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 river is a tributary of Cauvery?
The famous ‘Lingaraj Temple’ is built by which of the following dynasties?
What is the target for renewable energy capacity in India by 2030?
Tapali and Navrani are the folk dances of which Indian State?
What is the focus of the ‘Sampoornata Abhiyan’ launched by NITI Aayog?
Which is the second state in the Northeast India to be declared as Open Defecation Free state?
Which of the given statements best describes the difference between the Repo Rate and the Marginal Standing Facility?
Which metal did humans utilize first?
When was the Integrated Tribal Development Programme (ITDP) launched by NABARD?
Which date marks the annual celebration of Internaut Day?
