Test: The Indian Contract Act, 1872- 1

Indian Contract Act is describe that how to do contract with other perso and legal right,fraud,mistake and so many thing describe in this book in Indian Contrat Act social or domestic agreement is not considerd
It came into force on "1st september 1872"

therefore it is known as "Indian Contract Act 1872"

Section 2 (h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law.

A void agreement is defined under section 2(g) of Indian Contract Act, 1872, as an agreement which cannot be enforceable by law, i.e. such agreements cannot be challenged in the court of law. Such an agreement lacks legal consequences, and so, it does not confer any rights to the parties concerned. A void agreement is void from the day, it is created and can never turn into the contract.

(i) An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract;

(j) A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable

Offer should not contain a term the non-compliance of which would amount to acceptance: The offer should not impose on the offered an obligation to reply. While making an offer, the offer or cannot say that if the offer is not accepted before a certain date it will be presumed to have been accepted.

When a contract is entered into without the free consent of the party, it is considered a voidable contract. The definition of the act states that a voidable contract is enforceable by law at the option of one or more parties but not at option of the other parties.

Correct Answer :- d

Explanation : Constitute consideration can be an anything of significant worth, for example, a thing or services, from the each party to a lawfully restricting agreement must consent to trade if the agreement is to be substantial. For instance, on one side party offers consideration, the understanding isn't legitimately a coupling contract.

A promise that is unenforceable because of uncertainty or absence of commonality, where just one side will undoubtedly perform.  Consideration isn't official if the promise doesn't make an obligation or force a commitment, for example, with illusory promises. Illusory promises remember end provisions for agreements and yield and necessities contracts.

Consideration is the doing or not doing of something which the promisor desires to be done or not done. Consideration must be at the desire of the promisor.

Correct Answer :- b

Explanation : There can be a stranger to a consideration but not a stranger to a contract signifies that a consideration may move from Promisee or any other person.

consideration is a benefit which must be bargained for between the parties

both are essential for contract if a contract is only agreement and it does not create legal obligation then it would never be a contract.

A minor is liable to pay out of his property for 'necessaries' supplied to him or to anyone whom he is legally bound to support.

Section 30 of the Indian Partnership Act, provides that though a minor cannot be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of partnership by an agreement executed through his guardian with the other partners.

 According to Section 10 of the Indian Contract Act, 1872, to constitute a valid contract, parties should enter into the contract with their free Consent. Consent is said to be free when it is not obtained by coercion, or undue influence or fraud or misrepresentation or mistake.

A voidable contract is where one party has the right to enforce or cancel the contract. If a party does not cancel the contract, then it remains as a valid contract and has to be performed like a valid contract. An agreement when found to be caused by coercion, fraud or misrepresentation becomes voidable at the option of the party whose consent was caused. On the other hand, if consent is caused by a bilateral mistake, the agreement becomes void, and there is ‘no consent’.

Threat to commit suicide is an act forbidden by Indian Penal Code under the provision of Indian Contract Act,1872.Hence it comes under coercion.

Collateral agreements of an illegal agreement cannot be enforceable by law as they are void ab initio.

As per section 2(g) an agreement which is unenforceable is void. Thus in an agreement the object or consideration of which is unlawful makes it unenforceable and becomes void agreement.

Discharge of contract means termination of the contractual relationship between the parties. A contract is said to be discharged when it ceases to operate, i.e., when the rights and obligations created by it come to an end.

Anticipatory Breach of Contract: It occurs when prior to the due date of performance, the promisor absolutely refuses or disables himself from the performance of his obligations. In other words, it is a declaration by one party of his intention not to perform his obligations under the contract.

An anticipatory breach of contract is an action that shows one party's intention to fail to fulfill its contractual obligations to another party. Demonstrating the other party's intention to breach the contract gives the counterparty grounds for beginning legal action.