As per Section 10 of the Indian Contract Law, 1872, an agreement is a contract which is enforceable by law. An agreement is enforceable by law and can be defined as a valid contract if it is made by competent parties, out of their free consent and for lawful object and consideration. In simple words, a contract is an agreement binding between two or more parties intending to create a legal relationship, in which one makes the proposal while the other accepts the proposal or offer and thus it becomes a promise. Such acceptance has to be certain and not vague and must be free from any undue influence, force or misrepresentation. Both the parties to the contract must be major, sound mind and not declared disqualified by any law for the time being in force in India. As per Section 23 of the Indian Contract Act, 1872 the object of the contract and the consideration must be lawful. It must be certain, definite and not vague and such as are capable of performance. A contract may be made by words spoken or written. In India, usually where there is a statutory need that contract for example Agreements relating to mortgage, sale, lease etc must be made in writing, attested by witnesses, signed by the parties and to be registered by the parties in order to make that agreement enforceable.
