Podcast
Questions and Answers
What is the definition of a contract according to Section 2h?
What is the definition of a contract according to Section 2h?
- A verbal agreement
- An agreement enforceable by law (correct)
- A written agreement
- An informal arrangement
According to Section 10, who is competent to contract?
According to Section 10, who is competent to contract?
- Only those over the age of 21
- Only those with legal qualifications
- Anyone regardless of age or mental capacity
- Anyone of sound mind and over the age of 18 (correct)
What is the key requirement for an agreement to be considered a contract?
What is the key requirement for an agreement to be considered a contract?
- It must be approved by a judge
- It must be enforceable by law (correct)
- It must be in writing
- It must be made in front of a lawyer
What is the classification of a contract based on the method of formulation?
What is the classification of a contract based on the method of formulation?
According to Section 182 - 238, what falls under the scope of the Contract Act, 1872?
According to Section 182 - 238, what falls under the scope of the Contract Act, 1872?
Which type of contract is characterized by obligations to be performed at a later time?
Which type of contract is characterized by obligations to be performed at a later time?
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
Which element is essential for a contract to be valid?
Which element is essential for a contract to be valid?
In which type of contract must there be at least two parties involved?
In which type of contract must there be at least two parties involved?
What type of offer requires legal relationship, certain terms, and communication?
What type of offer requires legal relationship, certain terms, and communication?
Which type of contract is characterized by obligations to be performed at a later time?
Which type of contract is characterized by obligations to be performed at a later time?
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
What is the key requirement for an agreement to be considered a contract?
What is the key requirement for an agreement to be considered a contract?
Which type of offer requires legal relationship, certain terms, and communication?
Which type of offer requires legal relationship, certain terms, and communication?
What is the classification of a contract based on the method of formulation?
What is the classification of a contract based on the method of formulation?
What is the essential requirement for an agreement to be considered a contract?
What is the essential requirement for an agreement to be considered a contract?
According to Section 10 of the Contract Act, who is competent to contract?
According to Section 10 of the Contract Act, who is competent to contract?
What is the classification of a contract based on the time of its performance?
What is the classification of a contract based on the time of its performance?
What is the term for a contract that is not strictly a contract, though the parties act as if there is a contract?
What is the term for a contract that is not strictly a contract, though the parties act as if there is a contract?
Which element is essential for a contract to be valid?
Which element is essential for a contract to be valid?
Flashcards
What is a contract?
What is a contract?
An agreement enforceable by law.
Who is competent to contract?
Who is competent to contract?
Anyone of sound mind and over the age of 18.
What makes an agreement a contract?
What makes an agreement a contract?
It must be enforceable by law.
Express Contract
Express Contract
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What does the Contract Act, 1872 cover?
What does the Contract Act, 1872 cover?
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Executory Contract
Executory Contract
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Quasi Contract
Quasi Contract
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What's essential for a valid contract?
What's essential for a valid contract?
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Bilateral Contract
Bilateral Contract
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Express Offer
Express Offer
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What makes an agreement a contract?
What makes an agreement a contract?
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Implied Contract
Implied Contract
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What's essential for an agreement to be a contract?
What's essential for an agreement to be a contract?
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Who is competent to contract?
Who is competent to contract?
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Executed Contract
Executed Contract
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Quasi-contract
Quasi-contract
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What makes a contract valid?
What makes a contract valid?
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Implied Contract
Implied Contract
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Executed Contract
Executed Contract
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What makes a contract valid?
What makes a contract valid?
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