A agrees with B to sell all his goods stored in warehouse at Ahmedabad for Rs 50 000 The agreement i...........

Indian Contract Act (ICA)1872 Valid and Void Contracts

A agrees with B to sell all his goods stored in warehouse at Ahmedabad for Rs 50,000. The agreement is

Valid

Void

illegal

contigent

- Option 1: Valid

- A contract is valid when it includes an offer, acceptance, consideration, and intends to create legal relations.

- Selling goods in exchange for payment meets these criteria, making this a valid agreement.

- Correct Answer: Option 1 - Valid

- Option 2: Void

- A contract is void if it lacks legal effect from the beginning.

- This happens if it involves illegal activities, or if essential elements are missing.

- This is not the case here.

- Option 3: Illegal

- An illegal agreement involves activities forbidden by law.

- Selling goods in a warehouse is not illegal in itself.

- Option 4: Contingent

- A contingent contract depends on an uncertain future event.

- This agreement doesn't seem contingent as described.

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