For a binding contract both the parties to the contract must: (a) Agree upon the same thing in the - (a) Agree upon the same thing in the same sense Description: As per Section 13, "two or more parties are said to have consented when they agree upon the same thing in the same sense i.e, consensus - ad- idem". It is an essential element that is required to make a valid contarct. Putting the offers and counter offer results in rejection of the original offer. - Nature of contracts Interview Questions and Answers

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MERCANTILE LAW

NATURE OF CONTRACTS

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Question: For a binding contract both the parties to the contract must:
(a) Agree upon the same thing in the same sense
(b) Put the offers and counter offer
(c) Stipulate their individual offer and consideration
(d) Not agree with each other

Answer: (a) Agree upon the same thing in the same sense
Description: As per Section 13, "two or more parties are said to have consented when they agree upon the same thing in the same sense i.e, consensus - ad- idem". It is an essential element that is required to make a valid contarct. Putting the offers and counter offer results in rejection of the original offer.

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Question: For a binding contract both the parties to the contract must:
(a) Agree upon the same thing in the same sense
(b) Put the offers and counter offer
(c) Stipulate their individual offer and consideration
(d) Not agree with each other

Answer:

(a) Agree upon the same thing in the same sense
Description: As per Section 13, "two or more parties are said to have consented when they agree upon the same thing in the same sense i.e, consensus - ad- idem". It is an essential element that is required to make a valid contarct. Putting the offers and counter offer results in rejection of the original offer. Source: CoolInterview.com

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