question_answer

Directions This section consists of fifty (50) questions. Each question consists of legal propositions principles (hereinafter referred to as 'principle') and facts. These principles have to be applied to the given facts to arrive at the most reasonable conclusion. Such principles may or may not be true in the real sense, yet you have to conclusively assume them to be true for the purposes of this section. In other words, in answering the following questions, you must not rely on any principles except the principles that are given here in below for every question. Further you must not assume any facts other than those stated in the question. The objective of this section is to test your interest towards study of law, research aptitude and problem solving ability even if the 'most reasonable conclusion' arrived at may be unacceptable for any other reason. It is not the objective of this section to test your knowledge of law.

Principle Generally an agreement without consideration is not valid. Therefore, in order to make a valid agreement, some consideration which may have some value in the eyes of law, is essentially required. Facts William has an old car of which he makes seldom use. He voluntarily enters into an agreement with Smith to sell this car for rupees ten thousand. Thereafter one Anson approaches William and offers to buy that car for rupees 1 lakh as the car was one which Anson has been searching for long. Now, William wants to cancel his agreement with Smith and refuses to deliver the car to him saying that consideration price for the car promised by Smith is negligible and therefore, agreement with him cannot be said to be valid one.

A)  William can cancel his agreement with Smith as the consideration involved in that is really inadequate

B)  William cannot cancel his agreement with Smith as the sale of car for rupees ten thousand was voluntary and this price has some value in the eyes of law

C)  William can cancel his agreement with Smith as he was ignorant about the value/price of the car for which it could be sold

D)  William can cancel his agreement with Smith as he is entitled to get full market value/ price of his car