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Contracts are the backbone of modern commerce and daily life. From purchasing groceries to signing multi-million-dollar business agreements, contracts govern our interactions and transactions. In India, the Indian Contract Act, of 1872, provides the legal framework for contracts. To ensure fairness and enforceability, this act sets forth specific requirements for a contract to be considered valid. In this article, we will delve into the key provisions and elements that make up a valid contract under the Indian Contract Act, of 1872.   Offer and Acceptance The cornerstone of any contract is the presence of a valid offer and an equally valid acceptance. These two elements mark the initial stages of contract formation.   Offer:  An offer is a clear, unequivocal proposal made by one party (the offeror) to another party (the offeree) with the intent to create a legal relationship. It must be specific in its terms and communicated to the offeree. In India, an offer can be made in writing, ve

  DISTINGUISH BETWEEN NATURAL PERSON AND JURISTIC PERSON WITH EXAMPLE.    Introduction   In Jurisprudence, it is expressly stated that there are two kinds of person recognized by law and they are natural person and juristic person . Therefor it can be said that person is genus while natural person and juristic persons are its species. Below, the meaning definition and overall concept of person are explained in detail.   Person   v Meaning -   The word ‘Person’ has been derived from the Latin word ‘ persona ’. This term has a long history. At the beginning, the word persona simply used mean a mask. Later on, persona was used to denote the part played by a man in his life. Next to that, the very word was used to denote the man who played the part. Later, in Roman Law, the term became synonymous with the term caput . A slave had an imperfect persona . Lastly, the term was used in the sense of a being who is capable of sustaining rights and duties.   v Definitio

  The word bail has been derived from the French word ‘bailer’, which means to deliver or give. The conditional release of an indicted from guardianship is nominated as bail. In other words, bail is the security for the indicted person. A person is assumed to be innocent unless proven guilty. Hence, an indicted shall not be deprived of particular liberty unless specified by a fair and just procedure.   Bail Provisions Under CrPC   The term ‘bail’ is nowhere defined in the Criminal Procedure Code, 1973. still, it has been defined in CrPC under sections 436- 450. The first schedule of CrPC also defines which offenses are bailable and which are not. Generally, on-bailable offenses are more heinous crimes.     Bail in Bailable Offence     A person other than a person indicted of an on-bailable offense may be released on bail under this section on similar terms as may appear reasonable to the police officer or the Court. A person released under this section by the police off