Regarding company law
This query is : Resolved
mukeshyadav
(Querist)
24 August 2013
Mr.A is age of 16 year having asset worth of rs. 10 lac, he is taken loan from Mr. B to get admission in engineering college and he agreed with Mr. B that he shall return back the loan taken after 2 year.but after 2 Mr. A is default .Mr.B want to recover his loan by sale Mr.A's assets.
would Mr. B suceed to do so subject to the provision of contract Act........?
would Mr. B suceed to do so subject to the provision of contract Act........?
25 August 2013
This question never relates to Company Law but of Common Law.
If Mr B has advanced loan on oral assurance/terms then he cannot succeed.
If it was advanced on written terms and conditions then Mr B can do so if the written agreement is valid.
If Mr B has advanced loan on oral assurance/terms then he cannot succeed.
If it was advanced on written terms and conditions then Mr B can do so if the written agreement is valid.
mukeshyadav
(Querist)
27 August 2013
please send the provisions u/s 68, 69,72 of contract(quasi contract) act 1872. whether Mr. B is legally empowered to recover his loan amount.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
