New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    'A' agrees to provide a loan to "B" for import of

    banned products. The agreement between A & B is:
    A voidable Correct Answer Incorrect Answer
    B valid Correct Answer Incorrect Answer
    C void Correct Answer Incorrect Answer
    D illegal Correct Answer Incorrect Answer

    Solution

    An agreement which is against the provisions of the law which is enforceable in India shall be considered as an illegal agreement. Therefore, for an agreement to be illegal either the object or the consideration should be illegal, which will render the agreement as an illegal.

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