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Contract Act An illegal agreement is forbidden by law (as per section 23 of the Indian Contract Act, 1872). Agreements are said to be illegal if the performance or formation of the agreement causes the parties to engage in activity that is illegal. The illegality must relate directly to the subject matter creation of the contract and not some intervening circumstance. An illegal agreement is not a contract at all, and courts will not enforce them. Thus, they are said to be “forbidden by law” or “unenforceable”.
What does the capability approach focus on in achieving justice?
How does factoring differ from bill discounting as a method of financing for MSMEs?
Which of the following carries lowest risk weight?
Crystallisation of outstanding Foreign currency liability into rupee liability, in case of non realisation of export bill, is to be done at ________
What is the main criterion for classifying a loan as a Non-Performing Asset (NPA)?
Which of the following statements regarding the classification of financial markets is/are correct?
What is the difference between intrinsic and extrinsic motivation?
Which of the following entities is responsible for regulating Asset Reconstruction Companies (ARCs) in India?
The _____ measures the price volatility of fixed income securities.