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11th Standard English Medium Commerce Subject Discharge and Breach of a Contract Creative 2 Mark Questions with Solution Part - I

Published on: 26/06/2021

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Creative Questions in class 11 Commerce Subject. It will helps to get more idea about question pattern in every Creative questions with solution.

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Std: 11th Standard - Commerce

chapter: - Creative Questions

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Questions:

Generic 2

5 x 2 = 10

Describe the types of damages.

What is meant by Lapse of Time?

What is the rule of impossibility of performance?

What are all the types of performance of contract?

What do you mean by discharge of a contract?

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Answers Key:

Generic 2

5 x 2 = 10

There are mainly four types of damages, such as
(i) Ordinary damages
(ii) Special damages
(iii) Vindictive or exemplary damages and
(iv) Nominal damages

According to the Limitation Act, 1963 a contract must be performed within a specified time. If it is not performed within this specified time limit and against which if no action is taken by the promisee in the Court of Law within, specified time, then the promisee is deprived of his remedy at law. In such cases, the contract is discharged.

The rule of impossibility of performance is based on the following maxims.
(i) The law does not recognize what is impossible and
(ii) What is impossible does not create an obligation.

Performance of contract is under two types namely, Actual Performance and Attempted Performance.

Discharge of contract implies termination of the contractual relationship between the parties. A contract is discharged if it ceases to operate and when the rights and obligations created by it come to an end.