INDIAN CONTRACT ACT | LEGAL ASPECTS OF LAW | NTA UGC NET COMMERCE
NTA OCT 2020
Which one is the correct sequence implied in the Indian Contract Act 1872?
- Offer of proposal
- Contract
- Promise
- Agreement
- Acceptance
- C,E,A,D,B
- D,B,C,A,E
- B,D,C,E,A
- A,E,C,D,B
Ans : 4
INDIAN CONTRACT ACT,1872
The Indian Contract Act was enacted on 25 April 1872 and it came into force on September 1, 1872.Applicable all over India (after Jammu& Kashmir Reorganisation Act 2019 came into existence)
Promise = Offer + Acceptance
Agreement 2(e)= Promise2 (b) + Consideration2(d)
Contract 2(h) = Agreement + Enforceability
According to Sec 10 of Indian Contract Act,1872 “ all agreements are contracts if they are made by the free consent of the parties, competent to contract, for a lawful consideration & with a lawful object & are not expressly declared to be void.
