• Arzoo

An arrangement simply described by the Indian Contract Act extends to all sets of commitments that act as reciprocal consideration. If this definition is broken down, then we get two key elements, a commitment and another factor. A commitment is characterized by contract law as an agreed agreement that can be further broken down into two components, i.e. the proposal and approval of that proposal. In view of the above, an arrangement can be said to be the product of a suggestion made by one party and its approval by the other. However, not all arrangement is assumed to be a deal, contrary to belief. Contract law is limited to those obligations which have been willingly created, meaning that those obligations which have been enforced by law or the recognition of trust do not come within its scope and that the arrangements resulting from those obligations cannot be considered as contracts.

Agreement; Acceptance; Contract; Consideration; Consent; Competent Parties; Intention; Indian Contract Act, 1872; Offer; Section 10.

"Essentials of a Valid Contract under the Indian Contract Act, 1872", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.893-896, April-2019, Available :http://www.jetir.org/papers/JETIREO06195.pdf

"Essentials of a Valid Contract under the Indian Contract Act, 1872", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp893-896, April-2019, Available at : http://www.jetir.org/papers/JETIREO06195.pdf