A promises to sell his horse to B. Before acceptance reaches A, the horse dies without the knowledge of either party. The legal position is:
Anonymous Quiz
10%
A. Valid Contract
25%
B. Void Contract
53%
C. Void Agreement due to Supervening Impossibility
12%
D. No Contract as acceptance becomes ineffective
❤1
Buy-back out of Free Reserves requires transfer to:
Anonymous Quiz
15%
A. General Reserve
51%
B. Capital Redemption Reserve
20%
C. Securities Premium
13%
D. Debenture Redemption Reserve
❤1
A company forfeits shares on which ₹80 has been paid. The shares are reissued for ₹30 fully paid.
Anonymous Quiz
22%
A. Valid
26%
B. Invalid
41%
C. Valid by Special Resolution
11%
D. Valid with Tribunal Approval
❤1
Control under SAST may exist:
Anonymous Quiz
6%
A. Only through Shareholding
19%
B. Only through Board Control
74%
C. Through Contractual Rights even below statutory shareholding thresholds
1%
D. Only after Open Offer
❤1
Materiality under LODR is judged primarily from the perspective of:
Anonymous Quiz
16%
A. Company
19%
B. Board
59%
C. Reasonable Investor
6%
D. Stock Exchange
❤1
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