All agreements are . . . . . . . . if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void.

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

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

Following is/are essentialt(s) of valid contract as per Indian Contract Act, 1872.
(1) Parties to contract should have capacity to contract.
(2) Parties to contract should have legal mind.
(3) Parties to contract should be intelligent.
(4) Invitation to offer should be accepted.
Find correct answer:

A

Only (1) and (4) are correct

B

Only (1) is correct

C

All of above are correct

D

Only (2) is correct

E

None of these

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

A married male can adopt:
(1) Only with his wife's consent
(2) Only with his wife's consent, when she is living with him
(3) If he has more than one wife, consent of all the wives is necessary
(4) If marriage is void, the wife's consent is not necessary
(5) In the case of voidable marriage, the Wife's consent is necessary

A

(1), (3), (4) and (5)

B

(2), (3), (4) and (5)

C

(1), (4), and (5)

D

(2), (3), and (4)

Which of the following descriptions are correct?
1. Two competent parties - Sections 11 and 12
2. Valid acceptance - Sections 4 to 7
3. Lawful consideration - Sections 2(d) and 25
4. Free and voluntary consent - Sections 15 and 19A

A

2 and 4 only

B

1 and 4 only

C

2, 3 and 4

D

1, 2, 3 and 4

Whether consideration under a contract, for the contract to be valid, can only be exchanged between the parties to the contract, and not by or between third persons who are not parties to the contract?

A

Consideration can be paid even by third party to a contract

B

Consideration to a contract cannot be paid by third party to a contract, except when payment is by a negotiable instrument

C

Consideration can be exchanged even between third parties to a contract but only when third parties are legal heirs of the original parties to the contract

D

Consideration can be exchanged between persons who are not parties to the contract if at least some part of the consideration is received between the parties to the contract

Propositions are
1. Gift made during marz-ul-maut to a heir is valid without the consent of other heirs under Sunnite law
2. Gift made during marz-ul-maut to a heir is valid without the consent of other heirs under Ithna Ashari law
3. Gift made during marz-ul-maut to a heir is valid only with the consent of other heirs, under Sunnite law
4. Gift made during marz-ul-maut to a heir is valid only with the consent of other heirs under the Shia law.
Which amongst the following is correct

A

1 is true 2-3-4 are false

B

1 & 2 are true 3 & 4 are false

C

2 & 3 are true 1 & 4 are false

D

3 & 4 are true 1 & 2 are false

Which of the following statements are true?
(1) Minor's contract can be ratified on attaining majority.
(2) Minor's contract cannot be ratified on attaining majority.
(3) Minor's contract can be ratified jointly by both the parties to the contract.
(4) Minor is not liable under minor's contract.
(5) Minor's contract is an enforceable contract.

A

1 and 3

B

5 and 2

C

2 and 4

D

2 and 3

E

3 and 4

Consider the following :
1. The perpetual struggle of Ins and Outs for political power turns the legislature into a battlefield and in this struggle the interests of the country are forgotten.
2. Parties encourage hollowness and insincerity. They divide not only the legislature but the nation into hostile camps. During national emergencies, parties can hardly transcend their petty differences and present a united front.
3. Parties often over-reach themselves and indulge in unwholesome and immoral activities live bribing the legislators
4. Parties tend to become antonomous and to regard organisations as important for their own sake. Principles are thus subordinated to success at polls and issues are not considered on merit.
Which of the above statements make a valid criticism of political parties?
Select the correct answer from the following:

A

1 and 2

B

1, 2 and 3

C

1, 2 and 4

D

1, 2, 3 and 4