Consider the following statements:
1. A contract formed by coercion and undue influence is vitiated and voidable at the option of the party whose consent is so obtained.
2. A contract formed, where both the parties are under mistaken notion about the existence of the subject matter, is void.
Which of the statements given above is/are correct?
Read Assertion (A) and Reason (R) and give the correct answer with the help of given below: Assertion (A): Acceptance is to offer what a lighted match is to a train of gunpowder. Reason (R): Acceptance cannot be separated from offer.
S, a singer, enters into a contract with W, the owner of a theatre to sing at his theatre on Mondays and Tuesdays every weak. Before S could begin her performance the theatre was completely destroyed in an earthquake. The contract
A' in consideration that 'B' will employ 'C' in collecting the rent of B's Zamindari, promises 'B' to be responsible to the amount of Rs. 5,000 for the due collection and payment by 'C' of those rents. This is:
Read Assertion (A) and Reason (R) and answer by using given below: Assertion (A): An agreement would be void if both the parties to the agreement were under a mistake as to a matter of fact not essential to the agreement. Reason (R): Because Section 20 of the Indian Contract Act so provides.
X transfers possession or custody of the farmland to his son, S. S shall pay rent or a lease fee in return. S only receives custody and control of the property, but X still owns it. X is thus responsible for paying the property taxes and is liable for what happens on the land. This kind of contract or arrangement is called: