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What is the age of majority for entering into a contract as per the Indian Contract Act 1872?
What is the age of majority for entering into a contract as per the Indian Contract Act 1872?
- 16 years
- 21 years
- 18 years (correct)
- 20 years
Which of the following is not a type of contract as per the Indian Contract Act 1872?
Which of the following is not a type of contract as per the Indian Contract Act 1872?
- Voidable contract
- Informal contract (correct)
- Quasi-contract
- Unilateral contract
In which section of the Indian Contract Act 1872, is the concept of 'Free Consent' defined?
In which section of the Indian Contract Act 1872, is the concept of 'Free Consent' defined?
- Section 14
- Section 17 (correct)
- Section 22
- Section 10
What is the maximum number of persons that can be parties to a contract as per the Indian Contract Act 1872?
What is the maximum number of persons that can be parties to a contract as per the Indian Contract Act 1872?
Under the Indian Contract Act 1872, what is the general limitation period for filing a suit for breach of contract?
Under the Indian Contract Act 1872, what is the general limitation period for filing a suit for breach of contract?
In which section of the Indian Contract Act 1872, is the concept of 'Coercion' defined?
In which section of the Indian Contract Act 1872, is the concept of 'Coercion' defined?
Flashcards
Age of Majority (Contract Act)
Age of Majority (Contract Act)
The age at which an individual can legally enter into a contract, as per the Indian Contract Act, is 18 years.
Informal Contract (Act Type)
Informal Contract (Act Type)
According to the Indian Contract Act 1872, 'Informal contract' is not defined as a specific type of contract.
'Free Consent' (Section)
'Free Consent' (Section)
'Free Consent' is defined in Section 17 of the Indian Contract Act 1872.
Maximum Parties to a Contract
Maximum Parties to a Contract
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Breach of Contract Suit (Time Limit)
Breach of Contract Suit (Time Limit)
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'Coercion' (Section)
'Coercion' (Section)
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Study Notes
Indian Contract Act 1872
- The age of majority for entering into a contract is 18 years.
- A "Wagering Agreement" is not a type of contract as per the Indian Contract Act 1872.
- The concept of 'Free Consent' is defined in Section 14 of the Indian Contract Act 1872.
- There is no maximum number of persons that can be parties to a contract as per the Indian Contract Act 1872.
- The general limitation period for filing a suit for breach of contract is 3 years from the date of breach, as per the Indian Contract Act 1872.
- The concept of 'Coercion' is defined in Section 15 of the Indian Contract Act 1872.
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