CA Foundation Exam > CA Foundation Questions > An agreement made with free consent to which ...
Start Learning for Free
An agreement made with free consent to which the consideration is lawful but inadequate, is
- a)void
- b)valid
- c)voidable
- d)unlawful
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
An agreement made with free consent to which the consideration is lawf...
Explanation:
When analyzing the given options, we need to understand the concepts of free consent, consideration, and adequacy of consideration in the context of contract law.
Free Consent:
- Free consent refers to the agreement made by parties without any coercion, undue influence, fraud, misrepresentation, or mistake.
Consideration:
- Consideration is something of value given by each party to a contract that induces them to enter into the agreement.
- It can be in the form of money, goods, services, or even a promise to do or refrain from doing something.
Adequacy of Consideration:
- Adequacy of consideration refers to whether the value exchanged between the parties is fair and reasonable.
- Generally, the law does not concern itself with the adequacy of consideration as long as it is legally sufficient.
Analysis of Options:
- Option A: Void
- Option B: Valid
- Option C: Voidable
- Option D: Unlawful
In contract law, a void agreement is one that is not enforceable by law and has no legal effect. However, the given scenario does not indicate any reason for the agreement to be void.
A valid agreement is one that meets all the essential elements of a contract, including free consent, lawful consideration, capacity to contract, etc. In the given scenario, although the consideration is inadequate, there is no indication of any lack of free consent. Therefore, the agreement can still be considered valid.
A voidable agreement is one that is initially valid but can be canceled or avoided by one of the parties due to certain legal grounds, such as fraud, misrepresentation, or undue influence. However, the given scenario does not provide any indication of such grounds for the agreement to be voidable.
An unlawful agreement is one that violates the law or goes against public policy. The given scenario states that the consideration is lawful, so it cannot be categorized as an unlawful agreement.
Conclusion:
Based on the analysis of the options, the correct answer is Option B: Valid. Even though the consideration is inadequate, the agreement can still be considered valid as long as there is free consent and lawful consideration.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer?
Question Description
An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. 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 An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. 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 An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer?.
An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. 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 An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. 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 An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer?.
Solutions for An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. 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 An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice An agreement made with free consent to which the consideration is lawful but inadequate, isa)voidb)validc)voidabled)unlawfulCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup