{"id":2114,"date":"2022-11-23T11:40:36","date_gmt":"2022-11-23T06:10:36","guid":{"rendered":"https:\/\/www.leadindia.law\/blog\/en\/?p=2114"},"modified":"2022-12-24T15:45:47","modified_gmt":"2022-12-24T10:15:47","slug":"the-meaning-of-agreement","status":"publish","type":"post","link":"https:\/\/www.leadindia.law\/blog\/en\/the-meaning-of-agreement\/","title":{"rendered":"The Meaning of Agreement"},"content":{"rendered":"\n

The act of approving or disapproving through written communication is called Agreement. Agreements is the state of agreeing or deciding mutually the opinion of both or all the Parties involved and means that all the Parties accept the opinion.<\/p>\n\n\n\n

As per section 2 (e) of Indian Contract Act, \u2018Every promise and every set of promises<\/a>, forming the consideration for each other, is an agreement\u2019.<\/p>\n\n\n\n

Ingredients:<\/h3>\n\n\n\n
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  1. Parties: <\/strong>There shall always be two or more Parties to an Agreement.<\/li>\n\n\n\n
  2. Offer\/ Proposal: <\/strong>When one person signifies to another person his willingness to do or omit something.<\/li>\n\n\n\n
  3. Acceptance: <\/strong>When the person signifies his assent to the other person<\/li>\n\n\n\n
  4. Promise:<\/strong> when the proposal is accepted by a second party, it becomes a promise<\/li>\n\n\n\n
  5. Consideration: <\/strong>It is the way of returning one\u2019s price for the act or omission.<\/li>\n<\/ol>\n\n\n\n
    \n