What does the Indian Contract Act, 1872 govern?

The Indian Contract Act, 1872 specifically governs contracts in India, setting the foundational framework for the creation, execution, and enforcement of agreements between parties. It establishes the principles of offer and acceptance, considerations, and the validity of contracts, ensuring that the agreements made are fair and legally binding. This legislation outlines the rights and duties of individuals when entering into contracts, which is critical for promoting trust and reliability in commercial transactions.

In contrast, criminal law, human rights laws, and property rights fall under different areas of legal legislation. Criminal law addresses offenses against the state and punishments for those offenses, while human rights laws protect the fundamental rights and freedoms of individuals. Property rights pertain to ownership and use of property, separate from contract law. Thus, option B is accurate as it specifically identifies the Indian Contract Act as the legislation pertinent to contracts.