Question
Under the provisions of the Motor Vehicles Act, when
can a driving licence be renewed, and from when will it be effective?Solution
Explanation: Section 15. Renewal of driving licences.(1) Any licensing authority may, on application made to it, renew a driving licence issued under the provisions of this Act with effect from the date of its expiry:Provided that in any case where the application for the renewal of a licence is made [either one year prior to date of its expiry or within one year] after the date of its expiry, the driving licence shall be renewed with effect from the date of its renewal.
Forwards contract can be reversed only with the same counter-party with whom it was entered into
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