1. Explain circumstances in which agreement may be declared voidable.

Ans: Section 2(i) of the Indian Contract Act, 1872 defines ‘voidable contract’ as “an
agreement which is enforceable by law at the option of one or more of the parties thereto,
but not at the option of the other or others, is a voidable contract.”
the contract in which one of the two parties has the option to enforce or rescind it, is known
as voidable contract.
On the other hand, a voidable contract takes its full and proper legal effect unless it is
disputed and set aside by the person entitled to do so.
2. Agreements enforceable by law.

Ans: In the aspect of law, a contract is a legally binding agreement between two or more parties
which contains elements of a valid legal agreement which is enforceable by law. An agreement is
said to be reached when an offer offered by the offeree has been accept by the acceptor as an
acceptance. These parties must have the capacity to be bound to the contract and the contract must
not be insignificant, vague, unfeasible, or against the law. The term ‘contract’ is defined in Section
2(h) of The Indian Contract Act as “an agreement enforceable by law“. An agreement must meet
certain criteria in order to be enforceable by law and qualify as ‘contract’.  These criteria is set out in
Section 10 of The Indian Contract Act. These are