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Which of the following best describes the type of contract between A and B in the example?
Which of the following best describes the type of contract between A and B in the example?
- A social agreement
- A void contract
- A unilateral contract
- A bilateral contract (correct)
According to the definition in the text, what is the key element that distinguishes an 'offer' or 'proposal' from other types of statements?
According to the definition in the text, what is the key element that distinguishes an 'offer' or 'proposal' from other types of statements?
- The offer must be made with the view to obtaining the assent of the other party. (correct)
- The offer must be made with the intention to create legal relations.
- The offer must be made in writing.
- The offer must be made for the transfer of property.
Based on the information provided, which of the following would NOT be considered a valid 'offer' or 'proposal'?
Based on the information provided, which of the following would NOT be considered a valid 'offer' or 'proposal'?
- A invites B to his house for dinner. (correct)
- A promises to give B ₹1,000 if B scores 90% in the exam.
- A offers to mow B's lawn for ₹500.
- A promises to sell his plot to B for ₹10 lakhs cash down.
In the example, what is the significance of B paying ₹2,50,000 as earnest money to A?
In the example, what is the significance of B paying ₹2,50,000 as earnest money to A?
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?
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?
In the example, what is the legal relationship between A and B with respect to the plot of land?
In the example, what is the legal relationship between A and B with respect to the plot of land?
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?
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?
Why are social or domestic agreements not enforceable in a court of law as per the text?
Why are social or domestic agreements not enforceable in a court of law as per the text?
What is essential in a contract of sale to ensure the validity of the agreement as per the text?
What is essential in a contract of sale to ensure the validity of the agreement as per the text?
In a partnership dissolution, why couldn't the partners be considered both buyer and seller of the firm's assets as per the text?
In a partnership dissolution, why couldn't the partners be considered both buyer and seller of the firm's assets as per the text?
Why was the transaction in State of Gujarat vs. Ramanlal S & Co. not considered a sale?
Why was the transaction in State of Gujarat vs. Ramanlal S & Co. not considered a sale?
What is crucial for any agreement to result in a contract as per the text?
What is crucial for any agreement to result in a contract as per the text?
In an executed contract, what marks the completion of the contract?
In an executed contract, what marks the completion of the contract?
Which type of contract involves reciprocal promises or obligations to be performed in the future?
Which type of contract involves reciprocal promises or obligations to be performed in the future?
What characterizes a unilateral contract?
What characterizes a unilateral contract?
What signifies the existence of an executed contract?
What signifies the existence of an executed contract?
In an executory contract, what type of consideration is typically involved?
In an executory contract, what type of consideration is typically involved?
Which scenario indicates a unilateral contract turning into an executed contract?
Which scenario indicates a unilateral contract turning into an executed contract?
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