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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?
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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.
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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.
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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?
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