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

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
• In a contract of guarantee, a person who promises to discharge another’s liability is known as
• Because of supervening event, the promisor is excused from the performance of the contract. This is known as
• When a person has done some work under a contract and the other party repudiates the contract, then the party who performed the work can claim remuneration for the work done. This is based on the principle of
• The promises forming consideration for each other are called
• Where a party to contract transfers his rights under the contract to another person, it is legally known as
• A contract in which, under the terms of a contract, one or both the parties have still to perform their obligations in future is known as
• Where a contract has to be inferred from the conduct of parties, it is called
• Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:
• A person appointed to contract on behalf of another person is known as a/an