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.
Maximum amount of rice is produced in which state in India?
Market in which bond, share and securities are bought and sold are called:
Which of the given methods of measurement of soil moisture is considered as a check for all other methods?
Which mechanical action is involved in separating the dense tufts of cotton fiber from bales during the purification process?
Which of the given is not a straight fertilizer?
Movement of nutrient ions from soil to plant roots by:
Petroleum is a mixture of-
What is opportunity cost ?
The inflorescence of sugarcane is known as:
What was the contribution of the livestock sector to the agriculture and allied sector's Gross Value Added (GVA) in the fiscal year 2021-22?
