The Doctrine of Privity of Contract states that___________.

A contract cannot confer any right on one who is not a party to the contract, even though the very object of the contract may have been to benefit him
A contract can confer right on one who is not a party to the contract, if the contract benefits him
A contract always confers right on one who is not a party to the contract
A contract can confer rights on strangers

A person may be admitted as a new partner:

In accordance with a contract between the existing partners.
In accordance with a contract between the existing partners or with the consent of all the existing partners subject to the provisions of Section 30 of the Indian Partnership Act, 1932.
After obtaining specific approval of the Registrar of Firms & Societies, to this effect.
By simply taking the consent of the new partner.

Misrepresentation means and includes:

The positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true.
Any breach of duty, which, without an intention to deceive, gains an advantage to the person committing it, or any one claiming under him, by misleading another to his prejudice or to the prejudice of any one claiming under him.
Causing, however innocently, a party to an agreement to make a mistake as to the substance of the thing which is the subject of the agreement.
All of the above

Dissolution by agreement is:

Dissolution by the adjudication of all the partners or of all the partners but one as insolvent.
Dissolution as a result of any agreement between all the partners.
Dissolution by the business of the firm becoming unlawful.
All of the above

Dissolution of a firm may take place in the following manner:

A fraudulently informs B that A’s estate is free from incumbrance. B thereupon buys the estate. The estate is subject to mortgage. Now

Which of the following statement is / are correct?

The general rule is “unless otherwise agreed, the goods remain at the seller’s risk until the property therein is transferred to the buyer, but when the property therein is transferred to the buyer, the goods are at the buyer’s risk whether delivery has been made or not”.
Where the delivery of the goods has been delayed through the fault of either the buyer or the seller, the goods are at the risk of the party in fault as regards any loss which might not have occurred but for such fault.
In ordinary circumstances, risk is borne by the buyer only when the property in the goods passes over to him. However, the parties may by special agreement stipulate that risk will pass sometime after or before the property has passed.
All of the above

Which of the following is correct?

Recission must be communicated to the other party in the same manner as a proposal is communicated.
Recission must be revoked in the same manner as a proposal is revoked.
Communication of recission is optional.
Both (a) and (b)

A proposal may be revoked in the following ways:

Implied authority of the partner does not empower him to

UnAttempted

0

Attempted

Correct

Wrong