This short and simple business law case studies on contract Act is given with solutions.
Try out our Premium Member services: Free for one month and pay only if you like it. Communication, acceptance and revocation of proposals. The communication of a revocation is complete,— as against the person who makes it, when it is put into a course of transmission to the person to whom it is made, so as to be out of the power of the person who makes it; as against the person to whom it is made, when it comes to his knowledge.
Illustrations a A proposes, by letter, to sell a house to B at a certain price. The communication of the proposal is complete when B receives the letter. The revocation is complete as against A when the telegram is despatched. It is complete as against B when B receives it. B revokes his acceptance by telegram.
Revocation of Proposals and acceptance. Illustrations A proposes, by a letter sent by post, to sell his house to B. A proposes, by a letter sent by post, to sell his house to B. B accepts the proposal by a letter sent by post. A may revoke his proposal at any time before or at the moment when B posts his letter of acceptance, but not afterwards.
B may revoke his acceptance at any time before or at the moment when the letter communicating it reaches A, but not afterwards. Acceptance must be absolute. If the proposal prescribes a manner in which it is to be accepted, and the acceptance is not made in such manner, the proposer may, within a reasonable time after the acceptance is communicated to him, insist that his proposal shall be accepted in the prescribed manner, and not otherwise; but, if he fails to do so, he accepts the acceptance.
Acceptance by performing conditions, or receiving consideration. Promises, express and implied. In so far as such proposal or acceptance is made otherwise than in words, the promise is said to be implied. What agreements are contracts.
Who are competent to contract. What is a sound mind for the purposes of contracting. A person who is usually of sound mind, but occasionally of unsound mind, may not make a contract when he is of unsound mind.
Illustrations a A patient in a lunatic asylum, who is, at intervals, of sound mind, may contract during those intervals.
Consent is said to be so caused when it would not have been given but for the existence of such coercion, undue influence, fraud, misrepresentation or mistake. Illustrations A, on board an English ship on the high seas, causes B to enter into an agreement by an act amounting to criminal intimidation under the Indian Penal Code 45 of A afterwards sues B for breach of contract at Calcutta.
A has employed coercion, although his act is not an offence by the law of England, and although section of the Indian Penal Code 45 of was not in force at the time when or place where the act was done. Nothing in the sub-section shall affect the provisions of section of the Indian Evidence Act, 1 of A employs undue influence.
It lies on B to prove that the contract was not induced by undue influence. The banker declines to make the loan except at an unusually high rate of interest. A accepts the loan on these terms. This is a transaction in the ordinary course of business, and the contract is not induced by undue influence.
Illustrations a A sells, by auction, to B, a horse which A knows to be unsound.
This is not fraud in A. A is not bound to inform B. Voidability of agreements without free consent. Exception —If such consent was caused by misrepresentation or by silence, fraudulent within the meaning of section 17, the contract, nevertheless, is not voidable, if the party whose consent was so caused had the means of discovering the truth with ordinary diligence.
The contract is voidable at the option of B. B examines the accounts of the factory, which show that only four hundred maunds of indigo have been made.Exemption 4. Exemption 4 of the FOIA protects "trade secrets and commercial or financial information obtained from a person [that is] privileged or confidential.".
CASE STUDIES. Balfour vs Balfour. Where parties to contract do not intend to create binding agreement, the agreement cannot be enforced. The case of balfour vs balfour is a well known illustration of a domestic agreement.
This paper lays down the facts and circumstances of a fictitious case – dealing with the law of contracts, whether a contract entered into with a minor Skip to content. Contract with a minor – Mr.
Sharma v. Mr. Nitin. It also examines the definition and scope of “necessary” under S.