What are the potential violations of the Indian Contract Act, 1872, in the scenario: 'Company ABC made a verbal contract with Company XYZ for a supply of goods. Later, ABC refused to accept the goods stating that the contract was not valid as it was not written.'?
Under the Indian Contract Act, 1872, verbal contracts are as valid as written contracts. Therefore, ABC's refusal to accept the goods potentially violates the contract. ABC may be held liable for breach of contract.