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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 this case:
  • 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?
Most Upvoted Answer
Suppose the time fixed for performance of the contract has expired but...
Still demand performance of the contract

d) Can still demand performance of the contract.

If the time fixed for performance of the contract has expired but the time is not considered essential, the promisee can still demand performance of the contract. However, if the delay has caused any loss or damage to the promisee, they may also be entitled to claim compensation. Rescinding the contract is not an available remedy in this case as the contract is still valid and enforceable.
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Suppose the time fixed for performance of the contract has expired but...
First of all payment of money is not an essential element of contract but time is an essential element in business world, but if tine is not an essential element goods must be delivered in a reasonable time, if goods are not delivered, the seller can miss some special opportunity to earn money for which he should get compensation, for example if crackers are to be delivered to a seller but the goods are delivered after diwali he misses some special opportunity to earn and hence should get compensation
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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 this case:a)Can rescind the contractb)To claim compensationc)No remedy availabled)Can’t be determinedCorrect 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 this case:a)Can rescind the contractb)To claim compensationc)No remedy availabled)Can’t be determinedCorrect 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 this case:a)Can rescind the contractb)To claim compensationc)No remedy availabled)Can’t be determinedCorrect 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 this case:a)Can rescind the contractb)To claim compensationc)No remedy availabled)Can’t be determinedCorrect answer is option 'B'. Can you explain this answer?.
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