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Topics of Law Test 56

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Topics of Law Test 56
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  • Question 1
    1 / -0
    A contract caused by a mistake as to a law not in force in India is _______________.
    Solution
    Section 21 of Indian Contract Act, 1872 defines ‘Effect of mistake as to law’ as follows

    “A contract is not voidable because it was caused by a mistake as to any law in force in India; but a mistake as to a law not in force in India has the same effect as a mistake of fact."
  • Question 2
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    The Indian Contract Act was enacted in year_____.
    Solution
    The Indian Contract Act was enacted in the year 1872.
  • Question 3
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    The Indian contract Act, $$1872$$ was passed by ______________.
    Solution
    The Indian Contract Law, 1872 was passed by the British Parliament. It is based on the principles of English Common Law.
  • Question 4
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    "The doctrine of public policy is a branch of Common Law and like any other branch of Common Law it is governed by the precedents" was ruled in?
    Solution
    "The doctrine of public policy is a branch of Common Law and like any other branch of Common Law it is governed by the precedents" was ruled in Gherulal Parakh v. Mahadeodas Maiya and Others. Plaintiff and defendant entered into Partnership agreement with object of entering into wagering transactions with obligation to bear equal loss or profit arising out of such partnership. When plaintiff asked for reimbursement of half of money paid by him to discharge losses of partnership, defendant alleged that the agreement made between them was illegal and unenforceable on account of Section 23.
  • Question 5
    1 / -0
    Which of the following is a valid promissory note _________.
  • Question 6
    1 / -0
    Which of the following negotiable instrument is drawn, accepted or endorsed without consideration?
  • Question 7
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    A contract is always based upon_____.
    Solution
    There are six basic requirements in a legally enforceable contract:

    1. An offer
    2. An acceptance
    3. Competent parties who have the legal capacity to contract
    4. Lawful subject matter
    5. Mutuality of obligation
    6. Consideration
    Offer
    An offer is an expression of willingness by one party to contract on certain terms with another party with the understanding that the contract will become binding when accepted by the person to whom it is offered. An offer may be made in different ways, such as in a letter, an email, or even your behavior, so long as it conveys the basis on which the offering party is willing to contract. An offer should consist of: (1) a statement of present intent by the offering party to enter into a contract; (2) a specific proposal that is certain in its terms; and (3) a communication that identifies the person to whom the offer is made. If any of these elements are not present, an offer has not been made.

    Acceptance
    Acceptance is a final and unqualified expression of consent to the terms of an offer. An offer may only be accepted by the person to whom it is made unless an agent is authorized to accept on behalf of that person. In addition, an acceptance must be made in the manner requested or authorized by the offering party. If the party to whom the offer is made changes the terms of the offer, he or she has rejected the initial offer and has made a counteroffer that may or may not be accepted by the other party.

    Competent Parties
    Parties to a contract must be competent to enter into a contract. In general, most individuals are deemed to have the capacity to contract unless the person is a minor, incompetent or insane, or drunk or drugged when entering into the contract.

    Lawful Subject Matter
    In order for a contract to be enforceable, its subject matter cannot be prohibited by law or violate public policy. For example, a contract for the sale of illegal drugs is not enforceable, and a person cannot promise to transfer clear title to real estate if the property is encumbered by a lien or mortgage.

    Mutuality of Obligation
    In order for there to be an enforceable contract, the parties must have a common intention or a meeting of minds on the terms of the contract. The parties must agree to the same thing, in the same sense, and at the same time. If one party to a contract has been fraudulently misled about the terms of the contract by the other party, the contract is voidable. A review of the communications between the parties and how they performed the terms of the contract are used by the courts to determine whether mutuality of obligation or a meeting of the minds exists.

    Consideration
    Consideration is a very important element of an enforceable contract. Consideration may be money or a promise. In addition, consideration may consist of a restraint from suing on a claim that may be part of a legal dispute. Whatever consideration is provided under a contract, it must be clearly agreed upon by both parties to the contract or it must be clearly implied by the terms of the contract.
  • Question 8
    1 / -0
    The law relating to contract is governed by the_______.
    Solution
    The law relating to contract is governed by the Indian Contract Law, 1872.
  • Question 9
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    Domestic arrangements between husband and wife are not contracts was decided in which case?
    Solution
    Any obligation, which arises independently of an agreement, cannot be the basis of a valid  contract. A domestic arrangement with no intention to create legally binding relations will not constitute a contract, such as a promise by a father to pay pocket money to his son. In the words of Lord Atkin, “The most usual form of agreements, which do not constitute a contract, are the agreements made between husband and wife”. They are not contracts because the parties do not intend  that they should be attended by legal consequences.

    Case Study: Balfour v. Balfour (1919).

    Mr. Balfour left his wife in England on medical grounds and left for Ceylon, the place.of his appointment. He had promised to pay £30 P.M. to his wife until she returns. Subsequently, he  stopped sending money to her and decided to live apart. The wife sued the husband for the recovery of the amount promised for, on the ground that her consent to the agreement was enough to constitute  valid consideration for the contract. The court did not agree with the views of the wife and dismissed her claim. It was held that it was only a domestic arrangement and not a legal contract  because domestic arrangements are outside the realm of contract altogether.However, parties standing in a domestic or social relationship may enter into an enforceable contract if they intend their agreements to have legal consequences.
  • Question 10
    1 / -0
    When does a relation of an agency becomes contractual?
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