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.
UPI stands for ________.
Short-term capital gains arising from the transfer of equity shares in a company or units of an equity-oriented fund or units of a business trust charg...
From the below mentioned, IND AS 16 can be applied to which of the following?
State which statement is correct:
Who among the following can issue Certificate of Deposits to raise short term resources?
A company uses Raw material A to manufacture finished goods, price of the raw material A is on the decline. The finished goods in which the raw materia...
The Article of a company may be altered by _____________
The difference between the spot price and the future price of a future is called as _____?
CERSAI was established to prevent fraudulent lending transactions against equitable mortgages. What does the ‘S’ in CERSAI stand for?
_______ are denominated in GBP (Great Britain Pound) and issued in London. Issue proceeds can be used to fund UK operation.
