CLAT 2014 Question Paper with answer key for online practice

Each question comprises two statements (numbered as I and II). You have to take the statements as true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follow from the given statements, disregarding commonly known facts.
(I) All contracts are agreements.
(II) All agreements are accepted offers.
Which of the following derivations is correct?