CA Foundation Exam > CA Foundation Questions > Which of the following statement is true?a)An...
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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 option 'A,B'. Can you explain this answer?
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Verified Answer
Which of the following statement is true?a)An agreement enforceable by...
Statement A: An agreement enforceable by law is a contract.
- This statement is true. A contract is a legally binding agreement between two or more parties. For an agreement to be considered a contract, it must be enforceable by law.
Statement B: An agreement is an accepted proposal.
- This statement is true. An agreement is a mutual understanding or arrangement between two or more parties regarding their rights and obligations. It is formed when one party makes an offer and the other party accepts that offer.
Statement C: An agreement can only consist of an offer.
- This statement is false. While an agreement can include an offer, it is not limited to just an offer. It also includes the acceptance of that offer, creating a mutual understanding between the parties involved.
Statement D: An agreement can only consist of an acceptance.
- This statement is false. An agreement consists of both an offer and an acceptance. Without an offer, there can be no acceptance and therefore no agreement.
In conclusion, statements A and B are true, while statements C and D are false.
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- This statement is true. A contract is a legally binding agreement between two or more parties. For an agreement to be considered a contract, it must be enforceable by law.
Statement B: An agreement is an accepted proposal.
- This statement is true. An agreement is a mutual understanding or arrangement between two or more parties regarding their rights and obligations. It is formed when one party makes an offer and the other party accepts that offer.
Statement C: An agreement can only consist of an offer.
- This statement is false. While an agreement can include an offer, it is not limited to just an offer. It also includes the acceptance of that offer, creating a mutual understanding between the parties involved.
Statement D: An agreement can only consist of an acceptance.
- This statement is false. An agreement consists of both an offer and an acceptance. Without an offer, there can be no acceptance and therefore no agreement.
In conclusion, statements A and B are true, while statements C and D are false.
Most Upvoted Answer
Which of the following statement is true?a)An agreement enforceable by...
A ans. is correct ......because an agreement to become a contract must give rise to a legal obligation which means a duly enforceable by law .....i.e intention to create legal obligation
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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 option 'A,B'. Can you explain this answer?
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