CA CPT Model Test Paper 7 with solutions for online practice

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Question : 68 of 200

Marks: +1, -0

A, by a letter, offers to sell his TV to B for Rs. 10,000. Without knowing A's offer, B by a letter, offers to buy the same TV from A for Rs. 10,000. In this case:

No binding contract comes into existence as B's letter is merely a cross offer
A binding contract comes into existence as B's letter is equivalent to the acceptance of A's offer
The contract would be enforceable only with the permission of the court
Both A and B will be guilty of breach of contract

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