List - I List - II A. Doctrine of Caveat Emptor I. Special Contract B. Bailment and Pledge II. Limited Liability Partnership C. Holder in due Course III. Sales of Goods Act D. DPIN IV. Negotiable Instrument
Matching Legal Concepts: List I and List II
This question requires matching concepts from List I with their corresponding legal principles or acts in List II.
Key Matches Explained
- A. Doctrine of Caveat Emptor: This principle, meaning "let the buyer beware," dictates that buyers are responsible for checking the quality and suitability of goods before purchase. It is a fundamental concept covered under the Sales of Goods Act. Thus, A matches with III.
- B. Bailment and Pledge: These involve the transfer of goods from one party to another with specific conditions for return or disposal. They are classified as types of Special Contracts. Thus, B matches with I.
- C. Holder in due Course: This refers to a person who acquires a negotiable instrument in good faith for value. This concept is central to the law governing Negotiable Instruments. Thus, C matches with IV.
- D. DPIN: Director's Personal Identification Number (now Director Identification Number - DIN) is required for individuals acting as directors. It is associated with company and business entity regulations, including those relevant to Limited Liability Partnership (LLP) formation and compliance. Thus, D matches with II.
Final Matching Result
Based on the explanations:
- A corresponds to III (Sales of Goods Act)
- B corresponds to I (Special Contract)
- C corresponds to IV (Negotiable Instrument)
- D corresponds to II (Limited Liability Partnership)
Therefore, the correct matching is A-III, B-I, C-IV, D-II.
Important Questions from Indian Contract Act, 1872
Which one is False as per the relevant provisions of the Indian Contract Act. 1872?
Which one is the correct sequence implied in the Indian Contract Act 1872?
(A) Offer of proposal
(B) Contract
(C) Promise
(D) Agreement
(E) Acceptance
Choose the correct answer from the options given below:
Statement I: Contracts whose objects or consideration are unlawful are void.
Statement II: Contracts in restraint of legal proceedings are void.
- What are the features of Income tax Return - 1 (Sahaj)
i. Tax payers whose total income does not exceed Rs.50 lakh during the F.Y, and income assessed under the head Salary
ii. Income tax from Salary, one house property, family pension, agriculture income upto Rs.5000 can be filed
iii. ITR-1 cannot be filed by any individual who has income from business or profession.
iv. ITR -1 Sahaj is also called as ITR -1 Sugam - Which statements are correct about the provisions of Sec 40 (B) Remuneration to partners ?
i. Remuneration is allowed to working and non working partners
ii. Must be authorised by partnership deed
iii. Maximum limit
a. If book profit is negative, in case of loss Rs.1,50,000
b. In case of book profit on the first Rs.3,00,000 of book profit-1,50,000 Or 90% book profit, whichever is higher. On the balance of the book profit - 60%
iv. Maximum rate of interest is 15%
