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What do you mean by Agreement? - Commerce

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प्रश्न

What do you mean by Agreement?

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उत्तर

An “agreement” means a promise or a set of promises forming consideration for each other. A promise arises when a proposal is accepted. By implication, an agreement is an accepted proposal. In other words, an agreement consists of an ‘offer’ and its ‘acceptance’.
Agreement = offer/Proposal + Acceptance

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Meaning and Definition of the Indian Contract Act
  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 29: Elements of Contract - Exercises [पृष्ठ ३०३]

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सामाचीर कलवी Commerce [English] Class 11 TN Board
पाठ 29 Elements of Contract
Exercises | Q III. 2. | पृष्ठ ३०३
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