The Indian Contract Act, 1872 Most Imp MCQs

(according to section 2(h) of ICA 1872 'an agreement enforceable by law is a contract.'

when one person→ signifies to →another his willingness to do/to abstain from →doing anything, he is said to make a offer.

“An agreement ↓ not enforceable by law ↓ is said to be void.

the person→ accepting→ the proposal→ called→ promisee

(according to the section 2(f) of ICA ,1872, → 'Promises which form →the consideration or part of the consideration →for each other are called →reciprocal promises.'

agreement (according to the section 2(e) of ICA ,1872 'Every promise and every set of promises, forming the consideration for each other, is an agreement.'

Sec. 2(c)t→  the person making→ the proposal→ is called→ the promiser

For Option (A) According to Section 2(B) →of the Indian Contract Act, 1872, →when the person to whom →the proposal is made signifies →his assent →the proposal → to be accepted. A proposal→ accepted→ becomes a promise. For Option (B), section 2(e), defines an agreements as→ "every promise→ every set of promise→, forming the consideration →for each other→ an agreement." A promise→ essentially→ an offer/a proposal→ made by→ a person/an entity→ towards another For Option (C)The Indian Contract Act, 1872→ defines the term →“Contract” under →its section 2 (h) as→ “An agreement→ enforceable→ by law”.

First step of contract is proposal or offer. Then another party accept the offer it’s become a promise Then promise has consideration then its become an agreement An Agreement which in enforceable by law that is Valid Contract.

“Void agreement→ not enforceable by law →Accorrding to section 2(g) of Indian Contract act.