For binding contract both the parties to the contract must: (a) Agree with each other. (b) Put the offer and counter offers. (c) Stipulate their individual offer (d) Agree upon the same thing in the same sense.

For binding contract both the parties to the contract must:
(a) Agree with each other.
(b) Put the offer and counter offers.
(c) Stipulate their individual offer
(d) Agree upon the same thing in the same sense.
by

1 Answer

Answer :

(d) Agree upon the same thing in the same sense.
by

Related questions

“A Contract is an agreement creating and defining obligations between the parties” the definition was put forwarded by (a) Dr. Ambedkar (b) Pollock (c) Salmonds (d) N.D.Kapoor

Description : “A Contract is an agreement creating and defining obligations between the parties” the definition was put forwarded by (a) Dr. Ambedkar (b) Pollock (c) Salmonds (d) N.D.Kapoor

Last Answer : (c) Salmonds

An agreement is a Voidable Contract when it is (a) Enforceable (b) Enforceable by Law at the option of the aggrieved party (c) Enforceable by both the parties (d) Not enforceable at all.

Description : An agreement is a Voidable Contract when it is (a) Enforceable (b) Enforceable by Law at the option of the aggrieved party (c) Enforceable by both the parties (d) Not enforceable at all.

Last Answer : (b) Enforceable by Law at the option of the aggrieved party

As per section 2(e) of the Indian Contract Act, “Every Promise and every set of promise forming the consideration for each other is a/an (a) Contract (b) Agreement (c) Offer (d) Acceptance

Description : As per section 2(e) of the Indian Contract Act, “Every Promise and every set of promise forming the consideration for each other is a/an (a) Contract (b) Agreement (c) Offer (d) Acceptance

Last Answer : (b) Agreement

Every promise and every set of promise forming the consideration for each other is a/an (a) contract. (b) agreement. (c) offer. (d) acceptance.

Description : Every promise and every set of promise forming the consideration for each other is a/an (a) contract. (b) agreement. (c) offer. (d) acceptance.

Last Answer : (b) agreement.

Under the Indian Contract Act, the contract of indemnity is restricted to such cases (a) Where the loss promise to be reimbursed is caused by the conduct of the promisor or any other person (b) The loss caused by the any events or accident which does not depend upon conduct of any person (c) Both (a) & (b) (d) None

Description : Under the Indian Contract Act, the contract of indemnity is restricted to such cases (a) Where the loss promise to be reimbursed is caused by the conduct of the promisor or any other person (b) The loss caused ... accident which does not depend upon conduct of any person (c) Both (a) & (b) (d) None

Last Answer : (b) The loss caused by the any events or accident which does not depend upon conduct of any person

What is the ratio of parties in contract of indemnity and contract of guarantee (a) 2 : 3 (b) 3 : 2 (c) 1 : 3 (d) 2 : 1

Description : What is the ratio of parties in contract of indemnity and contract of guarantee (a) 2 : 3 (b) 3 : 2 (c) 1 : 3 (d) 2 : 1

Last Answer : (a) 2 : 3

Damages which the contracting parties fix at the time of contract in case of breach (a) Unliquidated Damages (b) Liquidated Damages (c) Nominal Damages (d) None of the above

Description : Damages which the contracting parties fix at the time of contract in case of breach (a) Unliquidated Damages (b) Liquidated Damages (c) Nominal Damages (d) None of the above

Last Answer : (b) Liquidated Damages

To form a valid contract, there should be atleast ............. (a) Two parties (b) Three parties (c) Four parties (d) Five parties.

Description : To form a valid contract, there should be atleast ............. (a) Two parties (b) Three parties (c) Four parties (d) Five parties.

Last Answer : (a) Two parties

A contract creates (a) rights and obligations of the parties to it. (b) obligations of the parties to it. (c) mutual understanding between the parties to it. (d) mutual lawful rights and obligations of the parties to it.

Description : A contract creates (a) rights and obligations of the parties to it. (b) obligations of the parties to it. (c) mutual understanding between the parties to it. (d) mutual lawful rights and obligations of the parties to it.

Last Answer : (b) obligations of the parties to it.

Offer implied from conduct of parties or from circumstances of the case is called ........... (a) Implied offer (b) Express offer (c) General offer (d) Specific offer

Description : Offer implied from conduct of parties or from circumstances of the case is called ........... (a) Implied offer (b) Express offer (c) General offer (d) Specific offer

Last Answer : (a) Implied offer

An offer stands revoked (a) If the fact of the death or insanity is known to offeree (b) By counter offer (c) By rejection of offer (d) All the above

Description : An offer stands revoked (a) If the fact of the death or insanity is known to offeree (b) By counter offer (c) By rejection of offer (d) All the above

Last Answer : (d) All the above

A Counter offer is ............... (a) A rejection of the original offer (b) An acceptance of the offer (c) A bargain (d) An invitation to treat

Description : A Counter offer is ............... (a) A rejection of the original offer (b) An acceptance of the offer (c) A bargain (d) An invitation to treat

Last Answer : (a) A rejection of the original offer

Goods displayed in a Shop window with a price label will amount to: (a) Offer (b) Acceptance of offer (c) Invitation to offer (d) Counter offer

Description : Goods displayed in a Shop window with a price label will amount to: (a) Offer (b) Acceptance of offer (c) Invitation to offer (d) Counter offer

Last Answer : (c) Invitation to offer

In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)

Description : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)

Last Answer : a) specific

The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Description : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Last Answer : a. Agency

The term” Proposal or offer” has been defined in - of the Indian contract Act. (a) Section 2(a) (b) Section 2(b) (c) Section 2(c) (d) Section 2(d)

Description : The term” Proposal or offer” has been defined in - of the Indian contract Act. (a) Section 2(a) (b) Section 2(b) (c) Section 2(c) (d) Section 2(d)

Last Answer : (a) Section 2(a)

Which one of the following will constitute a valid acceptance? (a) An enquiry as to fitness of the subject matter of contract. (b) A provisional acceptance (c) Addition of a superfluous term, while accepting an offer. (d) A conditional acceptance.

Description : Which one of the following will constitute a valid acceptance? (a) An enquiry as to fitness of the subject matter of contract. (b) A provisional acceptance (c) Addition of a superfluous term, while accepting an offer. (d) A conditional acceptance.

Last Answer : (a) An enquiry as to fitness of the subject matter of contract.

Which one of the following has the correct sequence? (a) Offer, acceptance, consideration, offer. (b) Offer, acceptance , consideration, contract (c) Contract, acceptance, consideration, offer. (d) Offer, consideration, acceptance, contract.

Description : Which one of the following has the correct sequence? (a) Offer, acceptance, consideration, offer. (b) Offer, acceptance , consideration, contract (c) Contract, acceptance, consideration, offer. (d) Offer, consideration, acceptance, contract.

Last Answer : (b) Offer, acceptance , consideration, contract

An Agreement is ................... (a) Offer (b) Offer+ Acceptance (c) Offer + Acceptance + Consideration (d) Contract

Description : An Agreement is ................... (a) Offer (b) Offer+ Acceptance (c) Offer + Acceptance + Consideration (d) Contract

Last Answer : (b) Offer+ Acceptance

Every agreement and promise enforceable by law is ……………. (a) Offer (b) Contract (c) Acceptance (d) Consideration

Description : Every agreement and promise enforceable by law is ……………. (a) Offer (b) Contract (c) Acceptance (d) Consideration

Last Answer : (b) Contract

All Contract is a/an …………….. (a) Offer (b) Agreement (c) Acceptance (d) Transaction

Description : All Contract is a/an …………….. (a) Offer (b) Agreement (c) Acceptance (d) Transaction

Last Answer : (b) Agreement

Which of following is a contract? (a) A engages B for a certain work and promises to pay such remuneration as shall be fixed. B does the work. (b) A and B promise to marry each Other. (c) A takes a Seat in a public vehicle (d) A invites B to a card party. B accepts the invitation.

Description : Which of following is a contract? (a) A engages B for a certain work and promises to pay such remuneration as shall be fixed. B does the work. (b) A and B promise to marry each Other. (c) A takes a Seat in a public vehicle (d) A invites B to a card party. B accepts the invitation.

Last Answer : (a) A engages B for a certain work and promises to pay such remuneration as shall be fixed. B does the work.

Which of the following legal statement is incorrect? (a) An agreement enforceable by law is a contract [Section 2] (b) All agreements are contracts [Section 10] (c) A proposal when accepted becomes a promise [Section 2] (d) Every promise and every set of promise forming the consideration for each other is an agreement [Section 2(e)]

Description : Which of the following legal statement is incorrect? (a) An agreement enforceable by law is a contract [Section 2] (b) All agreements are contracts [Section 10] (c) A proposal when accepted becomes ... and every set of promise forming the consideration for each other is an agreement [Section 2(e)]

Last Answer : (b) All agreements are contracts [Section 10]

Terms of an offer must be ......... (a) Ambiguous (b) Uncertain (c) Definite (d) Vague

Description : Terms of an offer must be ......... (a) Ambiguous (b) Uncertain (c) Definite (d) Vague

Last Answer : (c) Definite

The offer must be ………….. (a) Conditional (b) Temporary (c) Definite (d) all of the above

Description : The offer must be ………….. (a) Conditional (b) Temporary (c) Definite (d) all of the above

Last Answer : (c) Definite

Which of the following is false? An offer to be Valid must (a) Contain a term the non- compliance of which would amount to acceptance. (b) Intend to create legal relations. (c) Have certain and unambiguous terms. (d) Be communicated to the person to whom it is made.

Description : Which of the following is false? An offer to be Valid must (a) Contain a term the non- compliance of which would amount to acceptance. (b) Intend to create legal relations. (c) Have certain and unambiguous terms. (d) Be communicated to the person to whom it is made.

Last Answer : (a) Contain a term the non- compliance of which would amount to acceptance.

Where both the name and existence of the principal are not disclosed in the contract. Such principal is called a. Undisclosed principal b. Unnamed principal c. Named principal d. Prohibited principal

Description : Where both the name and existence of the principal are not disclosed in the contract. Such principal is called a. Undisclosed principal b. Unnamed principal c. Named principal d. Prohibited principal

Last Answer : a. Undisclosed principal

In contract of indemnity, what is the liability of indemnifier against the indemnified (a) Primary (b) Secondary (c) No liability (d) Both (a) & (b)

Description : In contract of indemnity, what is the liability of indemnifier against the indemnified (a) Primary (b) Secondary (c) No liability (d) Both (a) & (b)

Last Answer : (a) Primary

A contract is said to be discharged or terminated (a) When the rights and obligation are completed (b) When the contract becomes voidable (c) Both (a) & (b) (d) None of the above

Description : A contract is said to be discharged or terminated (a) When the rights and obligation are completed (b) When the contract becomes voidable (c) Both (a) & (b) (d) None of the above

Last Answer : (a) When the rights and obligation are completed

Consider the following statement: (1) There is no difference between the English Law and Indian Law with regard to acceptance through post. (2) Both Under the English Law and the Indian Law a contract is concluded when the letter of acceptance is posted. (3) Under the Indian Law when the Letter of acceptance is posted it is completed only as against the proposer. Which of the above statement is/are correct? (a)1 and 2 (b) 2 alone (c) 3 alone (d) None

Description : Consider the following statement: (1) There is no difference between the English Law and Indian Law with regard to acceptance through post. (2) Both Under the English Law and the Indian Law a contract is concluded when the ... statement is/are correct? (a)1 and 2 (b) 2 alone (c) 3 alone (d) None

Last Answer : (c) 3 alone

A/an …………… is every Promise and every set of promises , forming consideration for each other (a) Offer (b) Agreement (c) Acceptance (d) Transaction

Description : A/an …………… is every Promise and every set of promises , forming consideration for each other (a) Offer (b) Agreement (c) Acceptance (d) Transaction

Last Answer : (b) Agreement

A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Description : A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Last Answer : a) Contract of indemnity

A sees an article marked “Price Rupees Twenty” in B’s shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 (b) A can force B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.

Description : A sees an article marked Price Rupees Twenty in B's shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 ( ... B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.

Last Answer : (a) A cannot force B to sell the article at ` 20

Which of the following is not a termination of agency by acts of the parties. a. Agreement b. Revocation by principal c. Insolvency d. Revocation by agent

Description : Which of the following is not a termination of agency by acts of the parties. a. Agreement b. Revocation by principal c. Insolvency d. Revocation by agent

Last Answer : c. Insolvency

Which of the following statement is/are correct (a) Ordinary damages are recoverable (b) Special damages are recoverable only if parties know about them (c) Remote or indirect damages are not recoverable (d) All of these

Description : Which of the following statement is/are correct (a) Ordinary damages are recoverable (b) Special damages are recoverable only if parties know about them (c) Remote or indirect damages are not recoverable (d) All of these

Last Answer : (d) All of these

In Commercial and business agreements, the intention of the parties to create legal relationship is (a) Presumed to exist (b) To be specifically expressed in writing (c) Not relevant or all (d) Not applicable.

Description : In Commercial and business agreements, the intention of the parties to create legal relationship is (a) Presumed to exist (b) To be specifically expressed in writing (c) Not relevant or all (d) Not applicable.

Last Answer : (a) Presumed to exist

Contractual rights and duties are created by ............... (a) State (b) Statute (c) Parties (d) Custom or Usage.

Description : Contractual rights and duties are created by ............... (a) State (b) Statute (c) Parties (d) Custom or Usage.

Last Answer : (c) Parties

In agreements of a purely domestic nature, the intention of the parties to create legal relationship is (a) to be proved to the satisfaction of the court. (b) presumed to exist. (c) required to the extent of consideration. (d) not relevant at all.

Description : In agreements of a purely domestic nature, the intention of the parties to create legal relationship is (a) to be proved to the satisfaction of the court. (b) presumed to exist. (c) required to the extent of consideration. (d) not relevant at all.

Last Answer : (a) to be proved to the satisfaction of the court.

Valid contracts (a) are made by free consent. (b) are made by competent parties. (c) have lawful consideration and lawful object. (d) all of the above.

Description : Valid contracts (a) are made by free consent. (b) are made by competent parties. (c) have lawful consideration and lawful object. (d) all of the above.

Last Answer : (d) all of the above.

An agreement consists of reciprocal promises between at least (a) four parties. (b) six parties. (c) three parties. (d) two parties.

Description : An agreement consists of reciprocal promises between at least (a) four parties. (b) six parties. (c) three parties. (d) two parties.

Last Answer : (d) two parties.

What can a catalogue of books, listing price of each book and specifying the place where the listed books are available be termed as? (a) An offer (b) An obligation (c) An invitation to offer (d) A promise to make available the books at the listed place.

Description : What can a catalogue of books, listing price of each book and specifying the place where the listed books are available be termed as? (a) An offer (b) An obligation (c) An invitation to offer (d) A promise to make available the books at the listed place.

Last Answer : (c) An invitation to offer

A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Description : A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Last Answer : b) contract of guarantee

where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Last Answer : c) unpaid seller lien does not revive

A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Description : A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Last Answer : c) warranty

which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this

Description : which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this

Last Answer : c) actual delivery

which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample

Description : which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample

Last Answer : c) condition as to free from encumbrance

The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this

Description : The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this

Last Answer : c) English sale of goods act

A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable

Description : A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable

Last Answer : a) agreement to sell

A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Last Answer : d)agreement to sell

Warranty is a contract means a) collateral to main purpose b)condition to main purpose c) representation to main purpose d)none of the above

Description : Warranty is a contract means a) collateral to main purpose b)condition to main purpose c) representation to main purpose d)none of the above

Last Answer : a) collateral to main purpose