Question
Which of the following best describes the meaning of
‘discharge of a contract by novation’?Solution
A contract can be discharged either by agreement or by a breach. Novation is one way to discharge a contract by agreement and section 62 of the India Contract, 1872 Act gives expression to the doctrine of Novation. The substitution or replacement of an old contract with a new one is termed as Novation. It takes place with the consent and agreement of both the parties to a contract thus with the creation of new contractual obligations, the old ones are discharged. The doctrine of Novation exists to give expression to the concept that parties to a contract should be competent to add, subtract or vary the terms of the contract before its breach with the help of a new contract.
Identify the correct pair of social infrastructure in an economy.
When the demand curve is a horizontal straight line, it indicates that the price elasticity of demand is_______.
Which of the following is NOT one of the recognised systems of medicines under AYUSH?
What is constant along an indifference curve?
(1) Level of Utility
(2) Level of Output
(3) Level of Price
Market Stabilization Scheme (MSS) was launched by the RBI in_______.
_________ may be defined as a situation in which the poor are unable to accumulate resources or earn enough to move out of the vicious cycle of poverty.
Let Pr (X=2) = 1. Define µ2n = E(X-µ)^2n, µ = E(X). Then:
Which of the following given options would result in increase in gross external debt, ceteris paribus?
Delicensing means abolishing the requirement of an industrial license to
(i) set up a new unit
(ii) substantially expand an existing ...
Which of the given options is INCORRECT in the context of fiscal deficit?
