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In this case it was held that for the purpose of entering into a contract two things are essential: (1) To have complete knowledge of the facts of the offer or proposal; and (2) Acceptance of the offer. To convert a proposal into an agreement both knowledge and assent to it must be present. However, in the given case, both were missing. As the plaintiff had no knowledge and hadn’t given his approval or accepted the proposal so there did not exist a valid contract between the two. In the case it was held that for creating or entering into a valid contract there has to be knowledge and assent to the offeree made by the proposer.
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By giving a discount of 23% on the market price of an article, the trader earns a profit of 10%. If the difference between the market price and the cost...
A dishonest dealer professes to sell his goods at cost price, but he uses a weight of 700 gm for the kg weight. Find his approximate gain per cent.
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The marked price of two items 'C' and 'D' is Rs. 55,000 each. Item 'C' is sold after allowing a discount of 28%, whereas item 'D' is sold after allowing...
The cost price of a pen is Rs. 200. If the marked price and selling price of the pen are 25% more and 20% more, respectively than its cost price, then f...
A gardener is planting two types of flowers, roses and tulips. Each rose costs ₹50, and each tulip costs ₹30. If the gardener spends ₹3,800 in tot...
