Contract vs Trust: A Question of Intent

Maine socha tha I understand Contract, aur phir paper aaya, aur kuch khasa kya tha? A question that stumped me and many of my friends was from 2020 Judicial Services Mains. Question was: "Ashok gave his watch to Bhagat on a promise that he would give it back to him when Ashok gets a certain job. Bhagat sells the watch to Kumar. Discuss whether a contract is formed between Ashok and Bhagat."

Sabse pehle, ham kis type ka contract ka case yeh hai? Woh kya hai, contract to ho sakta hai. Lekin, Bhagat ne to Ashok ki promise ko poori tarah se accept nahi kiya. Unhone to watch to sold kiya, aur Ashok ki chahiye ke baare mein kisi ko bata nahi.