Assertion (A) : A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, But not afterwards.
Reason (R) : Section 5 of the Indian contract Act 1872, deals with the revocation of proposals and acceptances.
Code :
Assertion A Analysis: Proposal Revocation Timing
Assertion (A) states that a proposal can be revoked anytime before the acceptance is complete against the proposer, but not afterwards. This statement accurately reflects the legal position regarding the revocation of proposals.
- The revocation must be communicated to the other party.
- Revocation is effective only when it comes to the knowledge of the person to whom it is made.
- Once acceptance is complete against the proposer (i.e., the acceptance is communicated to the proposer), the proposal cannot be revoked.
Therefore, Assertion (A) is correct.
Reason R Analysis: Section 5 of Indian Contract Act
Reason (R) correctly identifies that Section 5 of the Indian Contract Act, 1872, governs the revocation of proposals and acceptances.
Section 5 specifically states: "A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards."
This directly corresponds to the principle mentioned in Assertion (A).
Connecting Assertion and Reason
Reason (R) provides the specific legal provision (Section 5 of the Indian Contract Act, 1872) that validates the statement made in Assertion (A). The section explains precisely when a proposal can be revoked, aligning perfectly with the assertion.
- Assertion (A) describes the rule for revocation.
- Reason (R) cites the legal section that establishes this rule.
Thus, both statements are correct, and Reason (R) serves as the correct explanation for Assertion (A).
Important Questions from Indian Contract Act, 1872
Which one is False as per the relevant provisions of the Indian Contract Act. 1872?
Which one is the correct sequence implied in the Indian Contract Act 1872?
(A) Offer of proposal
(B) Contract
(C) Promise
(D) Agreement
(E) Acceptance
Choose the correct answer from the options given below:
Statement I: Contracts whose objects or consideration are unlawful are void.
Statement II: Contracts in restraint of legal proceedings are void.
- What are the features of Income tax Return - 1 (Sahaj)
i. Tax payers whose total income does not exceed Rs.50 lakh during the F.Y, and income assessed under the head Salary
ii. Income tax from Salary, one house property, family pension, agriculture income upto Rs.5000 can be filed
iii. ITR-1 cannot be filed by any individual who has income from business or profession.
iv. ITR -1 Sahaj is also called as ITR -1 Sugam - Which statements are correct about the provisions of Sec 40 (B) Remuneration to partners ?
i. Remuneration is allowed to working and non working partners
ii. Must be authorised by partnership deed
iii. Maximum limit
a. If book profit is negative, in case of loss Rs.1,50,000
b. In case of book profit on the first Rs.3,00,000 of book profit-1,50,000 Or 90% book profit, whichever is higher. On the balance of the book profit - 60%
iv. Maximum rate of interest is 15%
