11th Standard Syllabus & Materials
11th Standard
Tamilnadu 11th Standard Tamil மொழி கலை -செய்யுள் - ஒவ்வொரு புல்லையும் Important Questions And Answers Study Material - QB365
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Tamilnadu 11th Standard Tamil கேடில் விழுச்செல்வம் - உரைநடை - தமிழகக் கல்வி வரலாறு Important Questions And Answers Study Material - QB365
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - இலக்கணம் - பகுபத உறுப்புகள் Important Questions And Answers Study Material - QB365
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - செய்யுள் - குறுந்தொகை Important Questions And Answers Study Material - QB365 Set B
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - செய்யுள் - குறுந்தொகை Important Questions And Answers Study Material - QB365 Set A
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - செய்யுள் - காவடிச்சிந்து Important Questions And Answers Study Material - QB365 Set B

Published on: 12/09/2019
Performance of Contract
Download Tamil Nadu 11th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Commerce Test1.
A person is said to be a third person if he is not a ____________
Promisor
Promise
Agent
Legal representative
2.
A, B, C jointly promised to pay Rs. 50,000 to D. Before performance of the contract, C dies. Here, the contract ______________
Becomes void on C's death
Should be performed by A and B along with C's legal representatives.
Should be performed by A and B alone
Should be renewed between A, B and D
3.
On the valid performance of the contractual obligations by the parties, the contract ____________
Is discharged
Become enforceable
Becomes void
Becomes legal
4.
By whom must contracts be performed?
5.
Who is an Agent?
6.
State the ways of Performing a Contract?
7.
Who is a Joint Promisors?
8.
What is a valid tender?
9.
How do you think appropriation of payments takes place?
10.
Explain rules relating to place of performance of promise
1.
(c)
Agent
2.
(b)
Should be performed by A and B along with C's legal representatives.
3.
(a)
Is discharged
4.
1. the promisor himself
2. agent
3. representatives
5.
According to Para 2 of Section 40, the promisor may employ a competent person such as agent to perform the promise, if the contract is not formed on personal condition. That person is called an agent.
6.
There are mainly two ways of performing a contract such as:
1. Actual performance
2. Attempted performance
7.
Those persons who have made a joint promise, then unless a contrary intention appears in the contract, all such persons, during their joint lives and after the death of the last survivor, representatives of all, jointly must fulfil the promise are called joint promisors.
Benefits:
1. The promises are mutual. So both the parties are benefited.
2. Reciprocal promises maybe independent (or) dependent (or) concurrent. So flexibility will be there.
8.
A valid tender of performance is considered to be the performance of a promise.
9.
Appropriation means application of payments-The question of appropriation of payments arises when a debtor owes several debts to the same creditor and makes a payment that is not sufficient to discharge the whole indebtedness.
1. Appropriation of Payments:
1. Sometimes, a debtor owes several distinct debts to the same creditor and he makes a payment which is insufficient to satisfy all the debts.
2. In such a case, a question arises as to which particular debt the payment is to be appropriated.
3. Section 59 to 61 of the Act lay down following rules as to appropriation of payments which provide an answer to this question.
2. Appropriation as per express instructions:
1. Every debtor who owes several debts to a creditor has a right to instruct his creditor to which particular debt, the payment is to be appropriated or adjusted.
2. Therefore, where the debtor expressly states that the payment is to be applied to the discharge of a particular debt, the payment must be applied accordingly.
3. For Example X owes Y three distinct debts of Rs.20,000, 30,000 and 50,000. A sends Rs.50,000 and instructs Y that the payment should be appropriated against the third debt. He is bound to appropriate the payment against the third debt only.
3. Application of payment where debt to be discharge is not indicated [60]:
1. If section 60 is attracted, the creditor shall have the discretion to apply such payment for any lawful debt which is due to him from the person making the payment.
2. For Example P owes to Q, among other debts, the sum of Rs.10,000. Q writes to P and demands payment of this sum. P sends to Q Rs. 10,000. This payment is to be applied to the discharge of the debt of which Q had demanded payment.
4. Application of payment where neither party appropriates [61]:
The payment shall be applied in discharge of the debts in order of time whether they are or are not based by the limitation Act 1963, if the debt are of equal standing (i.e. payable on the same date) the payment shall be applied in discharge of each of these debt proportionately.
10.
It is only the promisee for whom the contract is performed. Only the promisee can demand the performance of the promise under a contract. For Example: X promises Y to pay Z Rs. 10,000/. X does not pay the sum to Z. Here Z cannot bind X for the payment. It is only promisee Y who can enforce the promise against the promisor X.
Of course, there are certain special cases, where a third party can enforce a promise though he is not a party to the contract For example in respect of trust, marriage settlement, etc. In case of death of promisee, the representative appointed by him can ask for the performance of the promise under a contract.
11th Standard Syllabus & Materials
11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - செய்யுள் - காவடிச்சிந்து Important Questions And Answers Study Material - QB365 Set A
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - உரைநடை - மலை இடப்பெயர்கள் : ஓர் ஆய்வு Important Questions And Answers Study Material - QB365 Set B
NEW11th Standard
Tamilnadu 11th Standard Tamil பீடு பெற நில் - உரைநடை - மலை இடப்பெயர்கள் : ஓர் ஆய்வு Important Questions And Answers Study Material - QB365 Set A
NEW11th Standard
Tamilnadu 11th Standard Tamil மாமழை போற்றுதும் - செய்யுள் - ஐங்குறுநூறு Important Questions And Answers Study Material - QB365 Set B
Tamilnadu Stateboard 11th Standard Subjects

Maths

Commerce

Economics

Biology

Business Maths and Statistics

Accountancy

Computer Science

Physics

Chemistry

Maths

Biology

Economics

Physics

Chemistry

History

Business Maths and Statistics

Computer Science

Accountancy

Computer Applications

History

Computer Technology

Commerce

Computer Applications

Computer Technology

Tamil

English

French
Tamilnadu Stateboard Standards