Contract Law

Under Section 42-44 of the Indian Contract Act, 1872, when two or more persons are jointly liable for a debt, the death of one of them results in the devolution of his liability upon his legal representatives (heirs). This is based on the principle of succession, not survivorship. Survivorship typically applies to co-owners where the surviving party acquires the deceased's interest automatically, but joint contractual liabilities pass to the deceased's estate and successors.

Section 11 of the Indian Contract Act, 1872 states that every person is competent to contract who is of the age of majority (18 years, or 21 if under guardianship) and is of sound mind. Both conditions must be satisfied - a person must be both of proper age AND of sound mental capacity to be legally capable of entering into a binding contract. Intelligence alone is not the standard; the law specifies age and mental fitness.

Section 2(i) of the Indian Contract Act defines a voidable agreement as one that is enforceable by law at the option of one or more parties but not at the option of the other(s). A voidable contract is valid and binding unless and until the aggrieved party chooses to avoid it. A void contract is never enforceable; a valid contract is binding on all parties; an illegal contract is prohibited by law.

A general offer made to the world at large (like Carlill v Carbolic Smoke Ball Co.) can be accepted not by sending a communication of acceptance, but by actually performing the conditions specified in the offer. The offeror dispenses with the need for communication of acceptance, and performance of the act constitutes acceptance. Mere intention to comply (tendering oneself) is insufficient - actual compliance is required.

This is the correct option. ‘Retracts’ here implies to withdraw or draw back from a contract.

Countersign refers to the act of adding a second signature to authenticate or validate a document that has already been signed by another person. It's commonly used in formal documents, military orders, and financial transactions to provide an additional layer of verification and authority.

This transaction's property states that an incomplete transaction can't disclose its result to other transactions until it is committed.

An agreement not to marry at all or not to marry any particular person or class of persons is void as it is in restraint of marriage.

Voidable contract: An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of other or others, is a voidable contract. Thus, if the consent is not free, the contract becomes voidable at the option of the party whose consent was not free.

There is no material alteration in the following cases: (i) Correction of a mistake (ii) To carry out the common intention of the parties (iii) An alteration made before an instrument is issued and made with the consent of the parties (iv) Crossing of instrument (v) Addition of the words “on demand” in an instrument where no time of payment is stated

Under Section 20 of the Indian Contract Act, 1872, when both parties are under a mistake of fact regarding a fundamental fact essential to the agreement, the contract is void. This makes option C correct - a mutual mistake of fact renders the agreement invalid from the beginning.

Section 12 of the Specific Relief Act, 1963 specifically addresses when specific performance can be ordered for part of a contract. This is discretionary and depends on whether partial performance can provide adequate relief and whether the partial performance is divisible from the rest. Other sections in this range deal with different aspects like who can obtain specific performance and the nature of the contractual right.

Under Section 133 and 134 of Indian Contract Act, 1872, a surety stands discharged both when the principal debtor is released/discharged by the creditor, and when there's a material variance in contract terms without surety's consent.

Under Section 27 of Indian Contract Act, 1872, agreements in restraint of trade are void except when they relate to sale of goodwill. The buyer of goodwill may be restrained from carrying on similar business at the seller's location, provided it's reasonable in area and time.

For a valid contract, acceptance must be communicated to the proposer. Mere internal acceptance (writing 'accepted' but not sending) is insufficient. The postal rule states that acceptance is complete on posting, but here the acceptance was never posted. Therefore, no agreement exists as there was no communication of acceptance.