LAW

Question 1

What are goods??

Answer 1

Goods are-
1)every kind of movable property
2)other than actionable claims and money
3)and includes stocks and shares,growing crops,grass and things attached to or forming a part of land which are agreed to be separated from the land before sale or under the contract of sale
SECTION–2(7)

Question 2

Are trees movable??

Answer 2

No trees are NOT movable but the woods separated from tree which are agreed to be saled are regarded as goods and are movable

Question 3

Difference between general property and special property.
(With example)

Answer 3

General property–
1)have all the rights of a good

Special property–
1)have some rights Not all
Eg-Contract of bailment
Contact of pledge

Question 4

Is sale of Flat regarded as sale under provisions of SOGA,1930

Answer 4

No, because flat is NOT a good as it is an immovable property

Question 5

Section-13 of sales of goods act?

Answer 5

Condition to be treated as warranty
1)when buyer altogether waive the stipulation of contract
2)when buyer elects to treat it as that of warranty
3)when contract becomes non-severable
4)as decided by law

Question 6

Any Conflict/dispute in companies act shall be resolved by??

Answer 6

NCLT
National company law tribunal

Question 7

2 types of equity shares

Answer 7

1) Normal eq. Shares
2) DVR (differential voting rights)
: less money paid
: more dividend
: but less voting right
(10 shares = 1 vote)

Question 8

What if acceptance letter after posting is lost in transmission??

Answer 8

The contract will still be made/valid if the following 3 conditions are fulfilled–

1) letter is properly addressed
2) prepaid (adequately stamped)
3) posted from a registered post (duly posted)

Question 9

Consideration maybe executed or executory…..meaning of executed and executory

Answer 9

Executed– promise PERFORMED
(Consist of performance)

Executory– yet to be performed
(Consist of promises)