Who may institute action for annulment of voidable contracts? Briefly discuss.
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Who may institute action for annulment of voidable contracts? Briefly discuss.
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- Is there any exception to the rule that the particular motives of the parties in entering into a contract are different from the cause of the contract? If there is, what is it? Give examples.Why would the existence of conditions subsequent and precedent affect the discharge of a contract?Discuss the effects of ratification in voidable contracts
- Determine whether the statement is legally correct (true) or not (false). Even where the contract has not been reduced to the required form, it is still valid and binding as far as the parties are concernedWhat exceptions are there to contracts that normally require a writing to be enforceable?What are the two basic methods of accounting for longtermconstruction contracts? Indicate the circumstancesthat determine when one or the other of these methodsshould be used.
- What is law of Indemnity? Explain the rights and duties of indemnifier and indemnity holder with appropriate examples.May an obligor be liable under an obligation subject to a suspensive condition although the condition has not yet been fulfilled? Explain.Explain the difference between commutative contract and non-commutative contract. Why Insurance is Non-Sharia compliant?
