Statement (I): Agreement without consideration is always valid.
Statement (II): All contracts are agreements but all agreements are not contracts.
In the context of the above two statements, which one of the following option is correct?

A) Statements (I) and (II) both are correct B) Both Statements (I) and (II) are incorrect C) Statement (I) is incorrect and Statement (II) is correct D) Statement (I) is correct but Statement (II) is incorrect

Answer & Solution

Correct Answer: Option C

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Statement (I) Agreement without consideration is always valid Statement (II) All...

Statement (I): Agreement without consideration is always valid. Statement (II): All contracts are agreements but all agreements are not contracts. In the context of the above two statements, which one of the following option is correct?

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Related Questions on Legal Aspects of Business

Statement (I): Agreement without consideration is always valid.
Statement (II): All contracts are agreements but all agreements are not contracts.
In the context of the above two statements, which one of the following option is correct?