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
- What is the minimum and maximum number of directors required in a public company as per the Companies Act, 2013?
- A contract with a minor is:
- 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. ...
- "SARFAESI Act, 2002" is primarily used by banks for:
- The registered office clause of memorandum of association contains
- Mr. Sharma, a sole proprietor, entered into an oral agreement with a vendor for purchase of office furniture worth ₹2 lakhs, with delivery to be made after...
- A contract contains an arbitration clause. A dispute arises but one party sues in civil court. What should the court do?
- 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...
- The maximum number of partners allowed in a partnership firm carrying on banking business is:
- A Private Company may not issue securities
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)