Discuss the effects of ratification in voidable contracts

Q: Determine whether the statement is legally correct (true) or not (false).  Even where the contract…

A: The business can be run by the individual in the form of sole proprietorship, or it can be run as a…

Q: Why would the existence of conditions subsequent and precedent affect the discharge of a contract?

A: A contract is an agreement between more than one person to perform the duties mentioned in the…

Q: Who may institute action for annulment of voidable contracts? Briefly discuss.

A: Contract Act- The Indian Contract Act of 1872 lays out the groundwork for forming a legally binding…

Q: How contract is discharged by subsequent impossibility?

A: Discharge of agreement or contract implies the end of the authoritative connection between the…

Q: Formalities in a contract can be self-imposed by the parties to a contract. Select one: True False

A: Contract is referred as an enforceable agreement, which helps in defining, creating, and also…

Q: Give examples of obligations or contracts which are contrary to law .

A: The contract is an agreement forming a relationship between two parties in such a way that if any of…

Q: Which of the following is a transfer of a party's rights under a contract to someone else O Novation…

A: The rights and authority of a contract can be transferred from one party to another in contract law.…

Q: Identify the best and worst types of contract on the basis of payment

A: Contract is referred to as the legal bind of an agreement, which used to define as well as govern…

Q: Is there any exception to the rule that the particular motives of the parties in entering into a…

A: A motive is a purely personal or private reason which a party has in entering into a contract. The…

Q: What is an onerous contract? Give two examples of an onerous contract.

A: When the cost of carrying out unavoidable obligations exceeds the benefit expected to be received…

Q: Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation,…

A: Contract of surety relates to the contract of guarantee a contract is to perform the promise or…

Q: Which of the following is not a condition in the determination of when a valid contract exists: O…

A: In accordance with IFRS 15, a contract with a customer is said to exists only if the following…

Q: Give examples of obligations or contracts which are contrary to good custom.

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: what is the liberty principle as it relates to contracts?

A: Introduction: The liberty principle is the idea that people should be free to contract with each…

Q: Compare and contrast the istijrar contract with its closest conventional contract. What are the main…

A: Istijrar refers to the purchase of commodities in varying quantities on a regular basis. In Islamic…

Q: What exceptions are there to contracts that normally require a writing to be enforceable?

A: It is being written under the law that all agreement which are in writing could only be enforceable…

Q: Explain the Nonrecourse clause?

A: A sum of money that an individual or company owes is called liability. It is an obligation between…

Q: A written contract takes priority over a prior oral agreement Ture or false

A: A contract can be in writing, be oral, be inferred by conduct or formed using a combination of all…

Q: An antenuptial contract must be notarially executed to be valid between the contracting parties.…

A: A contract entered into by a couple before their marriage, and restricting to retain their assets…

Q: How might the definition of “probable” affect determining whether a contract exists under IFRS as…

A: GAAP: GAAP stands for “Generally Accepted Accounting Principles”. It provides the accounting rules…

Q: What is a multiple-element contract? Give an example of such a contract. How does NZ IFRS 15 apply…

A: Contract Management  A contract is an agreement made between two parties that outlines the actions…

Q: What is the meaning of “counter-offer” in relation to the law of contract?

A: Counter Offer is a type of offer given in response of original offer.

Q: Discuss the contract according to its enforceability?

A: In basic terms, a contract implies when two gatherings put into composing an understanding that…

Q: Explain the difference between commutative contract and non-commutative contract. Why Insurance is…

A: COMMUTATIVE CONTRACT In Arabic aqd mu'awadha, it is a type of compensatory contract whereby one…

Q: Which of the following is also called a "liability waiver"? confidentiality clause noncompete…

A: An obligation or a liability is something an individual or organization owes, it usually includes…

Q: In a "mixed contract," one involving both the dale of goods and services, does the UCC apply or does…

A: Contract is referred as the legal enforceable agreement, which defines, creates, and also governs…

Q: When will a person be bound by a contract entered into by another?

A: Introduction: A contract is a written or verbal agreement between 2 or more entities that generates…