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If an agreement is made by ram to purchase a car and in exchange of that to give 5 lakh rupees to Mr Shyam. In this agreement May promises be called, made by both party , a set of promises? First of all answer in yes or no.?
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If an agreement is made by ram to purchase a car and in exchange of th...
Yes

Explanation:


  • Agreement as a Set of Promises: Yes, the agreement made by Ram to purchase a car and give 5 lakh rupees to Mr. Shyam can be considered as a set of promises made by both parties. Ram promises to purchase the car, and in exchange, Mr. Shyam promises to receive 5 lakh rupees.

  • Legal Validity: The agreement between Ram and Mr. Shyam constitutes a contract, which is a legally binding agreement between two parties. Both parties are making promises to each other, and if one party fails to fulfill their promise, the other party can take legal action.

  • Consideration: In this agreement, the consideration is the car purchased by Ram and the 5 lakh rupees given by Mr. Shyam. Consideration is an essential element of a contract, and in this case, both parties are providing something of value to each other.

  • Enforceability: The promises made by Ram and Mr. Shyam in the agreement are enforceable in a court of law. If either party breaches the agreement by not fulfilling their promise, the other party can seek legal remedies to enforce the contract.

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If an agreement is made by ram to purchase a car and in exchange of that to give 5 lakh rupees to Mr Shyam. In this agreement May promises be called, made by both party , a set of promises? First of all answer in yes or no.?
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If an agreement is made by ram to purchase a car and in exchange of that to give 5 lakh rupees to Mr Shyam. In this agreement May promises be called, made by both party , a set of promises? First of all answer in yes or no.? 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 If an agreement is made by ram to purchase a car and in exchange of that to give 5 lakh rupees to Mr Shyam. In this agreement May promises be called, made by both party , a set of promises? First of all answer in yes or no.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If an agreement is made by ram to purchase a car and in exchange of that to give 5 lakh rupees to Mr Shyam. In this agreement May promises be called, made by both party , a set of promises? First of all answer in yes or no.?.
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