Acceptance must be absolute & unqualified(Sec 7)
This query is : Resolved
13 January 2010
M offered to sell his land to N for 2 Lac. N replied suporting to accept the offer but enclosed a cheque of Rs.50 thousand only. He promised to pay the balance of Rs.150 Thousand by monthly instalments of 50 Thousand each. It was that N counld not enforce his acceptance because it was not an unqualified one.(Neale vs. Merret[1930] W.N.189]
Kindly let me know, what does unqualified mean?
Kindly let me know, what does unqualified mean?
14 January 2010
Unqualified means that the provisions or the procedure followed by the acceptor is not void ab intio, means that it is not breach of contract or is not contrary to the contract accepted, orin simple words is not contrary to the rpvosions of the law or is a qualified one, means the terms are not contrary to those stated in the contract and or the agreement entered into or it is fully valid and enforceable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
