Samacheer Kalvi 11th Commerce Solutions Chapter 30 Performance of Contract

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Samacheer Kalvi 11th Commerce Solutions Chapter 30 Performance of Contract

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Samacheer Kalvi 11th Commerce Performance of Contract Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
On the valid performance of the contractual obligations by the parties, the contract ………………..
(a) Is discharged
(b) Become enforceable
(c) Becomes void
(d) Becomes legal
Answer:
(a) Is discharged

Question 2.
Which of the following persons can perform the contract?
(a) Promisor alone
(b) Legal representatives of promisor
(c) Agent of the promisor
(d) All the above
Answer:
(d) All the above

Question 3.
A, B, C jointly promised to pay Rs.50,000 to D. Before the performance of the contract, C dies. Here, the contract ………………..
(a) Becomes void on C’s death
(b) Should be performed by A and B along with C’s legal representatives.
(c) Should be performed by A and B alone.
(d) Should be renewed between A, B, and D.
Answer:
(b) Should be performed by A and B along with C’s legal representatives.

Question 4.
Which of these parties cannot demand performance of promise?
(a) Promisee
(b) Any of the Joint Promisees
(c) On the death of a Promisee, his Legal Representative.
(d) Stranger to the Contract
Answer:
(d) Stranger to the Contract

Question 5.
A person is said to be a third person if he is not a ………………..
(a) promisor
(b) promise
(c) agent
(d) Legal Representative
Answer:
(c) agent

II. Very Short Answer Questions

Question 1.
State the ways of Performing a Contract.
Answer:
There are mainly two ways of performing a contract such as:

  1. Actual Performance
  2. Attempted Performance

Question 2.
Who is a Legal Representative?
Answer:
A legal representative can demand Exception performance. The contrary intention appears from the contract. The contract is of a personal nature.

Question 3.
Who is an agent?
Answer:
According to Para 2 of Section 40, the promisor may employ a competent person such as an agent to perform the promise if the contract is not formed on personal condition.

Question 4.
Define Reciprocal Promise.
Answer:
Promises which form consideration or part of the consideration for each other are called ‘reciprocal promise’.

Question 5.
By whom must contracts be performed?
Answer:

  1. Promisor himself
  2. Agent
  3. Representations
  4. Third-person
  5. Joint Promisors

III. Short Answer Questions

Question 1.
What is a Valid tender?
Answer:
A valid tender of performance is considered to be the performance of a promise.

Question 2.
Who can execute and Perform a Contract?
Answer:
Promisor himself – Under Para 1 to Section 40, it is laid down that where it appears from the nature of the contract, the intention of the parties that any promise contained in it must be performed by the promisor himself or by his legal representatives or by any other competent person employed by him.

Question 3.
Who can demand performance?
Answer:

  1. Promisee – only a promisee can demand performance and not a stranger demand performance of the contract.
  2. Legal Representative – legal representative can demand Exception performance. The contrary intention appears from the contract. The contract is of a personal nature.
  3. Third-party – Exception to “stranger to a contract”.

Question 4.
Write a note on the benefits of Reciprocal Promise.
Answer:
Promises which form consideration or part of the consideration for each other are called ‘reciprocal promise’. For example, X promises to sell his house to Y for Rs.5,00,000. The promises are reciprocal. X is the promisor to give the house and a promise to receive Rs.5,00,000. Y is the promise to receive the house and a promisor to pay Rs. 5,00,000.

Question 5.
Who is a Joint Promisors?
Answer:
Joint Promisors:
(a) Devolution of Joint Liabilities (Section 42)
Section 42 of the Indian Contract Act lays down that “When two or more persons have made a joint promise, then unless a contrary intention appears in the contract, all such persons, during their joint lives and after the death of the last survivor, representatives of all, jointly must fulfill the promise”

(b) Devolution of Joint Rights (Section 45)
“When a person has made a promise to two or more persons jointly, then unless there is a contract to the contrary, the right to claim performance rests as between him and them, with them during their joint lives and after the death of them with representatives of such deceased person jointly with survivors, and after the death of the last survivor, with the representatives of all jointly”.

IV. Long Answer Questions

Question 1.
Explain rules relating to place of performance of the promise.
Answer:
Time and place of Performance of Promise:
It is only the promisee for whom the contract is performed. Only the promisee can demand the performance of the promise under a contract.

For Example:
X promises Y to pay Z ₹ 10,000/-. X does not pay the sum to Z. Here Z cannot bind X for the payment. It is only promisee Y who can enforce the promise against the promisor X. Of course, there are certain special cases, where a third party can enforce a promise though he is not a party to the contract For example in respect of trust, marriage settlement etc. In case of death of promisee, the representative appointed by him can ask for the performance of the promise under a contract.

Question 2.
Elucidate the provision regarding time as a factor in performance.
Answer:
1. Under Section 46, performance within a reasonable time:
According to Section 46, a promisor is to perform his promise within a reasonable time. On the other hand, a reasonable time will depend upon the circumstance of the case, the usage of trade or on the intention of the parties entering into the contract.
Example: A has given an order of supply of books in July which should be performed within 4 to 5 days of the month of July.

2. Under Section 47, specified time and place for performance:
If the promise is to be performed on a certain day, the promisor may undertake to perform it without application of the promisee. According to Section 47, In such a case the promisor may perform the promise at any time during the usual hours of business on such day and at the place at which the promise ought to be performed.

Question 3.
How do you think appropriation of payments takes place?
Answer:
Appropriation means the application of payments – The question of appropriation of payments arises when a debtor owes several debts to the same creditor and makes a payment that is not sufficient to discharge the whole indebtedness.

Appropriation of Payments: Sometimes, a debtor owes several distinct debts to the same creditor and he makes a payment which is insufficient to satisfy all the debts. In such a case, a question arises as to which particular debt the payment is to be appropriated. Section 59 to 61 of the Act lay down following rules as to appropriation of payments which provide an answer to this question.

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