CA Foundation Exam  >  CA Foundation Questions  >  Which of the following statements are not cor... Start Learning for Free
Which of the following statements are not correct?
  • a)
    Right of one party is the obligation of another party
  • b)
    Every contract is an agreement, but every agreement is not contract
  • c)
    “Quantum meruit” means void from the beginning
  • d)
    Social agreements are legally enforceabl
Correct answer is option 'C,D'. Can you explain this answer?
Verified Answer
Which of the following statements are not correct?a)Right of one party...
Explanation:
The correct statements among the given options are A and B. The incorrect statements are C and D. Here's a detailed explanation:
A: Right of one party is the obligation of another party:
- This statement is correct as it represents the basic principle of contracts. One party's right implies that the other party has the corresponding obligation.
B: Every contract is an agreement, but every agreement is not a contract:
- This statement is correct. An agreement refers to a mutual understanding between two or more parties, while a contract is a legally enforceable agreement. Therefore, every contract is an agreement, but not every agreement fulfills the legal requirements to be considered a contract.
C: "Quantum meruit" means void from the beginning:
- This statement is incorrect. "Quantum meruit" is a Latin term that means "as much as he deserves." It refers to a legal principle where a party is entitled to receive fair compensation for the services or goods provided, even if there is no specific contract in place.
D: Social agreements are legally enforceable:
- This statement is incorrect. Social agreements, such as promises made between friends or family members, are generally not legally enforceable unless they fulfill specific legal requirements, such as consideration and intention to create legal relations.
In summary, the correct statements are A and B, while the incorrect statements are C and D.
View all questions of this test
Explore Courses for CA Foundation exam
Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer?
Question Description
Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer?.
Solutions for Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer?, a detailed solution for Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? has been provided alongside types of Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following statements are not correct?a)Right of one party is the obligation of another partyb)Every contract is an agreement, but every agreement is not contractc)Quantum meruit means void from the beginningd)Social agreements are legally enforceablCorrect answer is option 'C,D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev