Contract Law

Yes, you can become a Contracts lawyer after completing LLB if you had chosen Contract Law as a specialisation during the course. Else, it is advisable to also obtain an LLM degree before applying for the job. Candidates who have specialised in LLM are given preference especially for academic roles since post-graduation is an important criteria for a career in academics. Many legal process outsourcing companies hire LLB or BA LLB graduates for the role of Contract Analysts or Legal Associates who look after the drafting and editing of contracts and agreements.

There is only one college that provides a Contract Law course, which is a government college, i.e. Government Institute of Forensic Science. 

Moreover, there are career paths majorly in business sector where a contract law graduate can go forward. 

In a Contract Law course, students are taught various subjects related to contracts such as:

• Definitions of Agreement and Contract
• Essentials of a Valid Offer & Acceptance
• Contract Acceptance: Definition, Communication, Revocation
• Fraud
• Discharge of Contract

The offer and acceptance are fundamental and essential prerequisites of formation in the law of contracts. An offer is the act of the offeror to do something to the offered; that is, to another party, known as the offeree, to enter into a legally enforceable agreement. Acceptance is the act whereby the offeree accepts the terms of an offer without any amendment or addition.

Yes, since contract-related matters require continuous legal representation, a career in Contract Law is sound. According to a recruitment website, the average salary of a Contract Lawyer in India is around INR 59,000 per month. Candidates may take up their job immediately in either litigation or academics after finishing Contract Law. They can also work as Contract Lawyers, Contract Attorneys, or Contract Specialists in the top LPOs.

Therefore, a sound knowledge of contract law is essential for candidates who wish to make a career in the field of Contract Drafting and Negotiations.

Contract Law includes various paperwork related to agreements and contracts a company or firm makes with other stakeholders. It is an essential ingredient of finance and accountancy, therefore, it is directly related to Chartered Accountancy. Hence, the course curriculum of both courses includes Company Secretary and Chartered Accountancy including Contract Law and other allied laws as mandatory subjects.  It is a part of the important company related legislation that every CA and CS aspirant must be thorough with. Hence it is an indispensable part of the curriculum.

A Contract Law is a law that relates to making and enforcing agreements between two or more parties. Contract law deals with issues such as the essentials of a valid contract, eligibility to form a contract, void and voidable contracts, voidable agreements, quasi-contracts, etc. In fact, important Acts such as the Sale of Goods Act and Partnership Act are also based on the concepts of Contract Law. The Indian Contract Act also deals with contracts of bailment, pledge, agency and indemnity.