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      Question

      Which of the following conditions must be met for an

      agreement to be considered a contract?
      A The agreement must be made with the free consent of competent parties, for a lawful consideration and object, and must not be expressly declared void Correct Answer Incorrect Answer
      B The agreement must be in writing and signed in the presence of witnesses to be valid Correct Answer Incorrect Answer
      C The agreement must not involve any lawful consideration or object, but should only be made by competent parties Correct Answer Incorrect Answer
      D The agreement must be declared void if it is not written and witnessed, irrespective of its content Correct Answer Incorrect Answer
      E The agreement must comply with the laws requiring written contracts and registration, even if it meets the other conditions Correct Answer Incorrect Answer

      Solution

      Explanation: Contract Act Section 10. What agreements are contracts: All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Nothing herein contained shall affect any law in force in India and not hereby expressly repealed by which any contract is required to be made in writing or in the presence of witnesses, or any law relating to the registration of documents.  

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