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Question

'A', by letter, offers to sell his house to 'B'for Rs.200,000. Without knowing of 'A's offer, 'B', by a letter, offers to buy the same house from 'A' for Rs.200,000.

A
no binding contract comes into existence as consideration in this contract is insufficient
B
the Indian Contract Act is silent on such issues
C
no binding contract comes into existence as 'B's letter is merely a cross-offer
D
a binding contract comes into existence as 'B's letter is equivalent to acceptance of 'A's offer
Solution
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Correct option is A. no binding contract comes into existence as 'B's letter is merely a cross-offer

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