For binding contract both the parties to the contract must

Related MCQs

• Each party to a contract is bound to perform his part of the obligation. After the parties have made due performance of the contract comes to an end. In such a case the contract is said to be discharged :
• After a transaction has ripened into a contract, does it require the consent of both parties to revoke or modify it?
• If both the parties to a contract believe in the existence of a subject, which infact does not exist, the agreement would be
• When parties enter into a contract on telephone the contract becomes complete at the place where acceptance is heard by the proposer. This has been provided
• When the performance of a contract becomes impossible, the purpose which the parties had in mind is frustrated. If the purpose becomes impossible because of supervening event, the promisor is excused from the performance of the contract. This is known as :
• The law regarding Novation, i.e., where a new contract is substituted in place of the old one by means of an agreement between the parties to a contract or between them and a third party, is contained in
• Where the parties to a contract have agreed that a certain sum of money would be paid in case of breach of contract, the Court will ensure that
• Where the parties to a contract agree to substitute a new contract for it, it is known as
• An agreement made under mistake of fact, by both the parties, forming the essential subject matter of the agreement is:
• When both the parties to an agreement are under a mistake as to a matter of fact essential to an agreement, the agreement is: