BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
If a person is threatened to enter into a contract, they are lacking the element of
|
|
validity
|
|
|
genuine assent
|
|
|
acceptance
|
|
|
no element is lacking
|
Explanation:
Detailed explanation-1: -Legal Principle: A contract procured by coercion is bad under Indian Contract Act. Coercion is defined as committing or threatening to commit any act forbidden by the Indian Penal Code.
Detailed explanation-2: -Example: agreeing to pay someone to commit a crime cannot be a contract Consideration The agreement must involve both sides receiving something of legal value as a result of the transaction.
Detailed explanation-3: -Genuine assent may be lacking due to mistake, fraudulent misrepresentation, undue influence, or duress. As was true with contracts entered into by persons lacking contractual capacity, contracts lacking genuine assent are voidable, not void.
There is 1 question to complete.