CONTRACT ACT:

The Contract Act 1872 was established on first September 1872 for the reason
to control every one of the arrangements and Contracts to save the privileges of
Parties of any such Agreement or agreement, occurring in Sub-Continent
governed by the British. The Contract Act, 1872 was passed by the British
India, in light of the standards of English Common Law. After parcel the
Government of Pakistan embraced it with specific alterations for a similar
reason for which it was sanctioned.
CONTRACT WITH RESPECT TO ISLAMIC LAW
The Islamic Religion stresses on the significance of the Law of Contract. The
Islamic law of Contract has itemized arrangements to guarantee suitable deals
between the organizations. Islam just Prohibits profit through usury or interest
in business as plainly referenced in the Al-Quran. Allah says in the holy Quran:
'Taking interest on credit is denied for you yet carrying on with work is allowed
for you'. This section of the Holy Quran is urging the business local area not to
loan cash with a decent pace of revenue. As a matter of truth, it urges the rich
individuals to give sans interest advances (Qard al-hasan) to poor people and the
poor individuals to assist them with settling their day to day needs for
endurance.
The principle is clearly stated in the Quran:
“o you who believe, fulfill your agreements” [al-Ma’ida:1]
“And mention in the Book, Ismail, he used to keep his promises,”
[Maryam:45]
“Those who keep their promises when they make them.” [Al-
Bakarah]

PROVISIONS CONTRADICTORY TO ISLAMIC LAW:

OFFER AND ACCEPTANCE
It is the idea of Ijab and Qabool in Islamic phrasing in which an
assertion made by one Party who presents something to the next Party
to give their consent is called Ijab and the assertion Accepted by the
Party who gives its consent is viewed as Qabool. It is a comparative
idea in both Islamic and Non-Islamic agreement regulation yet there is
a tad of Conflict as per Non-Hanafi legal scholars who have
characterized the idea considering an individual who needs to move
proprietorship and another to whom it is moved. As indicated by
them, the Transferor is the Offeror and the transferee is the offeree
(acceptor). Yet, as I would like to think, each time offer isn't made to
move just proprietorship. At times the point of view could vary.
The other state of Ijab and Qabool (Offer and Acceptance) goes
against with contract act 1872. Offer should be made in a similar
meeting (Majlis) and Communicated to the Offeree where the
presence of the two players is mandatory. Any other way it won't
ascend to a Valid Contract. Contemporary Contract Act gives us
opportunity of this condition it isn't required for the two players to be
on a similar spot. You can made and Accept Offer even through
Online Contracts (E-contracts).
Consent
The idea of Sigh ah is indistinguishable from an Agreement yet the
two terms are Treated contrastingly in their own connected circles. So
fundamentally both are material for the Commitment of similar
demonstrations however the thing that matters is Free Consent. Moan
ah incorporates Free Consent of gatherings however Contract Act
1872 gives it as an Independent Ingredient. As indicated by the
Contract, Act Consent is a Separate Provision however Islam says
there is no Agreement in the event that Consent is barred in light of
the fact that when one Offers somebody to purchase his item and
someone else will Accept it so clearly Willingness lies here, without
Consent Agreement isn't Valid. So eagerness should be liberated from
any sort of Fraud, Undue Influence, Coercion, and so forth.
Regulation accentuation on Intention as opposed to Words. The
Prophet expressed described by Hazrat Umar Ibn Khattab (RA): "The
prize of deeds relies on the expectations". A few different refrains can
be refered to regarding the matter of Free common Consent. "o you
who accept, don't consume each other's abundance illegally, however
exchange by common Consent."
Contingent contracts
In Contingent Contracts, the gatherings might concur that Rights
made by the Contracts will be Enforceable at the Happening of a
Particular occasion, and on the off chance that the occasion doesn't
occur the right made by the agreement will not be Enforceable. Such a
Contract is known as a Contingent Contract. However, Islam Permits
future Transactions due to the Uncertain and non-occurring of the
occasion. It isn't permitted in Islam so no inquiry of future deals can
emerge.
For instance, An Offers B to sell his vehicle in the following
impending three months however installment should be on the spot.
So the Promise made is future deals and there is no doubt that
emerges for such Promises since future deals are not permitted in
Islam.
Prohibition of Riba
The Giving and Receiving of Riba is totally denied in Islamic
exchange exchanges or business contracts. As the Contract act gives
an Exception to this idea you can have those Agreements which
depend on Riba just to advance and expand the motivation behind
supporting your business. Contemporary Islam thinks about that
exchange ought to be led in a Faithful and Beneficial way and the rule
of Risk-sharing should be Excluded. Since Riba is Haram in Islam
and in the event that Transactions are hung on this premise it should
be viewed as a Sinful demonstration in Islam.
“And whatever you give for riba in order that it may increase in
people’s wealth it will not increase in the sight of Allah; and
whatever you give for zakat, seeking Allah’s pleasure, it is they
who are the multipliers (to get the manifold reward)” Al-Quran
30/38-39

Mistakes made contract invalid

A Mistake in Islamic Law known as Ghalat, under both the custom-
based law of England and Islamic law of agreement shared error can
vitiate an agreement. Be that as it may, on account of a Unilateral
Mistake, the Common Law says the agreement is Valid. However, in
Islamic Contract Law, even a Unilateral misstep might invalidate a
Contract in view of the reality and conditions of the case.

Conclusion
Contract Law in any system ensures the parties to Private Agreements
that any Promises they make will be enforceable through the
machinery of the legal system. There is huge Difference of practical
Implementation of the contract act 1872 and Islamic Contract law. In
our country we are following English generated Contract act 1872
and there are some Provisions of this act Conflicting to Islamic law
e.g. according to contract act 1872 Consent is treated another part or a
separate provision but Islam says if there are parties giving Assent for
Offer and Acceptance there directly Consent exist. There are other
examples of Contradictory Provisions discussed in above detail.