Mercantile Laws

 This agreement is not void as it is not uncertain. It is certain that A intends to sell wheat to B, the quantity is also certain ( 100 tons ). The price is also certain ( Rs 15 per kg ) so it is the right answer.

Right answer because this is not a contingent contract. It is not dependant on hapening of  an event. P would purchase furniture from Q at Rs 4,000 and there is no condition that P would purchase furniture from Q on happening of an event only.

 This agreement is without consideration as in this S has promised to pay Rs 2,000 to his son T without any consideration ( nothing in return ). It is void agreement.

Right answer because this agreement is totally void as B cannot lift Rajdhani Express train in any case.It is           ,too, heavy .So B cannot lift it.

 E has the right to claim compensation from F as he has sustained loss due to non-performance of contract by F.

 It is known as hire-purchase agreement because in this case, the seller delivers the possession of goods to the other person but not the ownership and charges rent for the goods. After receiving the price the ownership is transferred. For instance A transfers the possession of machinery to B and B pays rent for it to A. The ownership of machinery remains with  A ,so it is right answer here.

Right answer because It is not an implied condition that the there can be any defect in the goods. The goods must be free from any defects.

The sale is transfer of ownership as well as possession of goods from the seller to buyer for a price. The buyer has to pay a price to the seller for the goods received by him.

Right answer because it is an example of reciprocal contract, as it consists of reciprocal promise to be simultaneously performed. A's promise to complete the project must be performed before B's promise to pay for it.

 Risk Prima Facie means that the goods are at seller's risk until the property is transferred to buyer. Any damage to the goods like loss by fire, theft etc. is to be borne by the seller untit the property of goods is transferred to buyer, so it is  the right answer.

 The buyer has both the options. He may accept only those goods, which are according to the contract and reject the rest, or he can reject the whole goods, so it is the right answer.

 The buyer is not bound to accept the whole quantity of goods. But if he accepts the whole quantity of goods he has to pay at the rate accepted in the contract for the goods, so it is right answer.

 It is a case of an unpaid seller. A has not been paid as the bill is dishonoured on due date, so he is an unpaid seller. B has not been able to pay the bill ( dishonoured ).

 According to Sale of Goods Act delivery is voluntary possession of transfer of goods from one person to another. It is not forceful so it is the right answer here.

 The sub-agent is responsible to the agent for his acts as he is appointed by the agent so it is right answer here.

 When the buyer returns the goods before expiry of fixed time, the property of goods does not pass to the buyer, but it remains with the seller. In this case the goods are not approved by the buyer so it is right answer here.

 C is entitled to get Rs 1,000 from A and Rs 2,500 from B.  A , B and C are entitled to pay Rs 2,000 each to D. ( 1/3 X 6,000 )But A can pay only half of Rs 2,000 as he is insolvent - 1/2 X 2,000 =  1,000 Rs.  Amount left to be paid ( 6,000 - 1,000 = Rs 5,000 )B would bear half of Rs 5,000 ( 1/2 X 5,000 ) = Rs 2,500. B would pay it to C. As C has paid the whole amount he would get Rs 1,000 from A  ( insolvent )and Rs 2,500 from B. 

 It is not the right of seller to sue the buyer even after he gets the goods back from the buyer. It is not a right of an unpaid seller so it is right answer here.

 S can repudiate the whole transaction as he authorized T to buy 10 cows only. The transaction of cows cannot be separated from that of buffaloes. Therefore, S can reject the whole transaction if he wishes so. It is right answer here.

 B is bound to pay A for 220 tons of grains as he has received that  much quantity and obtained advantage even if agreement has become void,so it is right answer here.

Right answer because  it is an essential condition to be called as partner of firm that he must share profits, whether he gets the salary and interest or not, according to Indian Partnership Act 1932.

 A is bound to pay the premium on factory only, as a separate policy is taken by B on the house. But he did not authorize B to take policy on house and the transaction of factory can be separated from that of house. A is bound to pay the premium on policy of factory, so it is right answer here.

  If a partner has earned any profit from the use of property of the firm, the partner is entitled to account for that profit and pay it to the firm, and not keep it himself, subject to contract between partners. As all the partners are agents and principal and for the act of a partner, all the partners are responsible. The profit earned by a partner from the property of firm must be accounted for and distributed in the partners in the agreed ratio that is the main reason that it is right answer here.

 Partnership Act is administered and regulated by State Government. For instance there are four partners A, B, C and D living in Noida ( U.P.) then they have to register their firm in Uttar Pradesh ( State Government ).

 A is liable to pay to B the damages suffered due to rejection of contract, costs incurred on contract for purchase of iron-ore and expenses incurred by B to defend himself when sued by C. It is total error on part of A and B is sued by C, because of rejection of contract by A.