The Contract Act, 1872: Preliminaries and Definitions
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Express contract</p> Signup and view all the answers

    According to Section 182 - 238, what falls under the scope of the Contract Act, 1872?

    <p>Bailment agreements</p> Signup and view all the answers

    Which type of contract is characterized by obligations to be performed at a later time?

    <p>Executory Contract</p> Signup and view all the answers

    What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?

    <p>Quasi Contract</p> Signup and view all the answers

    Which element is essential for a contract to be valid?

    <p>Certainty</p> Signup and view all the answers

    In which type of contract must there be at least two parties involved?

    <p>Bilateral Contract</p> Signup and view all the answers

    What type of offer requires legal relationship, certain terms, and communication?

    <p>Express Offer</p> Signup and view all the answers

    Which type of contract is characterized by obligations to be performed at a later time?

    <p>Executory Contract</p> Signup and view all the answers

    What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?

    <p>Quasi Contract</p> Signup and view all the answers

    What is the key requirement for an agreement to be considered a contract?

    <p>Intention to create Legal Relationship</p> Signup and view all the answers

    Which type of offer requires legal relationship, certain terms, and communication?

    <p>Express Offer</p> Signup and view all the answers

    What is the classification of a contract based on the method of formulation?

    <p>Implied Contracts</p> Signup and view all the answers

    What is the essential requirement for an agreement to be considered a contract?

    <p>Mutual consent of parties</p> Signup and view all the answers

    According to Section 10 of the Contract Act, who is competent to contract?

    <p>Any person of sound mind and not disqualified by law</p> Signup and view all the answers

    What is the classification of a contract based on the time of its performance?

    <p>Executed contract</p> Signup and view all the answers

    What is the term for a contract that is not strictly a contract, though the parties act as if there is a contract?

    <p>Quasi-contract</p> Signup and view all the answers

    Which element is essential for a contract to be valid?

    <p>Free consent of parties</p> Signup and view all the answers

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