Assertion (A): An agreement made without consideration is generally void under the Indian Contract Act, 1872. Reason (R): Consideration is regarded as the price for which the promise of another is bought. Choose the correct answer from the options given below:

Question

Business Studies · Indian Contract Act 1872

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Indian Contract Act 1872?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Business Studies · Indian Contract Act 1872

The Dandi March, also known as the Salt Satyagraha, was led by which influential leader?

Which act formally granted independence to India, marking the end of British rule?

Who was the key figure in establishing the Indian National Congress?

Answer 1

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Answer 2

Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A)

Answer 3

Assertion (A) is true but Reason (R) is false

Answer 4

Assertion (A) is false but Reason (R) is true

Related Practice Questions