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Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?
- a)No, because the sum does not exceeds Rs. 1,000.
- b)No, because the registration is still pending.
- c)No, as Mr.S has not acknowledged the debt.
- d)Yes.
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files ...
Case Analysis:
Issue: Whether the firm will succeed in the suit against Mr. S for a sum of Rs. 500?
Relevant Information:
- Date of filing the suit: 01.03.2007
- Amount of debt: Rs. 500
Applicable Law:
To determine whether the firm will succeed in the suit, we need to consider the relevant legal provisions.
Analysis:
The options provided are as follows:
A: No, because the sum does not exceed Rs. 1,000.
- This option suggests that the firm will not succeed because the sum of Rs. 500 does not exceed Rs. 1,000.
- However, there is no legal provision mentioned that specifies a minimum threshold for filing a suit. Therefore, this option is incorrect.
B: No, because the registration is still pending.
- This option suggests that the firm will not succeed because the registration is still pending.
- The registration referred to in this option is not clear. It is unclear whether it pertains to the registration of the firm or some other registration.
- However, the registration status of the firm or any other registration does not necessarily impact the success of the suit. Therefore, this option is incorrect.
C: No, as Mr. S has not acknowledged the debt.
- This option suggests that the firm will not succeed because Mr. S has not acknowledged the debt.
- While acknowledgment of debt can strengthen a creditor's case, it is not a mandatory requirement for filing a suit to recover a debt.
- The absence of acknowledgment does not automatically lead to the failure of the suit. Therefore, this option is incorrect.
D: Yes.
- This option suggests that the firm will succeed.
- However, no explanation or reasoning is provided to support this option. Therefore, it cannot be determined whether this option is correct.
Conclusion:
Based on the analysis, none of the options provide a clear and accurate answer to whether the firm will succeed in the suit against Mr. S for a sum of Rs. 500. Therefore, it is not possible to determine the correct answer without further information or clarification.
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Issue: Whether the firm will succeed in the suit against Mr. S for a sum of Rs. 500?
Relevant Information:
- Date of filing the suit: 01.03.2007
- Amount of debt: Rs. 500
Applicable Law:
To determine whether the firm will succeed in the suit, we need to consider the relevant legal provisions.
Analysis:
The options provided are as follows:
A: No, because the sum does not exceed Rs. 1,000.
- This option suggests that the firm will not succeed because the sum of Rs. 500 does not exceed Rs. 1,000.
- However, there is no legal provision mentioned that specifies a minimum threshold for filing a suit. Therefore, this option is incorrect.
B: No, because the registration is still pending.
- This option suggests that the firm will not succeed because the registration is still pending.
- The registration referred to in this option is not clear. It is unclear whether it pertains to the registration of the firm or some other registration.
- However, the registration status of the firm or any other registration does not necessarily impact the success of the suit. Therefore, this option is incorrect.
C: No, as Mr. S has not acknowledged the debt.
- This option suggests that the firm will not succeed because Mr. S has not acknowledged the debt.
- While acknowledgment of debt can strengthen a creditor's case, it is not a mandatory requirement for filing a suit to recover a debt.
- The absence of acknowledgment does not automatically lead to the failure of the suit. Therefore, this option is incorrect.
D: Yes.
- This option suggests that the firm will succeed.
- However, no explanation or reasoning is provided to support this option. Therefore, it cannot be determined whether this option is correct.
Conclusion:
Based on the analysis, none of the options provide a clear and accurate answer to whether the firm will succeed in the suit against Mr. S for a sum of Rs. 500. Therefore, it is not possible to determine the correct answer without further information or clarification.
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Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?a)No, because the sum does not exceeds Rs. 1,000.b)No, because the registration is still pending.c)No, as Mr.S has not acknowledged the debt.d)Yes.Correct answer is option 'B'. Can you explain this answer?
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Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?a)No, because the sum does not exceeds Rs. 1,000.b)No, because the registration is still pending.c)No, as Mr.S has not acknowledged the debt.d)Yes.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?a)No, because the sum does not exceeds Rs. 1,000.b)No, because the registration is still pending.c)No, as Mr.S has not acknowledged the debt.d)Yes.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?a)No, because the sum does not exceeds Rs. 1,000.b)No, because the registration is still pending.c)No, as Mr.S has not acknowledged the debt.d)Yes.Correct answer is option 'B'. Can you explain this answer?.
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