All India Bar Examination (AIBE) 15-XV Previous Year Question Papers with Answers

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52.

The definition of Contract is defined under

A: Section 2(a) of the Indian Contract Act.
B: Section 2(h) of the Indian Contract Act.
C: Section 2(d) of the Indian Contract Act.
D: Section 2(g) of the Indian Contract Act

The answer is: B

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Explanation

The correct option is B: Section 2(h) of the Indian Contract Act.

According to this section, a contract is defined as "an agreement enforceable by law". This means that a contract is a legally binding agreement between two or more parties who have a common intention to create legal obligations. A contract has two essential elements: an agreement and legal enforceability. An agreement is formed when one party makes an offer and the other party accepts it. Legal enforceability means that the parties can sue each other in case of breach of contract. The other options are incorrect because they define different terms related to contract law, such as offer, acceptance, consideration, and void agreement.