CPT Law Difficult Questions

In this Webinar Bharat has taken below questions submitted by students.

Difference between Civil, Criminal & Mercantile Law
When does the property in goods transfer from seller to buyer ?
What is Void and Voidable?still i have many confusions after many readings about that.also please explain about the performance of contracts?, sir please.
Difference between right of lien and right of stoppage in transit
Difference between Act 'act is exclusive' 'act is inclusive'
how to study law ? guide me da best tip 2 clear my law subject for cpt exam
Contingent Contract & Performance of contract
Difference between maintenance and champerty
Performance and Discharge of a contract
Difference between discharge of contract and breach of contract
Cross offer is____(a)valid (b)invalid
Consideration must move at the desire of____ (a)promisor (b)promisee (c)third person (d)all the above
Which is true?(a)All agreements are contracts (b)All contracts are agreements
Is physical delivery of goods essential in sale of goods act?
In case of legal agreement collateral agreements are void or valid?
Is remembering Sections and case laws compulsory?
Acceptance must be communicated and acceptance may be implied as well. Arent these sentences contradictory?
Doesnt betting depend on contingency? If yes, then why is it not a contingent contract?
Can explain past consideration with examples?
What is intention to create a legal relationship?
How are offer & Invitation to offer different?
What is anticipatory breach?
when a partner deals with immovable property, it is within ________ authority of firm? (express/implied/emergency)
Stranger to contract vs Stranger to consideration
In an auction sale the auctioneer hits the hammer on the table, a vase which was the subject matter falls and breaks. who should bear the risk?

Disqualified from entering into Contract

As per Indian Contract Act 1872, One has to be competent before he can enter into a contract.

Who is competent to contract

Every Person who :

(a) Attained Majority

(b) Of sound mind

Following are disqualified to enter into contract:

Convicts
Insolvent Person
Alien enemy
Foreign Sovereigns & Ambassadors
Company going Ultra Vires it's memorandum
Pardanashin Women

Capacity to contract- Persons Disqualified to contract from meraskill

Visit to see full course:https://www.meraskill.com/ca-cpt/law/other-essential-elements-of-a-contract

Positive and Negative Consideration

Section 2(d) of Indian Contract Act 1872 defines consideration as "When at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing or promises to do or abstain from doing something, such an act or abstinence or promise is called consideration for the promise"

Positive Consideration is :

Gain from Contract
Benefit from Contract
What you get from a contract

Negative Consideration is :

Loss from Contract
Disadvantage from Contract
Detriment from a contract

Positive and negative consideration from meraskill

Why do we Revalue Asset on Admission of New Partner

New Partner should not get past profit

New partner joins for future profit.

All profit till date has to accrue to existing partners.

Hence all assets and liabilities are revalued to current value.

All loss or profit are transferred to existing partners capital a/c.

For above reasons existing partners are compensated for loss of share of profit.

Why revaluation on admission of partner from meraskill

Visit for full course:http://www.meraskill.com/ca-cpt/accounts/partnership-admission-retirement-death

MCQ Question Mar15-CPT,CS Foundation and CMA Foundation Exam.

1.Proprietor used the rented building both for business purpose and as well for personal purpose equally.
The rent actually paid during the year for the building was ₹ 1,32,000 debited to Rent expenses in the books of the business. One month rent is still outstanding. Liability of the business for outstanding rent is:

(a) ₹ 11,000
(b) ₹ 12,000
(c) ₹ 5,500
(d) ₹ 6,000

2.X agrees to pay 'Y' ₹ 5,000 if Y delivers a judgement in his favour in a suit. 'Y' does so but X refuses to pay any money. In this context which one of these gives the correct legal position of the agreement?

(a)The agreement is void being opposed to public policy
(b)The agreement is valid and enforceable
(c)The agreement is voidable at the option of 'Y'
(d)The agreement is void because the object is unlawful, forbidden by law

3.An agreement in restraint of legal proceedings is void. It does not cover an agreement which :

(a)Cuts short the period of limitation
(b)Restricts absolutely the parties from enforcing their legal rights
(c)Discharges a party from liability or extinguishes the rights of a party
(d)Provides for a reference to arbitration instead of court of law

4. A promissory note does not require:

(a) Noting
(b) Discounting
(c) Acceptance
(d) None of the above

Take Chapter wise Quiz- http://www.meraskill.com/cpt-question-paper

Answer -1d,2a,3d,4c

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