If a person accepts a lesser sum of money than what was contracted for, in the discharge of the whole debt, it is known as

Related MCQs

• A contract in which a person promises to discharge the liability of another person, in case of default by such person, is known as a
• Where money is exchanged by one person for some money with another person, the transaction is known as
• The delivery of goods by one person to another as a security for the repayment of a debt is known as a
• In a contract of guarantee, a person who promises to discharge another’s liability is known as
• A contract in which one person promises to compensate the other for the loss suffered by him, due to the conduct of the promisor or of any other person, is known as
• A person appointed to contract on behalf of another person is known as a/an
• Any person who on behalf of another person receives, stores or transmits a message is, under the IT Act, known as
• Under the pledge, the person who pledges is known as a pledgor and the bailee is known as a
• Under the pledge, the person who pledges is known as a pledgor and the bailee is known as a
• Claim for necessaries supplied to a person incompetent to contract, from the property of such person. It is covered under the concept of