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A contract is implied in fact if the circumstances imply that parties have reached an agreement even though they have not done so expressly.

At common law, the elements of a contract are offer, acceptance, intention to create legal relations, and consideration.

Not all agreements are necessarily contractual, as the parties generally must be deemed to have an intention to be legally bound.

If, as in the Boots case, the offer is made by an action without any negotiations (such as presenting goods to a cashier), the offer will be presumed to be on the terms of the invitation to treat.

Auctions are governed by the Sale of Goods Act 1979 (as amended), where section 57(2) provides: “A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in other customary manner.

Certain sections in information Technology Act (2000) also provide for validity of online contract. New York courts in 2016 held that the principles of real estate contracts to apply equally to electronic communications and electronic signatures, so long as “its contents and subscription meet all requirements of the governing statute” and pursuant to the Electronic Signatures and Records Act (ESRA).

In commercial agreements it is presumed that parties intend to be legally bound unless the parties expressly state the opposite as in a heads of agreement document.

A contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to legal remedies.

Contract law recognises and governs the rights and duties arising from agreements.

Until the announcement is made any bidder may retract his bid”. Many jurisdictions have passed e-signature laws that have made the electronic contract and signature as legally valid as a paper contract.

In India, E-contracts are governed by the Indian Contract Act (1872), according to which certain conditions need to be fulfilled while formulating a valid contact. states, email exchanges have become binding contracts.

As a court cannot read minds, the intent of the parties is interpreted objectively from the perspective of a reasonable person, as determined in the early English case of Smith v Hughes [1871].

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