What Is an Agreement Enforceable by Law? (MCQ)
An agreement enforceable by law refers to a legally binding contract that is recognized and upheld by the judicial system. When two or more parties enter into an agreement, it is essential to understand whether it is enforceable by law, as this determines the rights and obligations of the parties involved. This article will explore the concept of an agreement enforceable by law through a series of multiple-choice questions (MCQs), followed by a FAQs section to address common queries related to this topic.
MCQs:
1. What is an agreement?
a) A mutual understanding between two or more parties
b) A legally binding contract
c) A verbal promise
d) None of the above
Answer: a) A mutual understanding between two or more parties
2. Which of the following agreements are enforceable by law?
a) Social agreements
b) Commercial agreements
c) Domestic agreements
d) All of the above
Answer: b) Commercial agreements
3. Which of the following elements are necessary for an agreement to be enforceable by law?
a) Offer and acceptance
b) Intention to create legal relations
c) Consideration
d) All of the above
Answer: d) All of the above
4. True or False: Agreements made without consideration are always unenforceable.
Answer: False. Agreements made without consideration are generally unenforceable, but there are exceptions such as agreements made out of love and affection.
5. What is the legal age for parties to enter into an enforceable agreement?
a) 16 years
b) 18 years
c) 21 years
d) It depends on the jurisdiction
Answer: d) It depends on the jurisdiction. Different jurisdictions may have varying legal ages for entering into contracts.
6. What is the significance of an intention to create legal relations in an agreement?
a) It determines the validity of the agreement
b) It ensures that the agreement is enforceable by law
c) It determines the jurisdiction where the agreement can be enforced
d) None of the above
Answer: b) It ensures that the agreement is enforceable by law
7. What happens if one party breaches an enforceable agreement?
a) The breaching party may be held liable for damages
b) The agreement becomes void
c) The agreement is terminated with no legal consequences
d) None of the above
Answer: a) The breaching party may be held liable for damages
FAQs:
Q1. Can verbal agreements be enforceable by law?
A1. Yes, verbal agreements can be enforceable by law, but it may be difficult to provide evidence of the agreement in case of a dispute. Written agreements are generally recommended to avoid ambiguity.
Q2. Are all agreements enforceable by law?
A2. No, not all agreements are enforceable by law. Agreements that lack the necessary elements like offer, acceptance, consideration, and intention to create legal relations may not be legally binding.
Q3. Can an agreement be enforced if one party is coerced or under duress?
A3. No, an agreement entered into under coercion or duress is considered voidable, and the affected party has the right to reject or disaffirm the agreement.
Q4. What is the statute of limitations for enforcing an agreement?
A4. The statute of limitations varies depending on the jurisdiction and the type of agreement. Generally, it ranges from 3 to 10 years.
Q5. Can a minor enter into an enforceable agreement?
A5. Minors (individuals below the legal age of majority) generally lack the capacity to enter into enforceable agreements. However, certain agreements, such as contracts for necessities, may be enforceable against minors.
In conclusion, an agreement enforceable by law is a legally binding contract that requires offer and acceptance, consideration, and an intention to create legal relations. While commercial agreements are typically enforceable, social and domestic agreements may not be. It is important to understand the elements that make an agreement enforceable and seek legal advice when necessary to ensure the validity and enforceability of any agreement.