Contract is contract when it is made not from the date of performance.This statement is correct. The date of performance is for the performance of contract, while rights and duties are created when the contract is made and not from future date. This is also clear from the provisions of the Indian Contract Act 1872. Following provisions of the Act supports this view.
1. Section 2(h)
Section 2(h) asserts that agreement enforceable by law is a contract. It shows that when the agreement made and it is enforceable by law then it is contract.It is contract from the date when it is made.
2. Section 37
asserts that parties to the contract must perform their obligations. It also shows that promise is binding from the date. when the contract is made not from the date of performance.
3. Section 39
4. Section 56 Para 2
of the act makes provision that a contract to do an act which after the contract becomes impossible or contract becomes void This also shows that contract was also from the date of making otherwise there was no question of existence of contract.
5. The very concept of void
shows the existence of contract.In the Indian contract Act 1872 following are the situation of void contract.