INTERVIEW QUESTIONS MERCANTILE LAW CONSIDERATION DETAILS

Question: A who was badly in need of money offered to sell his piano worth Rs. 8500 to B for Rs. 5,000. B refused to buy. A gradually lowered his price until Rs. 2,500 was reached, which B accepted. Before the piano was delivered A received an offer of a larger sum from X and he refused to carry out the contract with B claiming that the consideration was inadequate. Is A liable topay damages to B for failure to carry out his part of contract?
(a) No, as the consideration was inadequate A cancelled the contract.
(b) Yes, A is liable to pay damages to B for failure to carry out his part of the contract.
(c) No, as the contract was made due to Undue Influence.
(d) Any of the above

Answer: (c) Yes, A is liable to pay damages to B for failure to carry out his part of the contract.
Description: The offer of A to sell the piano at Rs. 2,500 was duly accepted by B which resulted into a contract. Now if A will refuse to sell the piano to B he will be liable for damage as he committed a breach of contract.

(c) Yes, A is liable to pay damages to B for failure to carry out his part of the contract.
Description: The offer of A to sell the piano at Rs. 2,500 was duly accepted by B which resulted into a contract. Now if A will refuse to sell the piano to B he will be liable for damage as he committed a breach of contract. Source: CoolInterview.com

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