Indian Contract Act - Study Mode
[#306] Consider the following statements- (1) Performance of a legal duty is no consideration for a promise. (2) Forbearance to sue has always been regarded as valuable consideration. (3) It is not necessary that consideration should be adequate to the promise. Which of the above statementls is/are correct?
Correct Answer
(C) (1), (2) and (3)
[#307] X purchases a deep-freezer. As an 'offer', a free iron box was given as a gift along with the purchase. The iron box did not work properly and burnt X is expensive coat. Can X claim damages and ask for replacement of the iron box?
Correct Answer
(B) No, he can not ask anything as the iron box was given to him free. Hence, there is no consideration
[#308] A minor enters into agreement representing himself to be major Consider the following statements: 1. Minor commits fraud if the other party does not have personal knowledge of his age 2. Such agreement is enforceable 3. The doctrine of estoppel does not apply in minor's case 4. Other party is entitled to get back the benefit passed to minor, if innocent about his age Which of the statements given above are correct?
Correct Answer
(A) 1, 3 and 4
[#309] The damages under section 73 of Indian Contract Act are
Correct Answer
(B) Compensatory
[#310] A and B orally settle a dispute with the help of C. This oral settlement is:
Correct Answer
(B) An agreement under the Contract Act