Sultan promises to pay Rs. 1 Million to Yaseen in order to induce him to retire so as to provide room for Sultan’s appointment to the public office held by Yaseen. Is agreement valid? Yes or No? Discuss the legal position as per the Contract Act.
Aslam offered sell his car for Rs. 1 Million to Ahmed. Ahmed replies, ” I will pay Rs. 9 Lacs for it. “Aslam refuses to sell at this price. Ahmed then accepts the original price but Aslam still refuses. Is Aslam bound by Ahmed’s acceptance and can Ahmed lodge a suit? Discuss the legal position as per the Contract Act 1872.
Salman, who was badly in need of money offered to sell his car worth Rs.1 Million to Saif for Rs.10, 000. Before the car was delivered, Salman received an offer of 2 Lacs and refused to carry out the contract on the ground of inadequacy of consideration. Is Salman liable to Saif for damages? Yes or No? Justify with legal reasoning with correct concept according to Contract Act, 1872.
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