Mercantile Laws 4

Law of contract-

An offer comes to an end by-

Communication of acceptance is not necessary –

Goods displayed in a shop window with a price label will amount to-

X agrees to sell his bicycle to Y for Rs. 1,000 or Rs. 2,000. Is a contract created between the two parties?

A telephonic acceptance is complete when the offer is-

The exceptions to the rule a stranger to a contract cannot sue are-

The inadequacy of consideration may be taken into account by the court-

P renders some service to D at D’s desire. After a month D promises to compensate P for the service rendered to him, it is a

A contract for the benefit of the minor is:

A buys a gift on her friend’s birthday thinking that it is worth Rs. 100 when in fact it is worth only Rs. 50. There has been no misrepresentation on the part of the seller. The contract is:

“Active concealment of fact” is associated with which one of the following?

While obtaining the consent of the promise, keeping silence by the promisor when he has a duty to speak about the material facts, amounts to consent obtained by:

If a party stands in a fiduciary relation to the other:

A and B agree to deal in smuggled goods and share the profits. A refuses to give B’s share of profit. In this case:

A paid Rs. 500 to a Government servant to get him a contract for the canteen. The Government servant could not get the contract. Can A recover Rs. 500 paid by him to the Government servant?

If the contingent depends on the mere will of the promisor it would be –

A contracted with B to repair B’s house. B refuses to point out to A the places in which his house requires repair. Is A excused from his responsibility?

Ordinary damages will be awarded in cases where

A person contracted to deliver a part of a specific crop of potatoes. The potatoes were damaged by blight though no fault of the party. The contract is

An ‘agreement to sell’ becomes ‘sale’ when–

Specific goods are such goods which are—-

Conditions are stipulations—

Where goods are known to be dangerous to the seller, and he also know that the buyer is ignorant about it, there is an implied warranty–

Property in the goods in the Sale of Goods Act means—-

The process of identifying the goods and setting apart as per the intended quality or description is called—

Delivery by attornment (acknowledgement) is–

Even if a substantial portion of the price is paid and only a small balance is pending, the Seller is still regarded as an Unpaid Seller–

In an Auction Sale, the property shall be sold to—

Whether a stipulation is a condition or a warranty depends on–

A partnership formed for the purpose of carrying on particular venture or undertaking is known as—

Partnership is a relationship, which arises from–

Which of the parties may be admitted to the benefits of partnership?

Registration of the firm under the Partnership Act is–

As per Indian Partnership Act, a partner in a partnership firm functions–

The authority of a partner to bind the firm for his acts as contained in section 19 of the Partnership Act is known as:

An unregistered partnership:

Retiring partner continues to remain liable to third parties for acts of the firm–

The liability of minor partners is limited to the extent of—

Dissolution of partnership between all the partners of a firm is called–