Indian Contract Act - Study Mode
[#831] Which one of the following is not essential for a consideration?
Correct Answer
(D) Adequate
[#832] In which case it was held that when charge or pledge is enforced by way of sale of the pledged or hypothecated goods the sale is for consideration and falls within the ambit of section 2(xxi) of Limitation Act
Correct Answer
(A) Federal Bank Ltd. v. State of Kerala(2007)
[#833] A debtor owes several distinct debts to the same creditor and he makes a payment which is insufficient to satisfy all the debts. In such a case, a question arises as to which particular debt the payment is to be appropriated. Which sections of the Contract Act provides an answer to this question?
Correct Answer
(D) Section 59 to 61
[#834] Under Section 28 of the Indian Contract Act, 1872 an agreement not to pursue any legal remedy to enforce the right is:
Correct Answer
(C) Void
[#835] What is the meaning of novation:
Correct Answer
(D) Substituting an old contract for a new one