CA Foundation Exam > CA Foundation Questions > X agrees to sell to Y one hundred tons of oil...
Start Learning for Free
X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.
Q.If X is a dealer in coconut oil and price is to be fixed by Z
- a)Valid contract
- b)Void contract
- c)Voidable contract
- d)Uncertain contract
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
X agrees to sell to Y one hundred tons of oil. State the position of t...
Position of Agreement:
The position of the agreement between X and Y, where X agrees to sell "one hundred tons of oil" to Y, depends on the scenario where X is a dealer in coconut oil and the price is to be fixed by Z.
In this case, the position of the agreement can be determined as follows:
1. Valid contract:
If the agreement meets all the essential elements of a valid contract, including offer, acceptance, consideration, capacity, and lawful object, it will be considered a valid contract. In this scenario, if X, Y, and Z fulfill all the necessary requirements, the agreement will be considered valid.
2. Void contract:
If the agreement is found to be illegal, against public policy, or involves fraudulent activities, it will be considered void. However, based on the given information, there is no indication that the agreement falls under this category.
3. Voidable contract:
A contract may be considered voidable if one party has the option to either enforce or rescind the contract due to certain circumstances, such as misrepresentation, duress, undue influence, or lack of capacity. If any of these factors are present in the agreement, it may be classified as a voidable contract. However, based on the given information, there is no indication of any such factors.
4. Uncertain contract:
An uncertain contract is one where the terms are not clear or the subject matter is uncertain. If the agreement lacks clarity regarding the quantity of oil to be sold or any other essential terms, it may be considered an uncertain contract. However, based on the given information, the agreement clearly states the quantity of "one hundred tons of oil."
Therefore, based on the information provided, the position of the agreement between X and Y, where X is a dealer in coconut oil and the price is to be fixed by Z, is a valid contract.
The position of the agreement between X and Y, where X agrees to sell "one hundred tons of oil" to Y, depends on the scenario where X is a dealer in coconut oil and the price is to be fixed by Z.
In this case, the position of the agreement can be determined as follows:
1. Valid contract:
If the agreement meets all the essential elements of a valid contract, including offer, acceptance, consideration, capacity, and lawful object, it will be considered a valid contract. In this scenario, if X, Y, and Z fulfill all the necessary requirements, the agreement will be considered valid.
2. Void contract:
If the agreement is found to be illegal, against public policy, or involves fraudulent activities, it will be considered void. However, based on the given information, there is no indication that the agreement falls under this category.
3. Voidable contract:
A contract may be considered voidable if one party has the option to either enforce or rescind the contract due to certain circumstances, such as misrepresentation, duress, undue influence, or lack of capacity. If any of these factors are present in the agreement, it may be classified as a voidable contract. However, based on the given information, there is no indication of any such factors.
4. Uncertain contract:
An uncertain contract is one where the terms are not clear or the subject matter is uncertain. If the agreement lacks clarity regarding the quantity of oil to be sold or any other essential terms, it may be considered an uncertain contract. However, based on the given information, the agreement clearly states the quantity of "one hundred tons of oil."
Therefore, based on the information provided, the position of the agreement between X and Y, where X is a dealer in coconut oil and the price is to be fixed by Z, is a valid contract.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer?
Question Description
X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer?.
X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer?.
Solutions for X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice X agrees to sell to Y one hundred tons of oil. State the position of this agreement in the following cases.Q.If X is a dealer in coconut oil and price is to be fixed by Za)Valid contractb)Void contractc)Voidable contractd)Uncertain contractCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup