Which of the following is a essential element of a valid contract?
Options
AOffer
BAcceptance
CConsideration
DAll of the above
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Indian Contract Act, 1872MCQQuestion 5798 of 6
All Questions Correct Answer
✅ Option D — All of the above
All Options:
- AOffer
- BAcceptance
- CConsideration
- DAll of the above ✓
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Detailed Solution & Explanation
A contract is an agreement between two or more parties that is enforceable by law. For a contract to be valid, it must have certain essential elements, which include: - One party makes a proposal to the other. - The other party accepts the proposal. - Something of value is exchanged between the parties. Therefore, all of the above options are essential elements of a valid contract.
This solution has been verified by multiple AI reviewers for accuracy.
Key Concepts to Understand
Consideration
Something of value exchanged for a promise. 'Quid Pro Quo' (Something for something).
Acceptance
When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. Acceptance must be absolute and unqualified (Section 7, ICA 1872). A conditional acceptance is a counter-offer.
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