BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A Stipulation essential to the main purpose of the contract is called ____
A
Warranty
B
Condition
C
Sale
D
Contract
Explanation: 

Detailed explanation-1: -(2) A condition is a stipulation essential to the main purpose of the contract, the breach of which gives rise to a right to treat the contract as repudiated.

Detailed explanation-2: -A condition is a requirement or limitation involved in a contract, trust, law, or other legally recognized document that changes the rights and duties of those involved.

Detailed explanation-3: -The condition is a fundamental precondition on the basis of which the whole contract is based upon, on the other hand, warranty is the written guarantee wherein the seller commits to repair or replace the product in case of any fault in the product.

Detailed explanation-4: -A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be either condition or warranty. A condition is a stipulation which is very important to determine the main purpose of the contract.

Detailed explanation-5: -The Sale of Goods Act enumerates an implied Warranty that the buyer shall have complete possession of the goods sold to him and shall enjoy quite possession of the such goods. In case of any kind of disturbance, the buyer can sue the seller for the breach of Warranty and can claim damages arising out of such breach.

There is 1 question to complete.