Practice Test 36
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A and B become partners for 16 years. A pays B a premium of Rs. 5,000/-. At the end of 8 years there is dispute between A and B and they declare a dissolution.

Arun had deposited a bag in the cloak Room of a railway station by paying Rs. 50/. On the face of the ticket, issued to him. were inscribed “see reverse for terms & conditions”. Clause 10 of the printed Terms & Conditions limited the liability of the company for loss of a baggage to Rs. 100/-. The bag was lost and Arun claimed Rs. 650/- as its value.

A contingent contract is ________.

X, Y, Z are partners in a firm and X becomes insolvent. Then ________.

When performance of promise becomes impossible or illegal by occurrence of an unexpected event or change of circumstances beyond the contemplation of parties, the contract becomes void. The situation is dealing with ________.

The law dealing with the partnerships is contained in ________.

A Hindu widow borrowed money from a lender for the purpose of filing a suit for maintenance. The lender advanced money at 100 percent rate of interest. The act of the money lender is induced by ________.

There can be a stranger to a consideration but not a stranger to a contract signifies that a consideration may move from ________.

If the buyer is insolvent, ________.

Dissolution of partnership means ________.

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MERCANTILE LAWS
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