Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Promise |
Acc to [sec.2(b)] when the person to whom the proposal is made signifies his assent thereto,the proposal is said to be accepted. A proposal when accepted, becomes a promise |
|
|
Reciprocal promises |
Acc to [sec.2(f) ] promises form consideration or part of consideration for each other are called reciprocal promises |
|
|
Agreement |
Acc to [sec.2(e)] every promise and every set of promises,forming consideration for each other is an agreement. |
|
|
Contract |
Acc to [sec.2(h)] of the indian contract act , the term contract is defined as " an agreement enforceable by law". |
|
|
Section 10 |
As per section 10 of Indian contact act " all agreements are contracts if they are made by the free consent of the parties competent to contract,for a lawful consideration and with a lawful object and are not expressly declared to be void." |
