CA Foundation Exam > CA Foundation Questions > Promise to servant of rewarding 1000 rupees ...
Start Learning for Free
Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract?
Most Upvoted Answer
Promise to servant of rewarding 1000 rupees for finding his lost gold...
Executed Contract vs. Executory Contract
Executed Contract:
- An executed contract is a contract that has been fully performed by both parties.
- In this case, the promise made by the servant to reward 1000 rupees for finding the lost gold chain is an executed contract if the servant has already received the gold chain and paid the reward.
- Once both parties have fulfilled their obligations, the contract is considered executed and cannot be revoked.
Executory Contract:
- On the other hand, an executory contract is a contract where one or both parties still have outstanding obligations to fulfill.
- If the servant has not yet found the lost gold chain and therefore has not received the reward, the contract is considered executory.
- Both parties are still bound by the terms of the contract until the servant finds the gold chain and the reward is paid.
Conclusion:
- In conclusion, whether the contract in question is executed or executory depends on whether the servant has already found the lost gold chain and received the reward.
- If the obligations of both parties have been fulfilled, it is an executed contract. If there are still outstanding obligations to be met, it is an executory 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
Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract?
Question Description
Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? 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 Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract?.
Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? 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 Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract?.
Solutions for Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? 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 Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? defined & explained in the simplest way possible. Besides giving the explanation of
Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract?, a detailed solution for Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? has been provided alongside types of Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? theory, EduRev gives you an
ample number of questions to practice Promise to servant of rewarding 1000 rupees for finding his lost gold chain.what kind of contract is this , executed contract or executory contract? 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