Hey Everybody! In this Video, Let us understand the Basics and Importance of Indian Contract Act, 1872. Law of Contract is a very interesting and important topic as we enter into numerous Contracts - every day. In this Part of the Video, we will see - 1.What is an Agreement 2.What is a Contract 3.what is meant by ENFORCEABILITY of a Contract 4.What are the essential conditions required to make a Contract 5.And what are the differences between Valid Contacts and Agreements? 6.We will learn all these concepts through interesting and highly relatable examples! Indian Contract Act is an important part of the Syllabus of various Competitive Exams such as CLAT, AILET CA IPCC, CS, etc.