Disclaimer: This application is not affiliated with or representative of any government entity. It is a private platform developed for Educational Purpose. Any information or services provided by this app are not endorsed or sanctioned by any government authority. Content source: https://lddashboard.legislative.gov.in/actsofparliamentfromtheyear/indian-contract-act-1872 The Indian Contract Act, 1872 prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding. Under Section, the Indian Contract Act defines a contract as an agreement which is enforceable by law.