Question
Reciprocal promises provide for doing certain things
which are legal & certain others which are illegal, under section 57Solution
Section 57 states that if reciprocal promises have to be performed under a contract, and one promise is lawful while the other is unlawful, the entire contract is void because the consideration fails.[Indian Contract Act, Section 57]
As per Companies Act 2013, a related party transaction (RPT) like sale, purchase or supply of any goods or materials can be undertaken after prior appro...
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