A and B agree that A shall pay B Rs.1,000 for which B shall afterward deliver to A either rice or opium. What is the legal position of the contract?
Added by Zain U.
Step 1
The part of the contract that involves the sale of rice is legal. However, the part of the contract that involves the sale of opium is illegal, as opium is a controlled substance in many jurisdictions and its sale is often prohibited. In many legal systems, if a Show more…
Show all steps
Your feedback will help us improve your experience
Nick Johnson and 72 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
A, who knows that B has stolen goods amounting to Rs.500,000, receives Rs.100,000 from B in consideration of not exposing A. What is the legal position of the contract?
Nick J.
A dealer enters into an agreement to sell a smuggled item to X. import of such type of goods is illegal. A refuses to deliver the item as promised. What are the rights of X? a) sue the dealer for breach of a contract. b) wait till such imports become legal and then sue the dealer. c) it is a voidable contract. d) it is a void contract
Sanchit J.
Which of the following statements regarding contract terms is correct? A) Contract terms may be express or implied. B) Contract terms must be in writing to be effective. C) Contract terms must be reasonable. D) Contract terms are an aid for a court to interpret a business arrangement.
Crystal W.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD