Question: Answer all questions. State TRUE for the true statement and FALSE for the false statement. (BUSINESS LAW QUESTIONS) Statement 1: According to Section 2 (a)
Answer all questions. State TRUE for the true statement and FALSE for the false statement. (BUSINESS LAW QUESTIONS)
Statement 1: According to Section 2 (a) of the Contract Act 1950, a "contract" is an agreement enforceable by law.
Statement 2: Anyone who has received a benefit from a contract declared void, shall return any benefits received or to compensate the other party.
Statement 3: Basically, any contract entered into by a child is considered null and void since the very beginning.
Statement 4: One of the legal principles decided in the case of Weatherby vs. Banham is "proposals should be made in a clear, complete and conclusive" manner.
Statement 5: Acceptance of an agreement must be made in writing.
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