Law of Contract - Lecture 1

An agreement enforceable by law is a

• Promise

• Contract

• Obligation

• Lawful Promise

A proposal when accepted becomes a

• Promise

• Contract

• Offer

• Acceptance

Arun has two cars- one of white colour and another of red colour. He offers to sell one of the cars to Basu thinking that he is selling the car which has white colour. Basu agrees to buy the car thinking that Arun is selling the car which has red colour. Will this agreement becomes a valid contract?

• Yes

• No

• Insufficient information

• None of the above

A and B agree to deal in smuggled goods and share the profits. A refuses to give B’s share of profit. In

this case:

• B can enforce the agreement in the court

• B can only claim damages

• B has no remedy as the contract is illegal

• B can enforce the contract and claim damages

On the face of a ticket, it is mentioned that to look for the terms and conditions look behind. Mr. A bought

the ticket but didn’t read the terms and conditions. He:

• is not bound by the terms and condition

• may decide to bound by certain terms and ignore others

• is bound by all the terms and conditions whether he read it or not

• none of the above