Contract Act, 1872
The Contract Act 1872 was enacted on 1st September 1872 for the purpose to regulate all the agreements and contracts to save the rights of parties of any such agreement or contract, taking place in Sub-Continent ruled by the British. The Contract Act, 1872 was passed by the British India, based on the principles of English Common Law. After partition the Government of Pakistan adopted it with certain amendments for the same purpose for which it was enacted. Under the Contract Act, 1872 a contract is form of an agreement in which a party (promisor) proposes performance of certain acts and other party (promisee) accepts the same against a lawful consideration.
