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Under the Indian Contract Act, 1872, the enforceability at Law of an agreement requires:
- a)Lawful agreement
- b)Lawful consideration
- c)Free consent of the parties to the agreement
- d)All of the above
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Under the Indian Contract Act, 1872, the enforceability at Law of an a...
The enforceability at law of an agreement under the Indian Contract Act, 1872, requires the following:
1. Lawful Agreement:
- The agreement must be lawful, which means it must not be expressly declared void by the law or be of such a nature that it is considered illegal, immoral, or opposed to public policy.
- It must also fulfill the essential elements of a valid contract, such as offer and acceptance, intention to create legal relations, certainty of terms, etc.
2. Lawful Consideration:
- Consideration is an essential element of a contract. It refers to something of value given by one party to the other in exchange for the promise or performance of the other party.
- The consideration must be lawful, meaning it must not be illegal, immoral, or against public policy.
- It can be in the form of money, goods, services, or even forbearance to do something.
3. Free Consent:
- Consent refers to an agreement of parties on the same thing in the same sense.
- For a contract to be enforceable, the consent of the parties must be free, genuine, and not obtained through coercion, undue influence, fraud, misrepresentation, or mistake.
- Consent must be given voluntarily, without any external pressure or improper inducement.
Therefore, the enforceability at law of an agreement under the Indian Contract Act, 1872, requires all of the above conditions to be satisfied, making option D, "All of the above," the correct answer.
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Under the Indian Contract Act, 1872, the enforceability at Law of an agreement requires:a)Lawful agreementb)Lawful considerationc)Free consent of the parties to the agreementd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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