CBCS Solutions for B.Com Business Laws Unit 1.1 Formation of A Contract - ?Bzziii

1. Define the term Contract.

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2. Explain the following:

(a) Legal enforceability

(b) Free Consent

(c) Consideration

(d) Capacity of Parties

(e) Social Agreement

(f) Domestic Agreement

(g) Void Agreement

(h) Valid Contract 

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3. Can all agreements become valid contracts ?

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4. Differential between the following:

(a) Void Agreement and Illegal Agreement

(b) Void Contract and Voidable Contract

(c) Void Agreement and Voidable Contract

(d) Right in Rem and Right in Personam

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5. What is a Promise ?

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6.  What are reciprocal Promises ?

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7. Define the following:

(a) Express Contract

(b) Implied Contract

(c) Executed Contract

(d) Unforceable Contract

(e) Quasi Contract

(f) Standard form Contract

(g) Illegal Contract

(h) Executory Contract

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8. Can a social agreement become enforceable by law ?

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9. What is the difference between legality of object and legality of consideration ?

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10. Distinguish between void agreement and void contract.

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