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L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:
- a)Uncertainty of meaning
- b)Uncertainty of price
- c)Uncertainty of existence of subject matter
- d)Uncertainty of quality of subject matter
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
L says to J, I shall sell my house, will you buy? J says yes, I shall ...
Explanation:
The agreement between L and J, where L says "I shall sell my house, will you buy?" and J says "yes, I shall buy," is void due to the uncertainty of price.
Uncertainty of Price:
Price is an essential element of a contract of sale, and it must be certain or at least ascertainable. In this case, L did not mention the price of the house. When J agreed to buy, there was no mutual agreement on the price of the house. Therefore, the contract is void.
Other Types of Uncertainty:
Let's take a look at the other types of uncertainty that can make a contract void.
- Uncertainty of meaning: A contract is void if its terms are not clear and precise enough to be understood. For example, if L says, "I shall sell my car to J," without specifying which car, the contract is void due to the uncertainty of meaning.
- Uncertainty of existence of subject matter: A contract is void if the subject matter is not in existence or cannot come into existence. For example, if L says, "I shall sell my unicorn to J," the contract is void due to the uncertainty of existence of the subject matter.
- Uncertainty of quality of subject matter: A contract is void if the quality of the subject matter is uncertain. For example, if L says, "I shall sell my car to J, but I don't know if it's in good condition or not," the contract is void due to the uncertainty of quality of the subject matter.
Conclusion:
In conclusion, the agreement between L and J is void due to the uncertainty of price. The price is an essential element of a contract of sale, and it must be certain or at least ascertainable.
The agreement between L and J, where L says "I shall sell my house, will you buy?" and J says "yes, I shall buy," is void due to the uncertainty of price.
Uncertainty of Price:
Price is an essential element of a contract of sale, and it must be certain or at least ascertainable. In this case, L did not mention the price of the house. When J agreed to buy, there was no mutual agreement on the price of the house. Therefore, the contract is void.
Other Types of Uncertainty:
Let's take a look at the other types of uncertainty that can make a contract void.
- Uncertainty of meaning: A contract is void if its terms are not clear and precise enough to be understood. For example, if L says, "I shall sell my car to J," without specifying which car, the contract is void due to the uncertainty of meaning.
- Uncertainty of existence of subject matter: A contract is void if the subject matter is not in existence or cannot come into existence. For example, if L says, "I shall sell my unicorn to J," the contract is void due to the uncertainty of existence of the subject matter.
- Uncertainty of quality of subject matter: A contract is void if the quality of the subject matter is uncertain. For example, if L says, "I shall sell my car to J, but I don't know if it's in good condition or not," the contract is void due to the uncertainty of quality of the subject matter.
Conclusion:
In conclusion, the agreement between L and J is void due to the uncertainty of price. The price is an essential element of a contract of sale, and it must be certain or at least ascertainable.
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Community Answer
L says to J, I shall sell my house, will you buy? J says yes, I shall ...
There is no clarity in price . price is essential at the time of transaction . hence its uncertainty of price
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L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. Can you explain this answer?
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L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. 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 L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. 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 L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. Can you explain this answer?.
L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. 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 L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. 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 L says to J, I shall sell my house, will you buy? J says yes, I shall buy. The agreement is void due to:a)Uncertainty of meaningb)Uncertainty of pricec)Uncertainty of existence of subject matterd)Uncertainty of quality of subject matterCorrect answer is option 'B'. Can you explain this answer?.
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