Thursday, December 19, 2013

Law of contract in Ancient India....around 310 B.C

Did you know that Ancient India's law of contract precedes that of any known contract Laws after the  Common Era (Before Christ) and also it was robust and is a forerunner to the law of contracts in many ways?

take an example...a contract is formed between two  or more in a community or group shall be valid provided the contract is concluded in a suitable place ( location), time, observing due formalities ( consideration), in presence of witness provided the detail so of the object of the contract , such as the appearance, distinguishing marks, quality and quantity are properly noted down. The modern contract law is not much different.