X' and 'Y' have jointly taken a loan from 'Z' with promise to repay the same with interest within two years. The loan is not repaid. 'Z' releases 'X' from liability and institutes a suit for recovery of the entire amount due from 'Y' alone. 'Z' in law is entitled to recover:
A. The entire outstanding from 'Y'
B. Z' having unilaterally released 'X' from the promise to repay has forfeited his right to recovery the loan amount from 'Y' also
C. Z' having unilaterally released 'X' is entitled to recover only 50% of the outstanding from 'Y'
D. Unilateral release by 'Z' of 'X' from liability is void and 'Z' can maintain a suit against both 'X' and 'Y'
Answer: Option A
This Question Belongs to Law >> Indian Contract Act
Indian Contract Act:- Gods displayed in showcase of a shop with price tag is -
A. Invitation to offer
B. Counteroffer
C. Communication
D. None of these
A. Is available to Y's representatives alone
B. Is available to Z alone
C. Is available to Y's representatives & Z both
D. Is available to Y's representatives & after the death of Z, his representatives
Moses v. Macferlan (1555-1774) is a case relating to
A. Theory of unjust enrichment
B. The right of lien
C. Test of agency
D. Doctrine of frustration
A. The active concealment of a fact by one having knowledge or belief of the fact
B. A promise made without any intention of performing it
C. The suggestion, as a fact, of that which is true, by one who does believe it to be true
D. None above
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