NOTES


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The Indian Contract Act, 1872 - Nature and type of contracts Notes

Q1. Explain in brief the rules relating to ‘acceptance’ of an offer under the provisions of the Indian Contract Act, 1872

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Q2. What are the essential elements of a valid contract? State in brief.

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Q3. “All contracts are agreements, but all agreements are not contracts”. Comment.

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Q4. Father promised to pay his son a sum of ₹ one lakh if the son passed C.A. examination in the first attempt. The son passed the examination in the first attempt, but father failed to pay the amount as promised. Son files a suit for recovery of the amount. State along with reasons whether son can recover the amount under the Indian Contract Act, 1872. Whether promise by a father to pay ₹ 1 Lakh if the son passes CA Exams in first attempt is a valid contract?

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Q5. State the points of differences between illegal agreements and void agreements.

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