Legal framework is an important constituent of the business and corporate environment. No corporate entity can effectively work and survive without meeting legal obligations. The law relating to contracts is perhaps the most significant and all pervasive amongst the various Business Regulatory Framework.

The Indian Contract Act, 1872 which governs contract in India is the earliest piece of legislation which the country has produced. Since the book is meant for students of Law, Commerce and Management Institutes, the authors have dealt with the provisions of the Act topic-wise for facilitating better understanding of the subject. Example, case laws etc. Have been given to illustrate the provision of the Act. Section numbers have been given at appropriate place to enable the readers to make reference to the Companies Act for further details. Suitable headings and sub-headings have been given to focus the attention of the reader on important aspects of company.