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Business Law 2nd Edition Tejpal Sheth - Solutions
If a new contract is substituted in the place of an existing contract, it is called(i) alteration. (iii) novation.(ii) rescission. (iv) waiver.
The original contract need not to be performed, if there is(i) rescission of contract. (iii) alteration of contract.(ii) novation of contract. (iv) all of the above.
In which of the ways can a contract be discharged by agreement between the parties?(i) Novation. (iii) Alteration.(ii) Rescission. (iv) All of the above.
In which of the ways can a contract be discharged by the operation of law?(i) Unauthorized material alteration contract.(ii) Vesting of rights and liabilities in the same person.(iii) Neither (i) nor (ii).(iv) Both (i) and (ii).
In which of the ways can a contract be discharged by the operation of law?(i) Death of the promisor. (iii) Merger of rights.(ii) Insolvency of the promisor. (iv) All of the above.
A contract stands discharged(i) by performance of the contract. (iii) by agreement.(ii) by breach of the contract. (iv) all of the above.
An obligation under a contract stands discharged by(i) dispensing with the performance.(ii) impossibility of performance.(iii) death of the party and contract is personal in nature.(iv) all of the above.
Where performance has become more difficult than estimated at the time of entering into a contract, the contract(i) is not discharged. (iii) becomes void.(ii) is discharged. (iv) becomes voidable.
Which of the following is incorrect?(i) Contracts are discharged by lapse of time.(ii) The discharge of a party and the discharge of a contract are one and the same thing.(iii) The cancellation of contract discharges the contract.(iv) All of the above.
When the contract is made for several purposes, a failure of one of them(i) terminates the entire contract. (iii) makes the contract unlawful.(ii) does not terminate the entire contract. (iv) renders the object illegal.
The third party’s failure to perform a promise, on whose performance your performance of promise depends upon. In this case, the contract(i) is not discharged. (iii) becomes void.(ii) is discharged. (iv) becomes voidable.
The doctrine of impossibility of performance, rendering a contract void, is based on(i) a commercial impossibility. (iii) just and reasonable ground.(ii) a supervening impossibility. (iv) an unjust enrichment.
The breach of a contract may be(i) an actual breach. (iii) either (i) or (ii).(ii) an anticipatory breach. (iv) neither (i) nor (ii).
A agrees with B to bring back the life of the dead patient for ` 50,000. The agreement is(i) void. (iii) unenforceable.(ii) voidable. (iv) illegal.
A contract is discharged by the breach when a party to a contract(i) refuses to perform his promise.(ii) fails to perform his promise.(iii) disables himself from performing his part of the promise.(iv) all of the above.
Write a short note on the anticipatory breach of contract. (Ref. Para-7.11)
What are the consequences for the actual breach of contract? (Ref. Para-7.11)
What remedy is available to party on the breach of contract? (Ref. Para-7.11)
Write the difference between the actual breach and the anticipatory breach of contract. (Ref. Para-7.11)
Write a short note on the breach of contract. (Ref. Para-7.11)
Explain the meaning of the breach of contract. (Ref. Para-7.11)
When may a contract be discharged by the operation of law? (Ref. Para-7.10)
Does the frustration discharge the contract in all cases? If not, then specify the circumstances in which the contract is not discharged on the ground of frustration. (Ref. Para-7.7,7.8)
Discuss the impossibility of performance as the mode of discharge of a contract, stating the difference between the initial and supervening impossibility. (Ref. Para-7.6)
The law does not compel the impossible. Comment. (Ref. Para-7.6)
Distinguish between a rescission and an alteration. (Ref. Para-7.5)
Distinguish between a novation and an alteration. (Ref. Para-7.4)
Remission may be part or full. Is it correct statement? (Ref. Para-7.3)
Explain the meaning of the term ‘remission’. Write a short note on the novation of a contract. (Ref. Para-7.3)
What do you understand by ‘accord’ and ‘satisfaction’? Write a short note on the novation of a contract. (Ref. Para-7.3)
Write a short note on the alteration of the contract. (Ref. Para-7.3)
Write a short note on the novation of the contract. (Ref. Para-7.3)
Novation means entering into a new contract in place of the old contract. Explain. (Ref. Para-7.3)
Explain with examples, the principle of novation, alteration and rescission, where the contract need not to be performed. (Ref. Para-7.3)
How is the contract discharged on the performance of a promise? (Ref. Para-7.2)
State the various methods of termination of a contract. (Ref. Para-7.1)
A contracted to supply certain quantity of timber to B. Before the supply of any timber, a war broke out, resulting in disruption of supply of the timber.(i) A was discharged from performing the contract.(ii) A was not discharged from performing the contract.(iii) A has to pay compensation.(iv) A
A hired a music hall to B for performing concerts. The hall accidentally burnt before beginning of the concert. The contract become(i) void. (iii) illegal.(ii) voidable. (iv) any of the above.
A contracts to act at a theatre for 6 months in a consideration of a sum paid in advance by B. On several occasions A is too ill to act.(i) The contract becomes void. (iii) The contract becomes illegal.(ii) The contract becomes voidable. (iv) Any one of the above.
A promises to deliver goods at B’s godown. A delivers the goods during business hours to B’s house.(i) A has not performed his promise. (iii) B has not performed his promise.(ii) A has performed his promise. (iv) both (ii) and (iii).
Where the performance of a promise by one party depends upon the prior performance of promise by the other, the promise is known as(i) mutual and concurrent. (iii) mutual and independent.(ii) conditional and dependent. (iv) concurrent and dependent.
The promises which are to be performed simultaneously are known as(i) mutual and concurrent. (iii) mutual and independent.(ii) conditional and dependent. (iv) none of these.
The promises forming consideration for each other are called(i) reciprocal promises. (iii) independent promises.(ii) mutual promises. (iv) none of the above.
If a contract provides for the order of performance of reciprocal promises, the promises shall be performed(i) in the order mentioned. (iii) in any appropriate order.(ii) in any reasonable order. (iv) in any order whatsoever.
In a contract where time is not specified for performance, the promisor can perform the contract(i) at any time he wishes. (iii) within a reasonable time.(ii) within the shortest time. (iv) within the latest time.
In case of a joint promise, release of one of joint promisors by the promisee(i) discharges all promisors.(ii) discharges the other joint promisors.(iii) does not discharge the other joint promisors.(iv) discharge the promisee.
If any one of joint promisors makes default in such contribution, remaining joint promisors must share the loss arising from such default(i) equally. (iii) in the ratio of their properties.(ii) not equally. (iv) either (i) or (ii).
A, B, and C jointly promise to pay ` 1000 to D. D files a suit to recover the amount against A(i) D must sue all of them.(ii) D can recover ` 100 only from A.(iii) D can recover the amount from any one of them.(iv) D cannot sue any of them.
The liability of joint promisors is(i) joint. (iii) joint or several.(ii) several. (iv) joint and several.
When two or more persons have made a joint promise, then, unless a contrary intention appears from the contract, the promise shall be performed, during their joint lives(i) by any one of them. (iii) by all of the joint promisors.(ii) by a majority of the joint promisors. (iv) all of the above.
It is not always required of the parties to perform the contract ….(i) in time. (iii) personally.(ii) before time. (iv) both (ii) and (iii).
‘A’ promises to act in a movie for ‘B’. In this case(i) legal representative of A can perform the promise.(ii) A’s agent can perform the promise.(iii) A’s employer can perform the promise.(iv) A must perform this promise personally.
Who cannot demand performance of promise?(i) Promisee. (iii) Legal representative on death of promisee.(ii) Any of the joint promisees. (iv) Stranger to the contract.
A promises to deliver goods to B for ` 20,000. A dies before before performance of promise.(i) The contract becomes void.(ii) The contract becomes impossible.(iii) The contract can be enforced against A’s representatives and B is bound to pay ` 20,000 to A’s representatives.(iv) The contract is
The parties to a contract need not perform when the performance is(i) dispensed with. (iii) either (i) or (ii).(ii) excused under the provisions of any law. (iv) neither (i) nor (ii).
Which are the essentials of a valid tender?(i) Tender must be unconditional. (iii) Tender must be to a proper person.(ii) Tender must be made at a proper place. (iv) All of the above.
When the parties under the contract fulfill their respective promises, the contract is said to be discharged(i) by breach of contract. (iii) by agreement and novation.(ii) by impossibility of performance. (iv) by performance of contract.
Performance of a contract may be in the form of(i) actual. (iii) either (i) or (ii).(ii) attempted. (iv) both (i) and (ii).
Write a short note on the assignment and succession of the contract. (Ref. para-6.13)
Explain the rules relating to the appropriation of a payment with suitable examples. (Ref. Para-6.12)
When is time the essence of a contract? (Ref. para-6.11)
What will be the effect, if one party to the contract prevents the other party from performing a promise? (Ref. Para-6.10)
State the provisions relating to the performance of reciprocal promises. (Ref. Para-6.10)
Reciprocal promises are always performed simultaneously. Comment. (Ref. para-6.9)
In what different ways can reciprocal promises be classified? (Ref. Para-6.9)
Explain rules with regard to demand of promise by the joint promisors. (Ref. para-6.8)
Who can demand the performance of promise? (Ref. Para-6.8)
What are the rules relating to time and place of the performance of a contract? (Ref. Para-6.7)
The joint promisors are liable to share losses equally. Comment. (Ref. para-6.6)
Discuss the law relating to the rights and liabilities of joint promisors in the contract. (Ref. Para-6.6)
Who can perform the promise under a contract? (Ref. Para-6.5)
When should the contract be compulsorily performed by the promisor himself? (Ref. Para-6.5)
When is the legal representative of a promisor not required to perform the promise under a contract? (Ref. Para-6.5)
The contract involving personal skill can be performed by the promisor himself. Comment. (Ref. Para-6.5)
In which circumstances the contract is not required to be performed? (Ref. Para-6.4)
Is there any difference between the tender of services and the tender of money? (Ref. para-6.3)
Write a short note on the types of tender. (Ref. para-6.3)
The tender can be performed at any place. Comment. (Ref. para-6.2)
The tender must be conditional. Comment. (Ref. para-6.2)
What are the effects of refusal by the promisee, to accept valid tender of goods and services? (Ref. Para-6.2)
What are the requisites of the valid tender of performance? (Ref. Para-6.1)
Distinguish between the actual performance of the contract, and the attempted performance of the contract. (Ref. Beginning of the chapter)
Write a short note on the performance of the contract. (Ref. Beginning of the chapter)
What do you understand by the performance of a contract? (Ref. Beginning of the chapter)
B agrees to sell to A ‘1 kg of gram at a price to be fixed by C’.(i) the agreement is valid.(ii) the agreement is void.(iii) the agreement is voidable.(iv) the agreement is illegal.
A agrees to pay ` 5000 to B, if B’s car is burnt. It is(i) void. (iii) wagering agreement.(ii) voidable contract. (iv) contingent contract.
A promises to pay ` 500 to B if it rains on the first Monday of the next. It is a(i) wagering agreement. (iii) void contract.(ii) contingent contract. (iv) voidable contract.
A partner of a firm, so long as he is partner, can be restrained from carrying on(i) any business. (iii) both of the above.(ii) similar business. (iv) none of the above.
A agrees to pay ` 30,000 to B, a rival shopkeeper, if he closes his business in A’s locality only. This agreement is(i) valid. (iii) void.(ii) voidable. (iv) none of the above.
An agreement is said to be opposed to public policy when it(i) against the welfare of the society.(ii) prejudical to the public interest or public policy.(iii) either (i) and (ii).(iv) is against provision of any law.
The performance of contingent contract depends upon.(i) Main event.(ii) Collateral event.(iii) Both (i) and (ii).(iv) Either (i) or (ii).
A agrees to pay B ` 50,000 if a titanic ship does not return. The ship is sunk. The contract can be enforced(i) when the ship sinks. (iii) when the ship returns.(ii) before the ship sinks. (iv) when ship does not start its journey.
If A promises to pay B ` 10,000 if he so chooses, it is a contingent contract.(i) True (iii) False(ii) Partly true (iv) None of the above
Which of the following is a contingent contract?(i) Contract of insurance. (iii) Marriage contract.(ii) Contract for doing impossible acts. (iv) Wagering agreements.
A contract based on the happening or non-happening of a future event is called(i) a wagering contract.(ii) uncertain agreement.(iii) a contingent contract.(iv) voidable contract.
A contigent contract is(i) illegal. (iii) wagering in nature.(ii) not contract at all. (iv) none of the above.
An agreement to remain unmarried is(i) valid. (iii) voidable.(ii) void. (iv) enforceable.
An agreement intended to defraud income tax authorities is(i) contrary to public policy. (iii) both (i) and (ii).(ii) void. (iv) neither (i) nor (ii).
Marriage brokerage contracts are(i) enforceable. (iii) void.(ii) valid. (iv) voidable.
Which of these are opposed to public policy?(i) Restraint of marriage. (iii) Interference with course of justice.(ii) Restraint of personal freedom. (iv) All of the above.
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