Indian Contract Act - Study Mode
[#1101] When both the parties to agreement are at mistake regarding facts, the agreement will
Correct Answer
(D) Be void
[#1102] Which judicial pronouncement of the Queen's Bench of England had dealt with the concept of 'general offer'?
Correct Answer
(A) Carlill v. Carbolic Smoke Ball Co.
[#1103] Frustration of contract implies
Correct Answer
(B) Physical impossibility due to disappearance of the subject matter of the contract or the object has failed to materialise
[#1104] A contract of insurance is what kind of contract?
Correct Answer
(B) Contract of indemnity
[#1105] Anuj says to Ramesh, "if he would be interested in purchasing his bike for Rs. 10,000?" Ramesh immediately takes Rs. 10,000 to Anuj and says he wants to buy the bike. The result is:
Correct Answer
(A) A binding contract is formed
Explanation
Solution: In this scenario, Anuj made an offer to sell his bike to Ramesh for Rs. 10,000, and Ramesh immediately accepted the offer by providing the requested amount. This constitutes a valid acceptance, and both parties have expressed their mutual consent to enter into the contract. As a result, a binding contract is formed between Anuj and Ramesh.