Monday, December 17, 2012

Definition of Contract

According to Section 2 (h) of the Bangladesh Contract Act, 1872, provides that – “ An agreement enforced by law is a contract”.

According to Salmond: - “A contract is an agreement creating and defining obligations between the parties”.

According to Sir Fredric Pollock: - “Every agreement and promise enforceable at law is a contract”.

According to Anson: - “ A contract is an agreement enforceable at law made between two or more persons by which rights are acquired by one or more to act or forbearance on the part of the other”.

Therefore, in a contract there must be (i) an agreement and (ii) the agreement must be enforceable which can be enforced through the Courts of law, is called a contract. 

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1 comment:

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