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?
More Commerical Law Questions
- XYZ Ltd., a listed entity, has only 2 independent directors on its 12-member Board. Audit Committee is formed with 2 independent and 1 executive director. ...
- As per the Companies Act, 2013 a Company means_____________
- Company A agrees to sell 1,000 laptops to Company B, but the contract lacks the specification of model and delivery timeline. Later, B refuses to accept de...
- A listed company has an average net profit of Rs. 12 crore in the last 3 years. As per Section 135 of the Companies Act, 2013, which of the following state...
- An "Agreement to sell" becomes a "Sale" when:
- A Private Company may not issue securities
- 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 h...
- The Prospectus must be issued to the public within ______________ days after the date onwhich a copy thereof is delivered to the Registrar
- A buyer and seller entered into a CIF (Cost, Insurance, Freight) contract. The seller shipped the goods and handed over the bill of lading and insurance do...
- Minimum number of directors required in a public company is:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)