Applicability & Scope :-
a) Effective from - 1st September 1872
b) Applies - Whole of India ( Note 2)
c) Nothing Herein Contained Shall affect :-
- Provisions of any
Statute Act or Regulation not hereby expressly Repealed.
- Any Usage or
Custom Of Trade
- Any incident of
any Contract not inconsistent with the provision of this Act.
Note 2:- Words except the state of Jammu and Kashmir Omitted
By Act 34 of 2019. Section 95 and the Fifth Schedule w.e.f. 31-10-2019
- Jammu and
Kashmir Reorganization Act 2019 ( 9th August 2019 )
Contractual Rights And
Obligations
The law of contract consists of a number of limiting f actors
subject to which the
parties may create rights and duties f or themselves which
the law will enforce.
It deals with two rights:
(1) Jus in Personam ( Means Rights against a Specified Per
Son )
(2) Jus in Rem ( Meants Rights against a Thing )
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