Contracts have a vital role in our daily lives. People who take rented houses would agree with the house owner to agree. When we buy a car or a home, we agree. Knowingly or unknowingly, we enter into many Contracts as part of our lives. In India, the Indian Contract Act of 1872 governs contracts, agreements, agency and bailment. One of the common doubts among people is understanding the difference between both contexts. Let us take the case of the rented house agreement. The rent agreement is also known as a rent contract. The words are commonly used re...
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