BUSINESS ADMINISTRATION
BUSINESS LAW
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -A purported offer that lacks essential information is legally ineffective. An executed contract is a contract that has not been fully performed. A person who is not the intended offeree can accept the offer. Advertisements that ask the offeree to perform an act as a way of accepting cannot be considered offers.
Detailed explanation-2: - A void contract [4302.14]is a contract having no legal force or binding effect (e.g., a contract entered into for an illegal purpose);
Detailed explanation-3: -The Indian Contract Act 1872 defines acceptance in Section 2 (b) as “When the person to whom the proposal has been made signifies his assent thereto, the offer is said to be accepted. Thus the proposal when accepted becomes a promise.”