Page 50 - DCOM103_COMMERCIAL_LAW

Unit 4: Consideration

12. A and B, two Hindu brothers, divided the family property between them and agreed at the Notes
time of partition that they should contribute a sum of ` 10,000 in equal shares and invest
it in the security of immovable property and pay the interacts towards the maintenance of
their mother. Can the mother compel her sons to have the amount invested as settled in her
favour?
[Hint: Yes (Dan Kuerv. Sarlo Deui, (1947) Bom. L.R. 123)].

13. P is a manufacturer of light bulbs. He advertises in the trade press that in future the retail
price of his bulbs will be ` 4 and that proceedings will be taken against any dealer not
observing this price. T buys a quantity of the bulbs from X, a wholesaler. Although T had
originally read the advertisement, he forgot its contents and retails the bulbs at ` 4.25.
Advise R.

Answers: Self Assessment
1. Illegal consideration 2. confl icts 3. Section 27
4. legal proceedings 5. Limitation Act, 1963

4.9 Further Readings

Books G. Vijayaragavan Iyengar (2007), Introduction to Banking, Excel Books, New Delhi,
India.
S.S. Gulshan, Business Law, Third Edition, 2006, Excel Books, New Delhi.
S.S. Gulshan, Mercantile Law, Third Edition, 2006, Excel Books, New Delhi.

Online links http://lawcommissionofi ndia.nic.in/1-50/Report13.pdf
http://business.gov.in/manage_business/contract_law.php

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