Quiz on The Indian Contract Act, 1872

What is the short title of the Act discussed in the text?

• The Transfer of Property Act

• The Indian Contract Act, 1872

• The Indian Penal Code

• The Sale of Goods Act

What is defined as a proposal in the context of the Act?

• A promise made without consideration

• A contract that is void

• A willingness to do or abstain from doing something

• An agreement between two parties

What is the effect of a contract caused by a mistake of one party as to a matter of fact?

• It is void

• It is voidable

• It is enforceable

• It is valid

What is a contingent contract as defined in the Act?

• A contract that is void

• A contract that is voidable

• A contract to do something if a certain event happens

• A contract that is enforceable

What is the definition of 'free consent' as per the Act?

• Consent given under undue influence

• Consent given under coercion

• Consent given voluntarily

• Consent given with conditions

Which of the following is a lawful consideration according to Section 23?

• An agreement to commit a crime

• An agreement to sell stolen goods

• An agreement to provide services

• An agreement to defraud

What happens to a contract if both parties are under a mistake as to a matter of fact?

• It is enforceable

• It is valid

• It is voidable

• It is void

What is the effect of a contract that becomes impossible after it is made?

• It remains valid

• It becomes void

• It is enforceable

• It becomes voidable

What is the term used for a contract that is not enforceable by law?

• Enforceable

• Void

• Valid

• Voidable

What is the definition of 'consideration' in the context of the Act?

• A legal obligation

• A contract that is void

• An act or abstinence for a promise

• A promise made without conditions