As Per Section 2 (H) An Agreement Enforceable By Law Is A

    4. Misrepresentation (section 18): “any part of an agreement, however innocent, is led to commit an error in the substance of the thing which is the subject of the agreement”. 18. In trade and commercial agreements, the intention of the parties to establish a legal relationship (a) is presumed to have existed (b) explicitly expressed in writing (c) Irrelevant or totally (d) Not applicable. 4. In the case of purely national agreements, the intention of the parties to establish a legal relationship is 10. Questionable contract 2(i): A contract is a countervailable contract if it is legally applicable at the choice of one or more of the parties (i.e. the injured party) and is not applicable by law at the choice of the other party or another party. The Indian Contract Act was passed in 1872 and came into force on September 1, 1872. The word “contract” was derived from the Latin word “contructus”, which means “to work for the account”. Contract law is based on the principle of “pacta sunt servanda”, which means that “agreements must be respected”. 30.

    If an agreement suffers from uncertainties. It`s…….. (a) Countervailable (b) Invalid (c) Unenforceable (d) Illegal. 6. Which of the following legal statements is wrong? (a) An agreement enforceable by law is a contract [§2] 9 7. NOT TO BE CANCELLED: The agreement cannot be void that has been cancelled. 8. CERTAINTY AND POSSIBILITY OF EXECUTION: the agreement must be secure and not vague or permanent.

    9. LEGAL FORMALITIES: the contract must be in writing. The document in which the contract is written must be affixed, must be registered. So there has to be an agreement and it should be enforceable by law. An agreement must be based on a legitimate counterpart on both sides. .