Indian Contract Act MCQ question and answer | Law MCQ question

Accord and satisfaction are terms related to

There can also be . . . . . . . . by estoppel

When a bookseller advertises that he has a stock of books to sell, he is making

Goods may be pledged

Under Indian Contract Act, goods displayed in a shop window with a prize label will amount to-

A valid Lease can be determined by

A appoints B as his agent, by way of a power of attorney. This is an example of

The communication of a proposal is complete when it comes to the

PRINCIPLE: A contract is an agreement enforceable by law. All agreements are contracts if they are made with free consent by parties competent to contract for a lawful consideration and with a lawful object.
FACT: A, a 40-year-old businessman of sound mind, agrees to sell his bungalow worth 40 lakhs for 1 lakh. The agreement is:
(1) Invalid due to inadequate consideration
(2) Valid as there is lawful consideration
(3) Valid as A entered into it with free consent
(4) Valid because A has capacity to contract.

A party rescinding a contract: