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Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?
- a)Can rescind the contract.
- b)To claim compensation.
- c)No remedy available.
- d)Can’t be determined.
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Suppose the time fixed for performance of the contract has expired but...
Since the time is not essential but is fixed,then the contract is VALID but the performer of the contract has to pay the other damages ie compensation. so ' B'
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Suppose the time fixed for performance of the contract has expired but...
Remedy of the Promisee when the Time Fixed for Performance of the Contract has Expired but is not Essential:
The remedy available to the promisee in such circumstances would be to claim compensation. Here is a detailed explanation:
- When the time fixed for performance of a contract has expired, but the time is not considered essential, the promisee still has a remedy available.
- In such cases, the promisee cannot rescind or cancel the contract as the delay in performance does not constitute a breach of contract.
- However, the promisee can claim compensation for any losses or damages suffered due to the delay in performance.
- The promisee can seek compensation for any financial losses incurred, additional expenses, or any other damages caused by the delay.
- It is important to note that the promisee cannot claim compensation if the time for performance is deemed essential or if the delay is unreasonable or substantial.
- The availability of this remedy may vary depending on the specific terms and conditions of the contract and the applicable laws in the jurisdiction.
- It is advisable for the promisee to consult with a legal professional to understand their rights and options for seeking compensation in such circumstances.
In summary, the remedy available to the promisee when the time fixed for performance of the contract has expired but is not essential is to claim compensation for any losses or damages suffered due to the delay in performance.
The remedy available to the promisee in such circumstances would be to claim compensation. Here is a detailed explanation:
- When the time fixed for performance of a contract has expired, but the time is not considered essential, the promisee still has a remedy available.
- In such cases, the promisee cannot rescind or cancel the contract as the delay in performance does not constitute a breach of contract.
- However, the promisee can claim compensation for any losses or damages suffered due to the delay in performance.
- The promisee can seek compensation for any financial losses incurred, additional expenses, or any other damages caused by the delay.
- It is important to note that the promisee cannot claim compensation if the time for performance is deemed essential or if the delay is unreasonable or substantial.
- The availability of this remedy may vary depending on the specific terms and conditions of the contract and the applicable laws in the jurisdiction.
- It is advisable for the promisee to consult with a legal professional to understand their rights and options for seeking compensation in such circumstances.
In summary, the remedy available to the promisee when the time fixed for performance of the contract has expired but is not essential is to claim compensation for any losses or damages suffered due to the delay in performance.
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Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct answer is option 'B'. Can you explain this answer?
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Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct 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 Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct 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 Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct answer is option 'B'. Can you explain this answer?.
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Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?a)Can rescind the contract.b)To claim compensation.c)No remedy available.d)Can’t be determined.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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