n NISM Certifications
NSM General NISM
Medium

What are the elements of a valid contract?

Practice question from IC 38 Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Offer and rejection, consideration, mutual distrust, free consent

  2. Offer and acceptance, mutual benefit, agreement between parties, free consent

    Correct answer

  3. C

    Offer and acceptance, coercion, unilateral benefit, free consent

  4. D

    Offer and consideration, unilateral agreement, legal object, coercion

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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