a) Ravi, an agent of Akash refused to hand over books of accounts of a business to new agent Manish unless principal Akash released him from all liabilities amounting Rs. 15 Lakhs, Ravi had to give release deed as demanded. Is the release deed valid? Justify your decision with the relevant provisions of the Indian Contract Act, 1872.

b) Lipika offers to sell her car to Rahul for Rs. 10 lakhs on a credit of 1 month. Rahul accepts the Lipika offer. Lipika sold the car to Rahul and delivered the same to him. Identify and explain the type of contract that Lipika and Rahul entered in on the basis of performance and validity. Justify your explanation with the relevant provisions of the Indian Contract Act, 1872.