If both the parties to a contract believe in the existence of a subject, which infact does not exist, the agreement would be

Related MCQs

• When both the parties to an agreement are under a mistake as to a matter of fact essential to an agreement, the agreement is:
• An agreement made under mistake of fact, by both the parties, forming the essential subject matter of the agreement is:
• If the performance of contract becomes impossible because the subject matter of contract has ceased to exist then :
• 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
• A minor enters into agreement representing himself to be a major consider the following statement: 1. Minor commits fraud if the other party does not have personal knowledge of his age 2. Such agreement is not enforceable 3. The doctrine of estoppel does not apply in minor's case 4. Other party is entitled to get back the benefit passed to minor, if innocent about his age Which of the statements given above are correct?
• 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 :
• For binding contract both the parties to the contract must
• 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
• After a transaction has ripened into a contract, does it require the consent of both parties to revoke or modify it?
• 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 :