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Unit 2: Offer and Acceptance





          6.   Comment: (i) “Acceptance must be absolute and qualified”? (ii) “A mere mental acceptance   Notes
               is no acceptance”. (iii) “Acceptance must be according to the mode prescribed by the
               offeror”? (iv) “A mere mental acceptance not evidenced by words or conduct is in the eye
               of law no acceptance”.
          7.   Discuss the rules regarding communication of offer and acceptance.
          8.   “A stranger to a contract cannot maintain a suit”. Discuss.

          Answers: Self Assessment

          1.   implied                           2.  prospective shareholder
          3.   Acceptance                        4.  decline

          5.   contingent contract               6.  ‘Quasi Contracts’
          7.   claim                             8.  payment of money
          9.   non-gratuitous                    10.  ‘quantum meruit’

          2.13 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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