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Questions and Answers
What is the act of one person signifying willingness to do or abstain from doing anything with a view to obtaining the assent of another called?
What is the act of one person signifying willingness to do or abstain from doing anything with a view to obtaining the assent of another called?
- Acceptance
- Consideration
- Proposal (correct)
- Revocation
In the Indian contract act, what is the term used for the assent of the person to whom the proposal is made?
In the Indian contract act, what is the term used for the assent of the person to whom the proposal is made?
- Counter-offer
- Performance
- Acceptance (correct)
- Void contract
What is the term used in the Indian contract act for the act of withdrawing the proposal before it is accepted?
What is the term used in the Indian contract act for the act of withdrawing the proposal before it is accepted?
- Revocation (correct)
- Voidable contract
- Rejection
- Consideration
What is the act of one person signifying willingness to do or abstain from doing anything with a view to obtaining the assent of another called?
What is the act of one person signifying willingness to do or abstain from doing anything with a view to obtaining the assent of another called?
What term is used in the Indian contract act for the assent of the person to whom the proposal is made?
What term is used in the Indian contract act for the assent of the person to whom the proposal is made?
What is the term used in the Indian contract act for the act of withdrawing the proposal before it is accepted?
What is the term used in the Indian contract act for the act of withdrawing the proposal before it is accepted?
Flashcards
Proposal
Proposal
An act by one person signifying their willingness to perform an action (or abstain from performing an action) to get another person's agreement.
Acceptance
Acceptance
The agreement of the person who receives the proposal.
Revocation
Revocation
The act of taking back a proposal before it's been accepted.
Offer
Offer
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Consent
Consent
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Revocation
Revocation
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Study Notes
Contract Essentials
- An offer is the act of one person signifying willingness to do or abstain from doing anything with a view to obtaining the assent of another.
- Acceptance is the term used in the Indian Contract Act for the assent of the person to whom the proposal is made.
- Revocation is the term used in the Indian Contract Act for the act of withdrawing the proposal before it is accepted.
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