BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indian Contract Act belongs to which year?
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1881
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1880
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1956
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1872
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Explanation:
Detailed explanation-1: –This Act may be called the Indian Contract Act, 1872.” Extent, Commencement.-It extends to the whole of India 1 [except the State of Jammu and Kashmir]; and it shall come into force on the first day of September, 1872.
Detailed explanation-2: -The Indian Contract Act, 1872 defines the term “Contract” under its section 2 (h) as “An agreement enforceable by law”. In other words, we can say that a contract is anything that is an agreement and enforceable by the law of the land.
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