Start learning 50% faster. Sign in now
It was observed by the Court that the “goods on a display are an invitation, not an offer” and thus, the Court held that display of goods along with price tags merely amounts to invitation to treat and therefore, if an intending buyer is willing to purchase the goods at a price mentioned on the tag, he makes an offer to buy the goods. Thus, the shopkeeper has the right to accept or reject the same. The contract would arise only when the offer is accepted. Powell v. Lee- an acceptance is treated as valid; it is necessary that the same must be communicated to the offeror either by the offeree or by some duly authorized person on his behalf. Harvey v. Facey - Mere reply of a query is not an acceptance. Felthouse v. Bindley- acceptance should be communicated and such communication should be made to the offeror.
'Distributed Profits' is also known as:
If two dice are thrown together, what is the probability of getting an even number on one dice and an odd number on the other dice?
Consider the following Utility function U(x,y) = 4x+5y. The price of x and y are 5 and 6 respectively. The income of the consumer is 120. Calculate the ...
Match the following
A. Modigliani I. Liquidity Trap
B. Hicks ...
Consider the following set of data:
{23.32 32.33 32.88 28.98 33.16 26.33 29.88 32.69 18.98 21.23 26.66 29.89}
If f(x) is continuous for all real values of x and f(x) takes on only rational values, then if f(1)=1, the value of f(0) is
If interest payments are subtracted from gross fiscal deficit, the remainder will be
What is the slope of the Engel curve for a Giffen good?
The reduction in cost due to increase in efficiency is referred as_____.