CA Foundation Exam > CA Foundation Videos > Business Laws for CA Foundation > Offer & Acceptance: Indian Contract Act, 1872
Offer & Acceptance: Indian Contract Act, 1872 Video Lecture | Business Laws for CA Foundation
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FAQs on Offer & Acceptance: Indian Contract Act, 1872 Video Lecture - Business Laws for CA Foundation
| 1. What is an offer in the context of the Indian Contract Act 1872? |  |
Ans. An offer in the Indian Contract Act 1872 is a proposal made by one party to another party expressing a willingness to enter into a contract under certain terms and conditions.
| 2. How is acceptance defined in the Indian Contract Act 1872? | |
Ans. Acceptance in the Indian Contract Act 1872 refers to the unconditional agreement by the party to whom the offer is made, to all the terms and conditions of the offer.
| 3. Can silence be considered as acceptance under the Indian Contract Act 1872? | |
Ans. According to the Indian Contract Act 1872, silence cannot be considered as acceptance unless there is a specific provision in the contract stating that silence will be treated as acceptance.
| 4. What are the essentials of a valid offer under the Indian Contract Act 1872? | |
Ans. The essentials of a valid offer under the Indian Contract Act 1872 include intention to create legal relations, definite and clear terms, communication of the offer, and the offer must be made with the intention of obtaining the consent of the other party.
| 5. Is an offer revocable under the Indian Contract Act 1872? | |
Ans. Yes, an offer is generally revocable unless it is made for a specific period of time or is made irrevocable by the offeror. The revocation of an offer must be communicated to the offeree before acceptance.
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Nov 21, 2024 Last updated |
Video Description: Offer & Acceptance: Indian Contract Act, 1872 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation.
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