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...The indian contract act unit i background learning objectives after studying this you would be able to understand meaning of terms agreement and note distinction between two essential elements a clear about various types concept offer acceptance rules communication revocation thereof any commercial activity requires understanding among people concerned is often reduced into writing give effect intention parties such formal versions are known as contracts these define rights obligations facilitate easy performance contractual codifies legal principles that govern basically identifies ingredients legally enforceable valid in addition dealing with certain special type relationships like indemnity guarantee bailment pledge quasi contingent etc what while all agreements not an which alone but remain void at or voidable by only one above observation raise question our minds exact words promise commitment set reciprocal promises commitments involves proposal person another if capable being en...