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Valid Contract:
- a)In case of this collateral agreements are void.
- b)Not enforceable in a court of law.
- c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others
- d)Enforceable at the option of both the parties
Correct answer is option 'D'. Can you explain this answer?
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Valid Contract:a)In case of this collateral agreements are void.b)Not ...
Explanation:
A valid contract is an agreement that is legally binding and enforceable in a court of law. In order for a contract to be considered valid, it must meet certain requirements such as offer, acceptance, consideration, and intention to create legal relations.
Options A and B:
These options are incorrect as they state that collateral agreements are void and not enforceable in a court of law. Collateral agreements are agreements that are made in addition to the main contract and are usually related to the performance of the contract. While collateral agreements may not be enforceable under certain circumstances, they are not automatically void.
Option C:
This option describes a contract that is only enforceable at the option of one or more of the parties involved. This is known as a unilateral contract, where one party makes a promise in exchange for an act or forbearance by the other party. However, a valid contract must be enforceable at the option of both parties.
Option D:
This option is correct as it describes a contract that is enforceable at the option of both parties. This is known as a bilateral contract, where both parties make mutual promises to perform certain actions or provide certain goods or services. A bilateral contract is a valid contract as it meets all the necessary requirements.
Conclusion:
In conclusion, a valid contract must meet certain requirements such as offer, acceptance, consideration, and intention to create legal relations. It must also be enforceable at the option of both parties, which is known as a bilateral contract.
A valid contract is an agreement that is legally binding and enforceable in a court of law. In order for a contract to be considered valid, it must meet certain requirements such as offer, acceptance, consideration, and intention to create legal relations.
Options A and B:
These options are incorrect as they state that collateral agreements are void and not enforceable in a court of law. Collateral agreements are agreements that are made in addition to the main contract and are usually related to the performance of the contract. While collateral agreements may not be enforceable under certain circumstances, they are not automatically void.
Option C:
This option describes a contract that is only enforceable at the option of one or more of the parties involved. This is known as a unilateral contract, where one party makes a promise in exchange for an act or forbearance by the other party. However, a valid contract must be enforceable at the option of both parties.
Option D:
This option is correct as it describes a contract that is enforceable at the option of both parties. This is known as a bilateral contract, where both parties make mutual promises to perform certain actions or provide certain goods or services. A bilateral contract is a valid contract as it meets all the necessary requirements.
Conclusion:
In conclusion, a valid contract must meet certain requirements such as offer, acceptance, consideration, and intention to create legal relations. It must also be enforceable at the option of both parties, which is known as a bilateral contract.
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Valid Contract:a)In case of this collateral agreements are void.b)Not ...
There are some conditions which makes an contact valid void agreement are not valid contract Valid contract are enforce by law Voidable contract are not valid contract
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Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. Can you explain this answer?
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Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. 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 Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. 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 Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. Can you explain this answer?.
Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. 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 Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. 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 Valid Contract:a)In case of this collateral agreements are void.b)Not enforceable in a court of law.c)An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or othersd)Enforceable at the option of both the partiesCorrect answer is option 'D'. Can you explain this answer?.
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