CA Foundation Exam > CA Foundation Questions > Which of the following statement is true?a)An...
Start Learning for Free
Which of the following statement is true?
- a)An agreement enforceable by law is a contract
- b)An agreement is an accepted proposal
- c)An agreement can only consist of an offer
- d)An agreement can only consist of an acceptance
Correct answer is 'A,B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Which of the following statement is true?a)An agreement enforceable by...
The definition of contract is that "An agreement enforceable by law is a contract" so this option is true and
secondly an agreement is an accepted proposal this is also true both the options are true.
But I thing there should be clarity in options in exam ,only 1 option has to be correct not more than one bcoz in exam students can only mark 1 option in omr sheet..
secondly an agreement is an accepted proposal this is also true both the options are true.
But I thing there should be clarity in options in exam ,only 1 option has to be correct not more than one bcoz in exam students can only mark 1 option in omr sheet..
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following statement is true?a)An agreement enforceable by...
Agreement and Contract:
An agreement is a mutual understanding between two or more parties regarding their rights and obligations in relation to a particular matter. On the other hand, a contract is a specific type of agreement that is legally enforceable by law.
Explanation of options:
a) An agreement enforceable by law is a contract: This statement is true. A contract is an agreement that is legally enforceable. It means that if any party fails to fulfill their obligations under the contract, the other party can seek legal remedies.
b) An agreement is an accepted proposal: This statement is also true. In order for an agreement to be formed, there must be a proposal made by one party and accepted by the other party. The acceptance of the proposal results in an agreement.
c) An agreement can only consist of an offer: This statement is false. An agreement consists of both an offer and an acceptance. The offer is made by one party, while the acceptance is the agreement to the terms of the offer by the other party.
d) An agreement can only consist of an acceptance: This statement is also false. As mentioned earlier, an agreement consists of both an offer and an acceptance. The offer sets out the terms and conditions, while the acceptance is the agreement to those terms and conditions.
Conclusion:
In conclusion, statements (a) and (b) are true. An agreement enforceable by law is a contract, and an agreement is an accepted proposal. Statements (c) and (d) are false as an agreement consists of both an offer and an acceptance.
An agreement is a mutual understanding between two or more parties regarding their rights and obligations in relation to a particular matter. On the other hand, a contract is a specific type of agreement that is legally enforceable by law.
Explanation of options:
a) An agreement enforceable by law is a contract: This statement is true. A contract is an agreement that is legally enforceable. It means that if any party fails to fulfill their obligations under the contract, the other party can seek legal remedies.
b) An agreement is an accepted proposal: This statement is also true. In order for an agreement to be formed, there must be a proposal made by one party and accepted by the other party. The acceptance of the proposal results in an agreement.
c) An agreement can only consist of an offer: This statement is false. An agreement consists of both an offer and an acceptance. The offer is made by one party, while the acceptance is the agreement to the terms of the offer by the other party.
d) An agreement can only consist of an acceptance: This statement is also false. As mentioned earlier, an agreement consists of both an offer and an acceptance. The offer sets out the terms and conditions, while the acceptance is the agreement to those terms and conditions.
Conclusion:
In conclusion, statements (a) and (b) are true. An agreement enforceable by law is a contract, and an agreement is an accepted proposal. Statements (c) and (d) are false as an agreement consists of both an offer and an acceptance.
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
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer?
Question Description
Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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 Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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 Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer?.
Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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 Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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 Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer?.
Solutions for Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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 Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer?, a detailed solution for Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer? has been provided alongside types of Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following statement is true?a)An agreement enforceable by law is a contractb)An agreement is an accepted proposalc)An agreement can only consist of an offerd)An agreement can only consist of an acceptanceCorrect answer is 'A,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