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Assertion: Every contract must be supported by a consideration.
Reason: A contract without a consideration is void.
Reason: A contract without a consideration is void.
- a)Both Assertion and Reason are correct and Reason is the correct explanation for AssertionCorrect Answer
- b)Both Assertion and Reason are correct but Reason is not the correct explanation for AssertionYour Answer
- c)Assertion is correct but Reason is incorrect
- d)Assertion is incorrect but Reason is correct
Correct answer is option 'A'. Can you explain this answer?
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Assertion:Every contract must be supported by a consideration.Reason:A...
Understanding Contracts and Consideration
In legal terms, a contract is an agreement between parties that creates mutual obligations enforceable by law. One of the fundamental principles of contract law is the necessity of consideration.
Assertion: Every Contract Must Be Supported by Consideration
- Consideration refers to something of value that is exchanged between the parties involved in a contract.
- It can be money, services, goods, or a promise to act or refrain from acting.
- Without consideration, a contract is generally not enforceable, as it lacks the necessary element to establish a legal obligation.
Reason: A Contract Without Consideration is Void
- A contract that lacks consideration is considered void, meaning it has no legal effect.
- This principle ensures that both parties have a stake in the agreement, which promotes fairness and prevents one-sided contracts.
- Courts typically do not enforce agreements that are purely gratuitous (i.e., without consideration).
Conclusion: Relationship Between Assertion and Reason
- Both the assertion and the reason are indeed correct.
- The assertion states a fundamental requirement for contracts, while the reason explains why that requirement exists.
- Thus, the reason provides a valid explanation for the assertion, confirming that consideration is essential for the validity of a contract.
In summary, the relationship between the assertion and the reason illustrates the legal principle that consideration is crucial for any enforceable contract, making option 'A' the correct answer.
In legal terms, a contract is an agreement between parties that creates mutual obligations enforceable by law. One of the fundamental principles of contract law is the necessity of consideration.
Assertion: Every Contract Must Be Supported by Consideration
- Consideration refers to something of value that is exchanged between the parties involved in a contract.
- It can be money, services, goods, or a promise to act or refrain from acting.
- Without consideration, a contract is generally not enforceable, as it lacks the necessary element to establish a legal obligation.
Reason: A Contract Without Consideration is Void
- A contract that lacks consideration is considered void, meaning it has no legal effect.
- This principle ensures that both parties have a stake in the agreement, which promotes fairness and prevents one-sided contracts.
- Courts typically do not enforce agreements that are purely gratuitous (i.e., without consideration).
Conclusion: Relationship Between Assertion and Reason
- Both the assertion and the reason are indeed correct.
- The assertion states a fundamental requirement for contracts, while the reason explains why that requirement exists.
- Thus, the reason provides a valid explanation for the assertion, confirming that consideration is essential for the validity of a contract.
In summary, the relationship between the assertion and the reason illustrates the legal principle that consideration is crucial for any enforceable contract, making option 'A' the correct answer.
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Assertion:Every contract must be supported by a consideration.Reason:A contract without a consideration is void.a)Both Assertion and Reason are correct and Reason is the correct explanation for AssertionCorrect Answerb)Both Assertion and Reason are correct but Reason is not the correct explanation for AssertionYour Answerc)Assertion is correct but Reason is incorrectd)Assertion is incorrect but Reason is correctCorrect answer is option 'A'. Can you explain this answer?
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