Contractually Speaking

What is the correct definition of contract under Contracts Act 1950?

• Contract is an agreement enforceable by law

• Contract is an agreement between two parties

• Contract is an agreement that was agreed amicably

• Contract is an agreement written down and agreed.

Contract can be made orally and by writing only.

• True

• False

In the case of Carlil v Carbolic Smokeball, the item that was advertised was

• A bottle of ginger ale

• A protected bird

• A medicine for flu

• A piece of land

Under S. 7 (a) of the Contracts Act 1950, acceptance must be ?

• Clear and certain

• Agreed and confirmed

• Accepted and uncontested

• Absolute and unqualified

This is a case on acceptance:-

Hyde v _ _ _ _ _ _ (1840) 3 Beav 334

Consideration can move from a third party.

• True

• False

Under S. 26 of Contracts Act 1950, an agreement without _________ is void.

• Love

• offer

• acceptance

• consideration

Under Section __ of the Contracts Act 1950, Minors and persons of unsound mind lack the capacity to contract.

• 10

• 11

• 13

• 15

As a general rule, social or domestic agreements are not considered to be legally binding

• True

• False

•  Void contract means the innocent party has the option to proceed or rescind (cancel) the contract

• True

• False