Whether the contention of Mr. Mukesh is correct or otherwise as per the provisions of the Indian Contract Act, 1872.
Understand the Problem
The question is asking us to analyze the situation regarding the loan repayments made by Mr. Mukesh to Mr. Sohan in relation to the Indian Contract Act, 1872. We need to determine whether Mr. Mukesh's insistence on adjusting the repayment of ` 50,000 towards the loan taken on 3rd March is correct or not, considering the legal principles involved.
Answer
Mr. Mukesh's contention is correct as per the Indian Contract Act, 1872.
The contention of Mr. Mukesh is correct as per the provisions of the Indian Contract Act, 1872.
Answer for screen readers
The contention of Mr. Mukesh is correct as per the provisions of the Indian Contract Act, 1872.
More Information
The Indian Contract Act, 1872 lays down the legal provisions for agreements and their enforceability. In this context, Mr. Mukesh's contention aligns with these provisions.
Sources
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