Contract Act- In the case of Mohori Bibee vs. Dharmodas Ghose the Privy Council expressly barred any person below the age of eighteen years to enter into a contract, and take major decisions in relation to the same. In Nash vs. Inman it was held that any contract with a minor is void and a minor may contract for necessaries but it will not be enforceable unless they are necessary for his life and he does not already have enough of it. If either of these things are disputed, the onus is on the plaintiff to prove them. Kedar Nath vs. Gorie Mohammad the Court held that an agreement without consideration is valid and binding if on the faith of the promise, the promisee takes definite steps in furtherance of the object. Damodar Murlidhar vs. Secretary of State of India it was that no one should be benefited at another's expense.
Consider a closed economy wherein
C = 0.8 Yd , t = 0.25 , I = 900 – 50i , G = 800, L = 0.25 Y – 62.5i , M/P = 500
Where in Yd = Di...
What is the optimal number of trips to bank such that cost of holding money is minimum, if the rate of interest foregone is 10% , income is 100 and the ...
If the R2 value for a regression line is 0.60 for 50 observations. What is the adjusted Rsquare value if the number of independent variabl...
Consider the following table
Balance of Trade is measured as:
The regression equation is Y = β1X1i + ui and following is the sample,
Calculate the value of VIF in case of Multicollinearity, if the Ri2(Coefficient of auxiliary regression on independent variables) is 0.60 and...
An analyst has data on wages for 100 individuals. The arithmetic mean of the log of wages is the same as:
Suppose that a firm has the cost function for a plant as given below
C(w, r, q) = 0.5q(w+r)
where q is output, w is the cost of labour l a...
The foreign capital investment in India on the eve of independence concentrated on the following sectors of the economy
(i) railways
...