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Ghanshyam and Afzal are good friends. They are traders and together keep on doing business transaction very often. In April 2016, they enter in a contract. Afzal has certain confidential information from his private sources about some change in prices that would affect Ghanshyam's willingness to proceed with the contract. As per Indian Contract Act, 1872, identify which of the following is applicable.

Ghanshyam and Afzal are good friends. They are traders and together keep on doing business transaction very often. In April 2016, they enter in a contract. Afzal has certain confidential information from his private sources about some change in prices that would affect Ghanshyam's willingness to proceed with the contract. As per Indian Contract Act, 1872, identify which of the following is applicable. Correct Answer Afzal is not bound to inform Ghanshyam about the change in price

Related Questions

Ghanshyam and Raju got their marks(out of 50 marks) in 4 subjects i.e English, Science, Maths and Social. The avg marks obtained by Raju is 38. The ratio of marks obtained by Raju and Ghanshyam in Maths is 5 ∶ 6 and the average marks obtained by Ghanshyam is 41. If the marks scored by both of them in English and Science is same and in Social Raju got 5 marks less than Ghanshyam. What is the marks scored by them in English and Science if Raju scored 40 marks in Social?
A and B being traders, entered upon a contract. A has private information of a change in prices which would affect B's willingness to proceed with the contract
B is A's daughter. A and B enter into a contract. A has private information of a change in price which would affect B's willingness to proceed with the contract. A did not give this information to B. State whether the contract
PRINCIPLES: 1. Nothing is an offence which is done in the exercise of the right of private defense.
2. When an act, which would otherwise be a certain offence, is not that offence, by reason of the youth, the want of maturity of understanding, the unsoundness of mind or the intoxication of that person or by reason of misconception on the part of that person, every person has the same right of private defense against that act, which he would have if that act were an offence.
3. Everyone has the right to defend their life and property against criminal harm provided it is not possible to approach public authorities and more harm than that is necessary has not been caused to avert the danger.
4. If in the exercise of right of private defense against an assault which reasonably causes the apprehension of death, the defender be so situated that he cannot effectually exercise that right without risk of harm to an innocent person, his right of private defense extends to the running of that risk.
5. The right of private defense continues as long as apprehension of danger continues.
FACT: A enters by night a house which he is legally entitled to enter. Z, in good faith, taking A for a housebreaker, attacks A.
A statement is given below in the question followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: Hindustan Unilever and Nestlé plan to selectively increase prices of their products to take into account higher crude oil and petrol costs, the rupee’s depreciation against the dollar and more expensive commodities such as wheat. If crude remains where it is and if the rupee has depreciated, of course, there are headwinds as far as costs are concerned. I. Nestlé India’s logistics providers are looking to renegotiate rates after record-high petrol and diesel prices. Nestlé declined to comment on when and by how much prices would increase.  II. Nestlé commented that HUL had dropped prices in November after the Goods & Services Tax was introduced last year and an increase in prices now would likely not hurt consumers.  III. Petrol prices have crossed Rs 90 a litre in Mumbai on increasing global prices of crude oil, of which India is a net importer, further impacted by the falling rupee. Crude derivatives, which are key inputs for FMCG companies, and petroleum derivatives used in packaging material including bottles and tubes, have also become more expensive.
Some textile traders also trade in iron. All the traders of iron are represented by R, the traders of clothes by T and all the traders by S, then which would be the most appropriate diagram to show their relationships?
Statements: Some friends are honest. Some women are honest. Some friends are not good. Conclusion: I. Some women are friends. II. Some friends are women. III. Some friends are good.
In a world filled with uncertainty, he was glad to have many good friends. He had always assisted them in times of need and was confident that they would reciprocate. However, the events of the last week proved him wrong. Which of the following inference(s) is/are logically valid and can be inferred from the above passage? (i) His friends were always asking him to help them. (ii) He felt that when in need of help, his friends would let him down. (iii) He was sure that his friends would help him when in need. (iv) His friends did not help him last week.
In a world filled with uncertainty, he was glad to have many good friends. He had always assisted them in times of need and was confident that they would reciprocate. However, the events of the last week proved him wrong. Which of the following inference(s) is/are logically valid and can be inferred from the above passage? (i) His friends were always asking him to help them. (ii) He felt that when in need of help, his friends would let him down. (iii)He was sure that his friends would help him when in need. (iv) His friends did not help him last week.
Which of the following is not an agreement in restraint of trade?
1. A sells the goodwill of his business with an agreement not to carry on a similar business within specified local limits, so long as the buyer carries on a similar business.
2. A sells the goodwill of his business with an agreement not to carry on a similar business within India, so long as the buyer carries on a similar business.
3. A sells the goodwill of his business with an agreement not to practice the same trade for 25 years.
4. A sells the goodwill of his business with an agreement not to engage in any business competing or liable to compete in any way with the business for the time being carried on by the buyer.