New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Which of the following statements regarding contracts is

    true?
    A Even if a proposal is not accepted properly it becomes a valid contract Correct Answer Incorrect Answer
    B The agreements which are against the public policy can be enforced if the parties are willing to contract Correct Answer Incorrect Answer
    C A contract can consist of an offer or an acceptance only Correct Answer Incorrect Answer
    D Two are more persons are said to consent when they agree upon the same thing in the same sense Correct Answer Incorrect Answer

    Solution

    Two or more persons are said to consent if they agree upon the same thing in the same sense. Consent is said to be free when it is not caused by coercion, on undue influence, or fraud, or misrepresentation, or mistake. When consent to an agreement is caused by coercion, undue influence, fraud or misrepresentation, the agreement is a contract voidable (rescindable or terminable) at the option of the party whose consent was so caused. However, when consent to an agreement is caused by mistake as to a matter of fact essential to the agreement, the agreement is void.

    Practice Next