Question
According to the Arbitration and Conciliation Act which
of the following is incorrect with respect to an Arbitration Agreement?Solution
Explanation: Section 7 - Arbitration agreement.—(1) In this Part, “arbitration agreement” means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not. (2) An arbitration agreement may be in the form of an arbitration clause in a contract or in the form of a separate agreement. (3) An arbitration agreement shall be in writing. (4) An arbitration agreement is in writing if it is contained in— (a) a document signed by the parties; (b) an exchange of letters, telex, telegrams or other means of telecommunication including communication through electronic means which provide a record of the agreement; or (c) an exchange of statements of claim and defence in which the existence of the agreement is alleged by one party and not denied by the other.
'A' purchased an article and sold it to 'B' at 10% profit. 'B' marked it up by 25% above the price at which 'A' has purchased it and then sold it after ...
- A merchant buys 10 kg of wheat at Rs. 300 per kg. While selling, he uses a faulty weight that shows 1100 grams instead of 1000 grams but claims to sell it ...
An article is marked x% (0 < x < 40) above its cost price. It is sold by giving x/2% discount on its marked price. If there is a profit of 10(1/2)%, the...
A person named 'X' purchased a mobile phone and a headphone. He sells the mobile phone at a 20% profit and the headphone at a 10%...
The cost price of a laptop and a smartphone is Rs. 60,000 and Rs. 30,000, respectively. The shopkeeper sold the smartphone and the laptop at a loss of 1...
A bought a laptop for Rs.25000. He spent 16% of the amount that he had paid for buying it for its repair. He then sold the laptop to B and earned a prof...
A shopkeeper marked an article 50% above its cost price and made a profit of Rs. 320 when he sold the article after giving a discount of 20%. Find the p...
Akash bought an item for Rs. 250 and marked it ____ above the cost price and gave a discount of ____ and made a profit/loss of Rs...
A shopkeeper sold an article for Rs. 200 after offering a discount of 20%. If he earned a profit of 60%, then find the ratio of cost price to the marked...
A man purchases some number of articles at Rs.729000 and he sells 4/9th of them at 7.5% loss. what profit % did he sell the remaining article to gain 5...