Law of Contract Important Question and Answer

• Define and explain 1. consideration 2. reciprocal promises 3. void-able contract 4. void agreement.
• What is Fraud?
• What are rights of party caused by fraud.
• Define and explain Mistake of Law and Fact
• Mistake of Law and Fact effects on contract.
• Rights of party suffering from a breach in the following situations:
  • When no sum is mentioned in the contract as payable for breach.
  • When sum is mentioned.
• What are rights of a party which has itself rescinded a contract.
• What is liability of a pretending agent.
• State the facts and the law laid down in the case of Hadly and others
• Rights and duties of a bialee.
• How can an agency be created.
• Authority of agent to act on behalf of the principal.
• Principles on which damages for breach of contract are to be awarded by a Court.
• When and how can proposal and acceptance can be revoked.
• What Coercion, Undue Influence, and Fraud.
• Consequences which ensue from breach of a valid contract.
• How and under what circumstances is agency terminated.
• What are contingent contracts? When can they be enforced.
• Case Mohri – v – Dharmodas Ghosh.
• Different situations in which agreements, though made by free consent of parties, competent to contract are yet void.
• What is pledge, rights and duties of the Pawner and Pawnee.
• Appropriation of payment towards debts.
• What is continuing Guarantee? How the liability discharges.
• When is the suggestion of fact not fraud, but a misrepresentation.
• What is a contract of indemnity and how differs from contract of Guarantee.
• When is communication of 1. A Proposal, 2. An Acceptance, and 3. A Revocation said to be complete.
• Define proposal, promise, promisor, promisee, and consideration.
• Various kinds of bailment.
• Does the Pawnee or agent have any lien over the goods pledged or property in his custody.
• Ratification of principal act of his agent.
• What is rule of compensation on breach of contract.
• How does liquidated damages differ from penalty.
• Circumstances which render the original contract need not to be performed.
• Difference Sales and an agreement to sell and bailment.
• How contract of sale of goods be made whether 1. In writing, 2. Oral, and 3. Implied.
• Can a contract be made without consideration.
• What are contingent contracts.
• Who is an unpaid seller.
• Under what circumstances when there is no contract.
• Rights of finder lost goods.
• Conditions for immediate return of goods loaned gratuitously for use of a fixed term. Passing of property.
• Remedies under Sales of Goods Act.
• What are conditions and warranty.
• Agreements by way of wager.
• Duties of buyer and seller of goods.
• Notes: Consideration, Free Consent, Wagering Contracts.