Indian Contract Act - Study Mode

[#401] Which one of the following statements are under statements is correct in regard as to matter of fact, the agreement is
Correct Answer

(C) Time would not be regarded as the essence of the contract unless it is shown that the parties intended so

[#402] Which one of the following statements is incorrect?
Correct Answer

(C) A contract is not voidable because it was caused by a mistake as to any law not in force in India

[#403] If the time of performance of the contract is the essence of the contract and the promisor fails to perform the contract by the specified time-
Correct Answer

(C) The contract becomes voidable at the instance of the promisee

[#404] The theory on which quasi-contractual obligations are based is to prevent unjust enrichment. Who is considered to be the real founder of this theory?
Correct Answer

(A) Lord Mansfield

[#405] Liability of a guarantor is:
Correct Answer

(A) Joint and several with the principal debtor