SHORT ANSWER:
Contracts in India must meet certain legal requirements to be enforceable under the Indian Contract Act, 1872.
DETAILS:
- The parties must be competent to contract (age, sound mind).
- The agreement must be made with free consent of the parties.
- The object of the contract must be lawful.
- The consideration must be lawful and not void.
- The contract must be in writing if required by law for certain types (e.g., sale of property).
PUNISHMENT / IMPLICATIONS (if applicable):
- A contract that does not meet these requirements may be void or voidable.
SOURCE:
- Indian Contract Act, 1872
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