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Past voluntary service If a person renders voluntary services without any request or promise from another and the person receiving the services makes a promise to pay for the services, then such a promise is enforceable in India under Section 25(2) of the Indian Contract Act, 1872 which states: ‘‘An agreement made without consideration is void unless it’s a promise to compensate, wholly or in part, a person who has already voluntarily done something for the promisor, or something which the promisor was legally compellable to do; or unless.’’ For Example - Peter finds Noah’s wallet on the road. He returns it to him and Noah promises to pay Peter Rs 500. This is a valid contract under the Indian Contracts Act, 1872.
Which of the following statements is not true regarding CRISIL ?
Consider the following Utility function U(x,y) = 4x+5y. The price of x and y are 5 and 6 respectively. The income of the consumer is 120. Calculate the ...
An economist calculated the cross-price elasticity of demand for nicknacks and gizmos and got -0.5. What can she conclude about the relationsh...
When the slope of average cost is positive then which of the following holds
Which of the following statements about contingent valuation is correct?
Which of the following is a property of a normal distribution?
A country Kaishala imposes a 10% tariff on imported vehicles but no tariff on imports of machinery or other inputs to the manufacture of vehicles. Suppo...
Which of the following is a possible change in total revenue that occurs if you increase the price of a good with unit elasticity?
In which of the following case , the production cost curves shifts downward?