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Commerce · Q250

Legal Aspects of Business

Graduate and Post Graduate · Commerce · question 250

Q250

Statement (I): Agreement without consideration is always valid. Statement (II): All contracts are agreements but all agreements are not contracts. In the context of the above two statements, which one of the following option is correct?

A.
Statements (I) and (II) both are correct
B.
Both Statements (I) and (II) are incorrect
C.
Statement (I) is incorrect and Statement (II) is correct
Answer
D.
Statement (I) is correct but Statement (II) is incorrect

Answer: Option C

Solution

Answer: Option C
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