Contract law

The immense reach of cyber space has made it difficult to define the jurisdiction of cyber laws. The dispute caused by the breach of a contract, falls under the purview of the legislation of the place of contract formation. The court’s jurisdiction in such a dispute is determined by the place of conclusion of the contract.

A contract is essential for any business transaction, ensuring that both parties to the contract abide by the commonly established terms and conditions. Entering an agreement or transaction without a formal contract can be disastrous because it could result in one or both parties escaping their obligations. To protect the interests of both parties, the Indian Contract Act was established in 1872. The purpose of Indian contract law is to ensure fair business practices.