11th Standard Syllabus & Materials

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11th Standard English Medium Commerce Subject Performance of Contract Creative 2 Mark Questions with Solution Part - II

Published on: 26/06/2021

QB365 provides detailed and simple solution for every
Creative Questions in class 11 Commerce Subject. It will helps to get more idea about question pattern in every Creative questions with solution.

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.

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Std: 11th Standard - Commerce

chapter: - Creative Questions

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Questions:

Generic 2

4 x 2 = 8

What is meant by Appropriation of Payments?

What do you mean by appropriation of payments?

A, B, and C are under a joint promise to pay D Rs 3000. C is unable to pay anything. D sues A for the entire sum of Rs 3000. What are A's liability?

What are the different kinds of reciprocal promises?

Generic 3

1 x 3 = 3

What are the kinds of reciprocal promises?

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Answers Key:

Generic 2

4 x 2 = 8

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.
(i) Appropriation of payment
(ii) Application of payment where debt to be discharged is not indicated.
(iii) Application of payment where neither party appropriates.

Appropriation means application of payments.It arises when a debtor owes several debts to the same creditor and makes a payment that is not sufficient to discharge the whole indebtedness.

(i) Section 43 of the Indian Contract Act, 1872 provides that when two or more persons make a joint promise, the promisee may, in the absence of a contract to the contrary, compel any one or more of such joint promisors to perform the whole of the promise.
(ii) Thus, A shall be liable to pay the entire sum of Rs 3000 to D.

Reciprocal promises are of three types.
They are:
(i) Mutual and concurrent
(ii) Conditional and dependent
(iii) Mutual and independent

Generic 3

1 x 3 = 3

The kinds of reciprocal promises are:
(i) Mutual and Independent
(ii) Mutual and Dependent
(iii) Mutual and Concurrent