Very Short Question Answer 1. When a consent is treated as free? A consent is treated as free in the following situations: If the consent has been given knowingly and freely. If the consent is not caused by coercion, undue-influence, misrepresentation, fraud or mistake. 2. When an agreement is enforceable by law? When an agreement […]
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Chapter 3: Contract of Agency
Very Short Question Answer 1. State any two essentials of agency. A contract between two parties amounts a contract of agency if it fulfills the following at essentials: Universal declaration of the principal to be bound by the act of his agent. Intention of the agent to act on behalf of the principal 2. Who […]
Chapter 1: Introduction to Law and Business Law
Very Short Question Answer 1. State any two nature of law. Law consists of a rule. Law is backed by sanction/ punishment. 2. Give any two differences between substantive law and procedural law. The differences between substantive law and procedural law can be stated as follows: Substantive Law Procedural Law It creates and defines the […]
Chapter 4: Contract of Sales of Goods
Very Short Question Answer 1. What is meant by goods? The term goods refers all the movable properties other than the land and attached to the land. Therefore, growing crops is not goods but when harvested it amounts a goods. A living tree is not goods but it is severed from the land amounts to […]