Arrange the following process of making of a contract in the chronological sequence from the first to…
Under Section 2 of the Indian Contract Act, 1872, the formation of a valid contract follows the exact statutory sequence: (C) Offer or Proposal [Sec. 2(a)] → (E) Acceptance…
Choose your answer
Arrange the following process of making of a contract in the chronological sequence from the first to the last.
A. Agreement
B. Promise
C. Offer or proposal
D. Contract
E. Acceptance
Answer and explanation
Correct answer A
Under Section 2 of the Indian Contract Act, 1872, the formation of a valid contract follows the exact statutory sequence: (C) Offer or Proposal [Sec. 2(a)] → (E) Acceptance of the proposal [Sec. 2(b)] → (B) Promise (an accepted proposal becomes a promise) → (A) Agreement [every promise and set of promises forming consideration for each other, Sec. 2(e)] → (D) Contract [an agreement enforceable by law, Sec. 2(h)] (C, E, B, A, D).
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UGC NET Commerce