Unilateral Contract is the one in which only 1 party has to fulfill his obligations during the formation of the contract and the other party has already fulfilled his obligations at the time or before the contract exists. Bilateral contract is similar to executor contract in which both parties have yet to perform their obligations. The essentials of a valid contract are: Offers and acceptance, legal relationship, lawful consideration, capacity of parties, free consent, lawful object, writing and registration, certainty, possibility of performance, not expressed declared void.
Here we present Business Law Practice Question Paper Set 10:
Q.1) Explain District Forum provisions as per consumer protection act, 1986.
Q.2) Explain the concept “lifting the corporate veil” as per companies act, 1956.
Q.3) Define consideration and explain provisions relating to it as per Indian Contract Act.
Q.4) Define N.I. and state essentials of a valid negotiable instrument, also explain maturity and grace period of a N.I.
Q.5) State provisions relating to bouncing of a cheque, as per N.I. Act.
Q.6) Define partnership, state essentials of a valid partnership and explain types of partnership.
Q.7) Define the following:
1) Goods
2) Condition
3) Warranty
4) Document of title to the goods
5) Insolvent person
6) Contingent goods
7) Perishable goods, as per sale of Goods act.
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