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Questions and Answers
Which of the following best describes the type of contract between A and B in the example?
According to the definition in the text, what is the key element that distinguishes an 'offer' or 'proposal' from other types of statements?
Based on the information provided, which of the following would NOT be considered a valid 'offer' or 'proposal'?
In the example, what is the significance of B paying ₹2,50,000 as earnest money to A?
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If A and B had a social agreement for A to mow B's lawn every week for free, which of the following would be true?
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In the example, what is the legal relationship between A and B with respect to the plot of land?
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In the case of State of Gujarat vs. Ramanlal S & Co., why did the sales tax officer want to tax the transaction of dividing the assets among the partners?
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Why are social or domestic agreements not enforceable in a court of law as per the text?
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What is essential in a contract of sale to ensure the validity of the agreement as per the text?
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In a partnership dissolution, why couldn't the partners be considered both buyer and seller of the firm's assets as per the text?
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Why was the transaction in State of Gujarat vs. Ramanlal S & Co. not considered a sale?
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What is crucial for any agreement to result in a contract as per the text?
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In an executed contract, what marks the completion of the contract?
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Which type of contract involves reciprocal promises or obligations to be performed in the future?
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What characterizes a unilateral contract?
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What signifies the existence of an executed contract?
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In an executory contract, what type of consideration is typically involved?
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Which scenario indicates a unilateral contract turning into an executed contract?
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