Legal Contact Act

Prime objective of this lecture is to discuss on Legal Contact Act. A contract is an agreement that is enforceable by a court of law or equity. Contract act is defined as a legally enforceable promise or set of promises. It is made when a business buys or leases property, hires employees, purchases equipment, inventory or raw materials, sells products or services, or sells its own stock. Elements of Contract: Agreement, Consideration, Contractual Capacity and Legality