Question
The specific performance of a contract may not be
obtained by:Solution
Specific Relief Act: Section 15 Who may obtain specific performance:Â Except as otherwise provided by this Chapter, the specific performance of a contract may be obtained by-- (a) any party thereto; (b) the representative in interest or the principal, of any party thereto; (c) where the contract is a settlement on marriage, or a compromise of doubtful rights between members of the same family, any person beneficially entitled thereunder; (d) where the contract has been entered into by a tenant for life in due exercise of a power, the remainderman; (e) a reversioner in possession, where the agreement is a covenant entered into with his predecessor in title and the reversioner is entitled to the benefit of such covenant; (f) a reversioner in remainder, where the agreement is such a covenant, and the reversioner is entitled to the benefit thereof and will sustain material injury by reason of its breach; (fa) when a limited liability partnership has entered into a contract and subsequently becomes amalgamated with another limited liability partnership, the new limited liability partnership which arises out of the amalgamation. (g) when a company has entered into a contract and subsequently becomes amalgamated with another company, the new company which arises out of the amalgamation; (h) when the promoters of a company have, before its incorporation, entered into a contract for the purposes of the company, and such contract is warranted by the terms of the incorporation, the company: Provided that the company has accepted the contract and has communicated such acceptance to the other party to the contract.
Which Accounting Standard deals with 'Accounting for Fixed Assets'?
___________ is a capital budgeting technique which does not require the computation of the cost of capital for decision making purposes.
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts highest rate of tax.
The instrument that evidences an acknowledgment of debt by a company is called a:
A manufacturing firm includes administrative overheads and interest costs in inventory valuation during a slowdown. Which accounting principle is violated?
What is the primary objective of capital budgeting?
An insured house valued at ₹40 lakh is insured for ₹20 lakh. A fire causes ₹10 lakh damage. What will be the claim amount under the average clause?
As at 31 March 2025, Ace Ltd. has long-term borrowings of ₹4,00,00,000, working capital loans of ₹1,00,00,000, and shareholders’ funds amounting t...
Fixed cost per unit increases when:
Deduction in respect of royalty income of authors under Chapter VI is allowed under Section: