Exam 2: Fundamentals of Contract Law: Acceptance, Validity, and Performance

Which of the following does not constitute valid acceptance

As a general rule, an agreement made without consideration is

If a person accepts a lesser sum of money than what was contracted for, in the discharge of the whole debt, it is known as

X contracts to sell his scooter to Y for Rs. 50,000 and Y agrees to pay on delivery. Both the parties perform their promises. This is called

For the enforcement of a promise to pay a time-barred debt without consideration, which of the following condition is not required?

The doctrine of impossibility of performance, rendering a contract void, is based on

Performance of a contract means

Which is not the essential of a valid tender?

An agreement made with free consent to which the consideration is lawful but inadequate, is

Which of the following is not the legal requirements of a valid offer

Which of the following is incorrect?

Which of the following is correct?

_________ indicates that the parties are not further bound under the contract

Offer to perform is called

Rescission of a contract means

Assignment by the operation of law takes place

When the parties mutually agree to change certain terms of the contract. This is called

Where a party to contract transfers his rights under the contract to another person, it is legally known as

The offer to perform the contract must be

An offer of performance is known as a/an