May an obligor be liable under an obligation subject to a suspensive condition although the condition has not yet been fulfilled? Explain.

Q: Determine when a liability can be classified as a noncurrent obligation.

A: Liabilities are obligations arising from past transactions and payable in assets or services in…

Q: What is the main purpose of modes of extinguishment

A: Introduction Extinguishment of obligation; A legal right, interest, or contract is extinguished…

Q: What is the effect of the fulfillment of the condition in a conditional obligation? resolutory…

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

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: A. It is probable that an outflow of economic benefits will be required to settle an obligation B.…

A: Option D

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: When an obligation is subject to an obligation, the moment the condition is fulfilled, the…

A: The following statement is True... When an obligation is subject to an obligation, the moment the…

Q: the stakeholders position is not protected by a contract -unlike the provider of debt- how is it in…

A: Shareholders are the individuals who get ownership of the organization when they invest in their…

Q: To be recorded as a liability, does the obligation have to be absolute?

A: Accounts payable, short-term loans, interest payments, bank overdrafts, and other similar short-term…

Q: in a conditional

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

Q: When the debtor binds himself to pay when his means permit him to do so, the obligation is:

A: When the debtor binds himself to pay when his means permit him to do so, the obligation is: Answer -…

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: 1. Which of the following is not an essential characteristic of a liability? * a. It is a present…

A: Liabilities may he defined as existing obligations which a business enterprise intends to meet in…

Q: Which of the following arises when the seller's right to consideration from a customer is…

A: A receivable is recognized by the entity when the entity's right to consideration is unconditional…

Q: Distinguish a contigent liability from a provision.

A: Liabilities: It refers to the debt that company owes to someone. It can be short term or long term.

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: As a rule, when an obligation is subject to a condition, it is constituted the moment the condition…

A: The given statement is True... As a rule, when an obligation is subject to a condition, it is…

Q: TRUE OR FALSE A liability can exist even if the party to whom the obligation is owed is not…

A: Liability:- A Liability is the amount owed from outsiders such as suppliers, creditors, investors,…

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: Explain the rights of a creditor against a surety and the rights of a surety, including those of a…

A: Surety bond used to involve the promise through the one party by assuming the responsibilities…

Q: Suppose the obligation of the debtor is to do something and he fails to do it or performs it in…

A: when there is business  between two or more person ,  there is  agreements . when one person does…

Q: Which of the following is not a ground for the extinguishment of an obligation? O Condonation or…

A: Following is the correct answer

Q: For a liability to be recognised within the financial statements, it needs to be reasonably apparent…

A: As per IFRS  a liability is that the future payment of which results…

Q: A constructive obligation may Be established by an implicit promise. Be established by an explicit…

A: A constructive obligation is considered as an obligation which arises out of the conduct and intent.…

Q: Which of the following is not a secondary mode of extinguishing obligations? * Changing the object…

A: Primary obligations is prescription Which means time limit to sue in the court of law.  prescription…

Q: The following obligations are immediately demandable, EXCEPT:     a pure obligation  obligation with…

A: There are obligation to be paid immediately but there are some conditional liabilities they occur…

Q: Suppose the analysis of a loss contingency indicates that an obligation is not probable. What…

A: Contingent Liability  Contingent liability is one form of liability that arises based on a…

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…