“A Contract is an agreement between two or more persons which is intended to be enforceable at law and is contracted by the acceptance by one party of an offer made to him by the other party to do or abstain from doing some act”. - Whose statement is this?
Explanation & Strategy
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Under the Negotiable Instruments Act, the three negotiable instruments are: promissory note (S.4), bill of exchange (S.5), and cheque (S.6). Each has specific formal requirements for validity.