1.0Law Times Journalhttps://lawtimesjournal.inRaghav Sehgalhttps://lawtimesjournal.in/author/raghav-sehgal/rich600338<blockquote class="wp-embedded-content" data-secret="invmk4rnCj"><a href="https://lawtimesjournal.in/a-detailed-analysis-of-provisions-related-to-compensation-for-loss-or-damage-caused-by-breach-of-contract-under-the-indian-contract-law/">A Detailed Analysis of Provisions Related to Compensation for Loss or Damage Caused by Breach of Contract under the Indian Contract Law</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://lawtimesjournal.in/a-detailed-analysis-of-provisions-related-to-compensation-for-loss-or-damage-caused-by-breach-of-contract-under-the-indian-contract-law/embed/#?secret=invmk4rnCj" width="600" height="338" title="“A Detailed Analysis of Provisions Related to Compensation for Loss or Damage Caused by Breach of Contract under the Indian Contract Law” — Law Times Journal" data-secret="invmk4rnCj" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); /* ]]> */ </script> https://lawtimesjournal.in/wp-content/uploads/2021/05/th-1-1.jpg1200628An agreement enforceable by law constitutes a valid contract. In the case of a contract, each party is legally bound between both parties. Under section 2(h) of the Indian Contract Act, 1872 (ICA), the term contract has been defined as an agreement enforceable by law. The term agreement has been defined under section 2(e) of the ICA, 1872 as "every promise and every set of promises forming consideration for each other becomes an agreement." An agreement involves a promise from both sides, and when an agreement becomes enforceable under the law, a valid contract arises. An important essential element of a valid contract is the offer and subsequent acceptance to form an agreement.