20 Questions
What is the definition of a contract according to Section 2h?
An agreement enforceable by law
According to Section 10, who is competent to contract?
Anyone of sound mind and over the age of 18
What is the key requirement for an agreement to be considered a contract?
It must be enforceable by law
What is the classification of a contract based on the method of formulation?
Express contract
According to Section 182 - 238, what falls under the scope of the Contract Act, 1872?
Bailment agreements
Which type of contract is characterized by obligations to be performed at a later time?
Executory Contract
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
Quasi Contract
Which element is essential for a contract to be valid?
Certainty
In which type of contract must there be at least two parties involved?
Bilateral Contract
What type of offer requires legal relationship, certain terms, and communication?
Express Offer
Which type of contract is characterized by obligations to be performed at a later time?
Executory Contract
What is the term for contracts that are not contracts strictly, though the parties act as if there is a contract?
Quasi Contract
What is the key requirement for an agreement to be considered a contract?
Intention to create Legal Relationship
Which type of offer requires legal relationship, certain terms, and communication?
Express Offer
What is the classification of a contract based on the method of formulation?
Implied Contracts
What is the essential requirement for an agreement to be considered a contract?
Mutual consent of parties
According to Section 10 of the Contract Act, who is competent to contract?
Any person of sound mind and not disqualified by law
What is the classification of a contract based on the time of its performance?
Executed contract
What is the term for a contract that is not strictly a contract, though the parties act as if there is a contract?
Quasi-contract
Which element is essential for a contract to be valid?
Free consent of parties
Test your understanding of the Contract Act, 1872 with a focus on the preliminaries of contract and the definition of contract. Explore sections 1 to 75, indemnity, guarantee, bailment, agency, and more.
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