Statement (I): Agreement without consideration is always valid.<br>Statement (II): All contracts are agreements but all agreements are not contracts.<br>In the context of the above two statements, which one of the following option is correct?

Assertion (A): All illegal agreements are void, but all void agreements are not illegal.
Reason (R): Only those agreements, of which the object or consideration is unlawful, are known as illegal agreements. Select the correct answer using the given below-

A

Both (A) and (R) are true and (R) is the correct explanation of (A)

B

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

C

(A) is true but (R) is false

D

(A) is false but (R) is true

PRINCIPLE: A contract is an agreement enforceable by law. All agreements are contracts if they are made with free consent by parties competent to contract for a lawful consideration and with a lawful object.
FACT: A, a 40-year-old businessman of sound mind, agrees to sell his bungalow worth 40 lakhs for 1 lakh. The agreement is:
(1) Invalid due to inadequate consideration
(2) Valid as there is lawful consideration
(3) Valid as A entered into it with free consent
(4) Valid because A has capacity to contract.

A

1 only

B

2 and 3 only

C

3 only

D

2, 3 and 4

Consider the following statements:
1. When consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the party whose consent was so caused.
2. Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void.
Which of the statements given above is/are correct?

A

1 only

B

2 only

C

Both 1 and 2

D

Neither 1 nor 2

Consider the following statements and point out which of them is correct?
1. An Agreement made without consideration is void.
2. Consideration should have some value in the eyes of the law.
3. Consideration has to be adequate.
Which of the statements given above is/are correct?

A

1, 2 and 3

B

1 and 3

C

3 only

D

1 and 2

Consider the following statements:
1. An agreement made without adequate consideration is void.
2. A written and registered agreement made on account of a natural love and affection between the close relatives is not valid without adequate consideration.
Choose the correct option from below:

A

Only 1 is correct

B

Only 2 is correct

C

Both 1 and 2 are correct

D

Both 1 and 2 are incorrect

Consider the following statements:
1. An agreement in writing based on natural love and affection between near relatives is enforceable without consideration.
2. An agreement to which consent of the promisor is freely given is not void merely because the consideration is inadequate.
Which of the statements given above is/are correct?

A

1 only

B

2 only

C

Both 1 and 2

D

Neither 1 nor 2

Read the following information carefully and answer the questions that follow: Seven persons Tina, Vini, Yasir, Rishi, Sanya, Pankaj and Urmila live on the separate floors of a 7- floor building. Ground floor is number one; second floor is number two and so on. Each of them goes to a city viz. Paris, Istanbul, Shanghai, Durban, London, Madrid and Dubai but not necessarily in the same order. Only three people live above the floor on which Sanya lives. Only one person lives between Sanya and the one who goes to Paris. Vini lives just below the person who goes to Madrid. Only three people live between the one who goes to Paris and London. The person who goes to Madrid lives on an even numbered floor. Urmila lives just above Rishi. Urmila does not go to London. Only two persons live between Pankaj and the one who goes to Durban. Pankaj lives above the person who goes to Durban. Yasir does not go to Istanbul. Tina does not live just above or just below Sanya. The one who goes to Shanghai does not live just above or just below Pankaj. Who among the following lives on floornumber 7?

A

Tina\

B

Yasir

C

Pankaj

D

Urmila

Statement I Every contract in an agreement but every agreement is not a contract.
Statement II All agreements are contracts, if they are made by the free consent of parties.

A

Statement I is correct, but Statement II is incorrect

B

Statement II is correct, but Statement I is incorrect

C

Both statements are correct

D

Both statements are incorrect

Consider the following statements in respect of criminal conspiracy:
1. There has to be always an agreement to commit an offence
2. The agreement must be between two or more persons
3. Unlawful means always be used
4. The agreement may be for any act prohibited by the law
Which of the statements given above is/are correct?

A

1 and 3

B

2 and 3

C

3 only

D

2 and 4

Seven people A, B, C, D, E, F and G live on separate floors of a 7-floor building. Ground floor is numbered 1, first floor is numbered. 2 and so on until the topmost floor is numbered 7. Each one of these having a different cars-Cadillac, Ambassador, Fiat, Maruti, Mercedes, Bedford and Fargo but not necessarily in the same order. Only three people live above the floor on which A lives. Only one person lives between A and the one having a car Cadillac. F lives immediately below the one having a car Bedford. The one having a car Bedford lives on an even-numbered floor. Only three people live between the ones having a car Cadillac and Maruti. E lives immediately above C. E is not having a car Maruti. Only two people live between B and the one having a car Fargo. The one having a car Fargo lives below the floor on which B lives. The one having a car Fiat does not live immediately above D or immediately below B. D does not live immediately above or immediately below A. G does not have a car Ambassador. Question : How many people live between the floors on which D and the one having a car Bedford ?

A

One

B

Two

C

Three

D

Four