Indian Contract Act - Study Mode
[#511] A appoints B as his agent, by way of a power of attorney. This is an example of
Correct Answer
(A) Express Contract
[#512] The communication of a proposal is complete when it comes to the
Correct Answer
(B) Knowledge of the person to whom it is made
[#513] 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.
Correct Answer
(D) 2, 3 and 4
[#514] A party rescinding a contract:
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(D) Can sue for damages
[#515] In which of the following types of contract, consideration is not necessary?
Correct Answer
(B) Agency