Contract Law

Indian Contract Act, 1872: Bailment and Pledge Question 1.State with reasons whether the foLlowing statement is correct or incorrect: Placing of ornaments in a bank locker is a contract of bailment. (May 1998, 2 marks)ORState whether the following statement is correct or incorrect: Depositing of ornaments In a bank locker is a bailment. (May 2015, […]

Agency – MCQs with Answers 1. What is the primary role of an agent?a) To act on behalf of the principalb) To make independent decisionsc) To act for themselvesd) To supervise the principalAnswer: a) To act on behalf of the principal 2. Which of the following is NOT a type of agency?a) Agency by agreementb) […]

Conditions & Warranties Question 1.Explain the condition as to merchantability ant! condition as to wholesomeness.Answer:Implied condition as to merchantability. – [Sec. 16(2)]Where goods are brought by description from a seller who deals in goods of that description, there is an implied condition that goods shall be of merchantable quality. Merchantable means that the goods are […]