A contract will still be a valid contract if is
Answers
Answer:
Most contracts only need to contain two elements to be legally valid: All parties must be in agreement (after an offer has been made by one party and accepted by the other). Something of value must be exchanged -- such as cash, services, or goods (or a promise to exchange such an item) -- for something else of value.
A contract will still be a valid contract if it is
Opposed to public policy
In restraint of marriage
In restraint of Trade
Without adequate consideration
The correct answer is :
Without adequate consideration
Explanation :
A contract will still be a valid contract if it is a contract made without adequate consideration. There is no justification for making a contract without due consideration. According to Section 10 and Section 25 of the Indian Contract 1872, a valid contract shall be deemed to be a valid contract only if there is any consideration. That is, a contract without consideration would not be a valid contract.
But there are some exceptions in this Act, under which a contract made without surety will not be considered void. Therefore, a contract made without consideration will be treated as a valid contract.
Consideration is an integral part of the contract. Consideration is a must for any contract and this is a clear rule of contract, but there are some specific exceptions to the rule of 'no idea, no contract'.
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Which of the following is correct about the Indian Contract Act, 1872?
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Collective bargaining was considered as apex of IR system is concerned with
(A)Gandhian approach
(B) Systems approach
(C) Oxford approach
(D) All of these