Advertisements
Advertisements
Question
Consists of legal proposition(s)/ principle(s) (hereinafter referred to as 'principle') and facts. Such principles may or may not be true in the real and legal sense, yet you have to conclusively assume them to be true for the purposes of this Section. In other words, in answering these questions, you must not rely on any principle except the principles that are given herein below for every question.
Further, you must not assume any facts other than those stated in the question. The objective of this section is to test your interest in the study of law, research aptitude, and problem-solving ability, even if the 'most reasonable conclusion' arrived at may be absurd or unacceptable for any other reason. It is not the objective of this section to test your knowledge of the law.
Therefore, to answer a question, the principle is to be applied to the given facts and to choose the most appropriate option.
Principle: Every agreement, by which any party is restricted absolutely from enforcing his right in respect of any contract, by the usual legal proceedings in the ordinary Tribunals, is void to that extent. The law also provides that nobody can confer jurisdiction to a civil court by an agreement between parties.
Facts: A and B entered into a valid contract for rendering certain services. A clause in the contract was that in case of any dispute arose out of the contract; it shall be referred to for Arbitration only. Is the contract valid?
Options
Arbitrator cannot be termed as an ordinary Tribunal. Hence, the agreement is void and would be unenforceable.
The parties were trying to confer jurisdiction to some authority to decide a dispute and hence the clause would be invalid.
The contract is valid but the clause regarding Arbitration is void.
Arbitration is also a valid dispute settlement machinery recognized by law and hence the entire contract is valid.
Advertisements
Solution
Arbitration is also a valid dispute settlement machinery recognized by law and hence the entire contract is valid.
Explanation:
Arbitration is also a valid dispute settlement machinery recognized by law and hence the entire contract is valid. Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. The parties opt for a private dispute resolution procedure (Arbitration) instead of going to court. The contract between A and B provided that in case of a dispute, it would be resolved through an Arbitration only. The contract is valid because Arbitration is a valid dispute settlement means and sis recognized by the Indian legal system.
APPEARS IN
RELATED QUESTIONS
In this Question, the problem consists of a set of rules and facts. Apply the specified rules to the set of facts and answer the question.
Rules:
A. A minor is a person who is below the age of eighteen. However, where a guardian administers the minor's property the age of majority is twenty-one.
B. A minor is not permitted by law to enter into a contract. Hence, where a minor enters into a contract with a major person, the contract is not enforceable. This effectively means that neither the minor nor the other party can make any claim on the basis of the contract.
C. In a contract with a minor, if the other party hands over any money or confers any other benefit on the minor, the same shall not be recoverable from the minor unless the other party was deceived by the minor to hand over money or any other benefit. The other party will have to show that (he minor misrepresented her age, he was ignorant about the age of the minor and that he handed over the benefit on the basis of such representation.
Facts Ajay convinces Bandita, a girl aged I8 that she should sell her land to him. Bandita's mother Chaaru is her guardian. Nonetheless Bandita, without the permission of Chaaru, sells the land to Ajay for a total sum of rupees fifty lakh, paid in full and final settlement of the price. Chaaru challenges this transaction claiming that Bandita is a minor and hence the possession of the land shall not be given to Ajay. Thus Ajay is in a difficult situation and has no idea how to recover his money from Bandita.
Which of the following is correct?
In this Question problem consists of a set of rules and facts. Apply the specified rules to the set of facts and answer the question. In answering the following question, you should not rely on any rule(s) except the rule(s) that are supplied for problem. Further, you should not assume any fact other than 'those stated in the problem. The aim is to test your ability to properly apply a rule to a given set of facts, even when the result is absurd or unacceptable for any other reason. It is not the aim to test any knowledge of law you may already possess.
Rules:
A. Whoever intending to take any moveable property out of the possession of any person without that person's consent, moves that property out of his or her possession is said to commit theft.
B. A person who, without lawful excuse, damages any property belonging to another intending to damage any such property shall be guilty of causing criminal damage. C. Damage means any impairment of the value of a property.
Facts: Veena, an old lady of 78 years, used to live with her granddaughter Indira. Veena was ill and therefore bed-ridden for several months. In those months, she could not tolerate any noise and it 'became quite difficult to clean her room. After she died, Indira hired a cleaner, Lucky, to clean the room and throw away any rubbish that maybe there. There was a pile of old newspapers that Veena had stacked in a corner of her room. Lucky asked Indira if he should clear away the pile of old newspapers, to which she said yes. Lucky took the pile to a municipality rubbish dump. While Lucky was sorting and throwing away the newspapers, he was very surprised to find a beautiful painting in between two sheets of paper. He thought that Indira probably wouldn't want this old painting back, especially because it was I’m in several places and the colour was fading. He took the painting home, mounted it on a wooden frame and hung it on the wall of his bedroom. Unknown to him, the painting was an old, masterpiece, and worth twenty thousand rupees. Before mounting the painting, Lucky pasted it on a plain sheet of paper so that it does not tear anymore. By doing so, he made its professional restoration very difficult and thereby reduced its value by half Lucky's neighbour Kamala discovered that the painting belonged to Indira. With the motive of returning the painting to Indira, Kamala climbed through an open window into Lucky's room when he was away one afternoon and removed the painting from his house. Which of the following propositions could be inferred from the facts and the rules specified,
Which of the following statements in regard to the Directive Principles of State Policy is correct?
Mark the best option:
Facts: Ganga asked Ram to send him 15 bottles of groundnut oil at once. Ram wrote back that he would send the bottles in15-20 days. Ganga did not reply and ultimately about a month and a half later Ram sent the goods. Ganga refused to accept the goods and said that there was no contract. Ram sued him in court. Will Ram succeed in his case?
Principle:
- In order to convert a proposal into a promise, the acceptance should be absolute and unqualified.
- If there is an offer and acceptance between parties a contract is formed.
Mark the best option:
Principle: Agreements, the meaning of which is not certain, or capable of being made certain, are void.
Facts: Karthik, a physician, enters into an agreement with Talreja to rent from him a flat for setting up a clinic at Rupees fifteen thousand p.m. and Rupees two thousand p.m. extra if the flat proves lucky for him. A month after Karthik started using the flats in his clinic; he was appointed as visiting faculty by one of the medical colleges. Talreja claims Rupees seventeen thousand p.m.as rent from the next month onwards but Karthik refuses to pay him the amount claimed by him.
An offer stands revoked
A contract is made where:
................. is a one-sided contract in which only one party has to perform his promise or obligation.
Given below is the statement of Legal principle followed by a factual situation. Apply the principle to the facts given below and select the most appropriate answer.
LEGAL PRINCIPLE: The acceptance of an offer will be valid only if it is made in the way it was expected to be made.
FACTUAL SITUATION: There was a telephonic discussion between 'J' and 'K' for negotiating the sale of the shop of former to the latter. Upon reaching an agreement as to the price of the shop of 'J' at Rs 20 lakh, 'J' told 'K' to send a letter to him within two weeks confirming that she wishes to buy the shop for the price finalized. Two days thereafter, 'K' gave her acceptance to 'J' over the telephone but sent the letter of confirmation after a lapse of one month.
ls 'J' bound by the acceptance of 'K'?
DECISION:
The institutional infrastructure under the Insolvency and Bankruptcy Code, 2016, rests on certain pillars:
- Insolvency Professionals
- Information Utilities
- Adjudication
- The Insolvency and Bankruptcy Board of India
- Asset Construction Companies
Correct code is :
