1872. The contract law contained sections 1-266 in total, divided into different groups, viz. General principles of law of contract Sec.1-75 Sales of Goods Sec.76-123 Indemnity & Guarantee Sec.124-147 Bailment & pledge Sec.148-181 Contract of Agency Sec.182-238 Partnership Sec.239-266

6. Phase III: on and after 1930. Sec. 76-123 relating to sales of goods were repealed in 1930 and a separate act, called the Sales of Goods Act, was enacted.

7. Sec. 239-266 relating to partnership were repealed in 1932 and a separate Act, called the Partnership Act , was enacted.

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