Indian Contract Act - Study Mode
[#531] A' has engaged the services of 'B', a financial planner, to make investments on his behalf. 'A' remits Rs. 10 lakhs to 'B' asking him to purchase stocks in company 'X'. 'B' finding investment in company 'Y to be possibly more lucrative invests the money in purchasing its shares. Company 'Y' goes into liquidation resulting in losses. Here:
Correct Answer
(D) B' has not committed any offence
[#532] Consider the following statements: 1. According to Justice Patterson, consideration may be some benefit to the plaintiff or some detriment to the defendant. 2. According to Section 2(d) of the Indian Contract Act, the definition of consideration requires that the act or abstinence should be done by promisee only. Which of the statements given above is/are correct?
Correct Answer
(A) 1 only
[#533] Which one of the following cases is not related to the damages for breach of contract?
Correct Answer
(B) State of Rajasthan v. Novelty Stores
[#534] A owes B, under a contract, a sum of money, the amount of which has not been ascertained. A, without ascertaining the amount, gives to B, and B, in satisfaction thereof accepts the sum of Rs. 2000. This is a discharge of
Correct Answer
(A) Whole debt
[#535] If a future event on which a contract is contingent is the way in which a person will act at an unspecified time, the event shall be considered to become impossible:
Correct Answer
(C) Both A and B above