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...Chapter the indian contract act unit nature of learning outcomes after studying this you would be able to understand meaning terms agreement and note distinction between two essential elements a clear about various types concept offer acceptance rules communication revocation thereof institute chartered accountants india business laws overview law introduction constitutes most important branch mercantile or commercial it affects everybody more so trade commerce industry may said that is foundation civilized world relating governed by came into force on september preamble says an define amend certain parts extends whole mostly deals with general principles governing contracts divisible first part section therefore applies all irrespective their second sections special kinds e g indemnity guarantee bailment pledge agency as result increasing complexities environment innumerable are entered parties in usual course carrying method defining rights duties transaction different from other bra...