The correct answer is: A. It should be in writing only.
A contract is an agreement between two or more parties that creates an obligation to do or not do something. The Indian Contract Act, 1872, is the main law governing contracts in India. The Act does not require a contract to be in writing, but it does require certain contracts to be registered. For example, a contract for the sale of land must be registered.
The other options are essential features of a contract under the Indian Contract Act. A contract must be made with the free consent of parties who are competent to contract. The consideration must be lawful and the object of the contract must also be lawful. A contract that is declared void expressly is not a valid contract.
Here is a brief explanation of each option:
- Option A: A contract does not need to be in writing. However, certain contracts must be registered, such as a contract for the sale of land.
- Option B: The consent of the parties to a contract must be free and voluntary. It cannot be obtained through duress, undue influence, or misrepresentation.
- Option C: The consideration for a contract must be something of value that is given by one party to the other. It can be money, goods, services, or a promise to do something.
- Option D: The object of a contract must be lawful. This means that the contract cannot be for an illegal purpose.
I hope this helps! Let me know if you have any other questions.