Tuesday, March 13, 2012

BRF 2010 (Solved)


Free Consent
Section 13 defines consent as “Two or more persons are said to consent when they agree upon the same thing in the same sense.” Consent of the party’s means, the parties to a contract must mean the same thing in the same sense. It means ‘Consensus ad idem’. For e.g. A have 2 cars – Maruti 800 and Maruti Zen. A offers to sell the Maruti 800 while B accepts the offer thinking the car to be sold is Maruti Zen. Here there is no consent.
Free consent refers to consent which has been rendered by free will of the parties i.e. consent is voluntary. Section 10 of the Act, specifically states that a contract is valid and enforceable if it is made with the free consent of the parties.
Section 14 defines ‘Free Consent’ as – Consent is said to be free consent when it is not caused by –
                        (i) Coercion, as defined in Section 15, or
                        (ii) Undue influence, as defined in Section 16, or
                        (iii) Fraud as defined in Section 17, or
                        (iv) Misrepresentation as defined in Section 18, or
                        (v) Mistake, subject to the provisions of Sections 20, 21 and 22.

From the above definition, a consent of either party if obtained by any one of the above factors will result in flaw in the consent. 

Labels

Absorption Costing (1) Accountancy (4) accounting for partnership firms (3) Accounting for Share Capital (3) accounts of non trading concern (3) advanced financial accounting (14) AHSEC (108) ahsec 11 (47) ahsec 12 (60) ahsec notes (104) AHSEC Question Papers (33) Assam Slet (10) bcfm (11) bills of exchange (6) branch accounting (3) Budgetary Control (3) Budgetary Control Notes (2) business communication (28) Business Environment Notes (12) business regulatory framewrok (49) Business Statistics Notes (25) cash flow statement (5) cbse 12 (19) cbse notes (27) commerce (13) company law (23) corporate accounting (33) corporate laws (14) cost accounting (63) cost and management accounting (34) cpt (36) cpt 200 (7) cpt notes (30) dibrugarh university (1113) dibrugarh university notes (597) dibrugarh university question paper (454) dibrugarh university solved papers (225) dibrugarh university syllabus (47) direct tax law (49) eco - 01 (4) ECO - 02 (2) ECO - 03 (2) ECO - 05 (6) ECO - 06 (1) ECO - 07 (1) eco - 08 (4) eco - 09 (1) ECO - 10 (2) ECO - 11 (3) ECO - 12 (7) ECO - 13 (2) ECO - 14 (4) entrepreneurship (14) fianancial accounting (3) financial accounting (48) Financial Accounting Notes (15) financial management (18) Financial statements analysis (14) funds flow statement (3) guwahati university (289) guwahati university syllabus (52) Hire Purchase (5) Human Resource Management (11) icwai (38) icwai notes (39) ignou solved assignments (83) ignou solved question papers (121) income from house property (5) income from salary (4) Income Under the head Salaries (11) information technology (10) Installment Purchase (4) issue of shares (4) kkhsou (13) M.com (62) Management Accounting Notes (31) MCQ (11) paper I (1) paper II (9) paper III (1) principle of business mangement (16) Principles of Marketing Notes (16) royalty accounts (3) sale of goods act (8) semester I (151) Semester II (154) semester III (81) semester IV (149) semester V (111) semester VI (91) slet (13) Slet Ne (10) Small Business Management (7) solved assignments (22) UGC - NET: Commerce (08) (14) UGC - NET: Commerce (08) Paper II (3) UGC - NET: Commerce (08) Paper III (14) ugcnet solved question papers (23) Variance Analysis Notes (1)