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V purchased a used computer from P thinking it as a computer imported from USA, P failed to disclose the fact to V. On knowing the fact V wants to repudiate the contract.
Which of the following statement(s) is correct?
Which of the following statement(s) is correct?
- a)V can repudiate the contract on the ground of fraud.
- b)V can repudiate the contract on the ground of misrepresentation.
- c)V cannot repudiate the contract.
- d)V can repudiate the contract on the ground of mistake.
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
V purchased a used computer from P thinking it as a computer imported ...
Explanation:
V purchased a used computer from P believing it to be a computer imported from the USA. However, it was later discovered that P failed to disclose this fact to V. Now, V wants to repudiate the contract. Let's analyze the options provided:
a) V can repudiate the contract on the ground of fraud:
Fraud occurs when a party intentionally conceals or misrepresents a material fact to deceive the other party and induce them into entering a contract. In this case, P failed to disclose the fact that the computer was not imported from the USA. If V can prove that P intentionally concealed this information to deceive V and induce them into purchasing the computer, V may be able to repudiate the contract on the ground of fraud.
b) V can repudiate the contract on the ground of misrepresentation:
Misrepresentation occurs when a party makes a false statement or representation that induces the other party to enter into a contract. In this case, P failed to disclose the fact that the computer was not imported from the USA. If V can prove that P made a false statement or representation regarding the origin of the computer, V may be able to repudiate the contract on the ground of misrepresentation.
c) V cannot repudiate the contract:
This statement suggests that V cannot repudiate the contract for any reason. However, given the circumstances where P failed to disclose crucial information about the computer, it is unlikely that V would be bound by the contract.
d) V can repudiate the contract on the ground of mistake:
Mistake occurs when both parties are mistaken about a fundamental aspect of the contract. In this case, V believed the computer to be imported from the USA, but it was later discovered that it was not. If V can prove that both parties were mistaken about the origin of the computer, V may be able to repudiate the contract on the ground of mistake.
Conclusion:
Option c) V cannot repudiate the contract is not correct in this case. V may have grounds to repudiate the contract based on fraud, misrepresentation, or mistake, depending on the specific circumstances and evidence presented. It is important to consider the specific laws and regulations of the jurisdiction in question to determine the exact legal rights and remedies available to V.
V purchased a used computer from P believing it to be a computer imported from the USA. However, it was later discovered that P failed to disclose this fact to V. Now, V wants to repudiate the contract. Let's analyze the options provided:
a) V can repudiate the contract on the ground of fraud:
Fraud occurs when a party intentionally conceals or misrepresents a material fact to deceive the other party and induce them into entering a contract. In this case, P failed to disclose the fact that the computer was not imported from the USA. If V can prove that P intentionally concealed this information to deceive V and induce them into purchasing the computer, V may be able to repudiate the contract on the ground of fraud.
b) V can repudiate the contract on the ground of misrepresentation:
Misrepresentation occurs when a party makes a false statement or representation that induces the other party to enter into a contract. In this case, P failed to disclose the fact that the computer was not imported from the USA. If V can prove that P made a false statement or representation regarding the origin of the computer, V may be able to repudiate the contract on the ground of misrepresentation.
c) V cannot repudiate the contract:
This statement suggests that V cannot repudiate the contract for any reason. However, given the circumstances where P failed to disclose crucial information about the computer, it is unlikely that V would be bound by the contract.
d) V can repudiate the contract on the ground of mistake:
Mistake occurs when both parties are mistaken about a fundamental aspect of the contract. In this case, V believed the computer to be imported from the USA, but it was later discovered that it was not. If V can prove that both parties were mistaken about the origin of the computer, V may be able to repudiate the contract on the ground of mistake.
Conclusion:
Option c) V cannot repudiate the contract is not correct in this case. V may have grounds to repudiate the contract based on fraud, misrepresentation, or mistake, depending on the specific circumstances and evidence presented. It is important to consider the specific laws and regulations of the jurisdiction in question to determine the exact legal rights and remedies available to V.
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V purchased a used computer from P thinking it as a computer imported from USA, P failed to disclose the fact to V. On knowing the fact V wants to repudiate the contract.Which of the following statement(s) is correct?a)V can repudiate the contract on the ground of fraud.b)V can repudiate the contract on the ground of misrepresentation.c)V cannot repudiate the contract.d)V can repudiate the contract on the ground of mistake.Correct answer is option 'C'. Can you explain this answer?
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V purchased a used computer from P thinking it as a computer imported from USA, P failed to disclose the fact to V. On knowing the fact V wants to repudiate the contract.Which of the following statement(s) is correct?a)V can repudiate the contract on the ground of fraud.b)V can repudiate the contract on the ground of misrepresentation.c)V cannot repudiate the contract.d)V can repudiate the contract on the ground of mistake.Correct answer is option 'C'. 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 V purchased a used computer from P thinking it as a computer imported from USA, P failed to disclose the fact to V. On knowing the fact V wants to repudiate the contract.Which of the following statement(s) is correct?a)V can repudiate the contract on the ground of fraud.b)V can repudiate the contract on the ground of misrepresentation.c)V cannot repudiate the contract.d)V can repudiate the contract on the ground of mistake.Correct answer is option 'C'. 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 V purchased a used computer from P thinking it as a computer imported from USA, P failed to disclose the fact to V. On knowing the fact V wants to repudiate the contract.Which of the following statement(s) is correct?a)V can repudiate the contract on the ground of fraud.b)V can repudiate the contract on the ground of misrepresentation.c)V cannot repudiate the contract.d)V can repudiate the contract on the ground of mistake.Correct answer is option 'C'. Can you explain this answer?.
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