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Questions and Answers
What is the significance of the law of contract in business?
What is the significance of the law of contract in business?
- It facilitates smooth trade and business operations (correct)
- It restricts personal dealings
- It complicates trade and business operations
- It eliminates the need for contracts in business
When did the Indian Contract Act, 1872 come into force?
When did the Indian Contract Act, 1872 come into force?
- 1st September 1872 (correct)
- 28th July 1866
- 25th April 1872
- 3rd Law Commission of British India
What was the role of the third law commission of British India in the enactment of the Indian Contract Act, 1872?
What was the role of the third law commission of British India in the enactment of the Indian Contract Act, 1872?
- Brought the law into force on 25th April 1872
- Enacted The Act 9 of 1872
- Presented the report on contract law for India (correct)
- Submitted a draft on 28th July 1866
To what extent is the law of contract applicable?
To what extent is the law of contract applicable?
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What do the rules and regulations in business law provide for?
What do the rules and regulations in business law provide for?
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