Question
ABC Pvt. Ltd. entered into a contract with Mr. Rao for
supplying machinery worth ₹25 lakhs. After execution of the contract, Mr. Rao became insolvent and his estate was taken over by the official assignee. ABC Pvt. Ltd. seeks to enforce the contract through court. Which of the following correctly describes the legal status of the contract?Solution
As per Section 56 of the Indian Contract Act, a contract becomes void due to frustration if a party becomes legally incapable of performance, such as insolvency.
Which of the following was the major export destination of non-basmati rice during 2021-22?
What term describes the agricultural practice of cultivating two or more crops on the same land simultaneously?
What is the proportion of the Central government’s ownership of capital in Regional Rural Banks?
What is the minimum locking period for venture capitalists as mandated by the Reserve Bank of India (RBI)?
Which folk dance performed for balancing a pot on the head?
Which international research institute, headquartered in Hyderabad and focusing on tropical dryland agrifood system innovation, has joined the One CGIAR...
______ is a percussion instrument.
To which state of India do the ‘Khuded’ folk songs belong?
In November 2022, the Union Cabinet, chaired by the Prime Minister Narendra Modi, approved the naming of Greenfield Airport at Hollongi, Itanagar as:
In order to advocate for widow remarriage in 1852, the weekly letter 'Satya Prakash' was published in Gujarati language by whom?
