Concept:
The Indian Contract Act is one of the oldest and most important pieces of legislation in the Indian legal system, governing commercial and personal agreements.
Step 1: Historical Context.
The Act was passed by the British Parliament in April 1872.
However, the "Enforcement Date" is different from the "Passing Date."
Step 2: Identifying the Enforcement Date.
The Act officially came into force on
1st September, 1872.
It applies to the whole of India and defines the essentials of a valid contract.