73.
The answer is: B
Explanation
The correct option is B: There is intention to create legal relation.
Contractual liability is the responsibility or obligation that one party assumes on behalf of another under a contract. For a contract to be legally binding, there must be an offer and acceptance, consideration, and intention to create legal relation. The intention to create legal relation means that the parties agree to be bound by the terms of the contract and are willing to accept the consequences of breaching it.
The other options are not correct because:
- A: There is offer and acceptance only. This is not enough to create contractual liability, as there must also be consideration and intention to create legal relation.
- C: There is loss to one party. This is not a requirement for contractual liability, as the contract may not involve any loss or damage to either party. Contractual liability is about the assumption of liability, not the occurrence of loss.
- D: The loss of one party is the gain of other party. This is not a condition for contractual liability, as the contract may not result in any loss or gain for either party. Contractual liability is about the transfer of risk, not the distribution of benefits.