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Question

A and B go into a shop. A says to the shopkeeper, "Let B have the goods, I will see that it is paid for". This is _____.


A
Contract of Guarantee
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B
Contract of Indemnity
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C
Contract of Specific performance
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D
Contract of Wagering
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Solution

The correct option is D Contract of Specific performance
A contract is an agreement upon sufficient consideration to do or not to do a particular act. The party on whom this contractual obligation rests must not fails to discharge such obligation. In case of his failure, the other party will have a right sue for performance of the contract. This is called ‘Specific Performance’. Orders of specific performance are granted when damages are not an adequate remedy, and in some specific cases such as land sale.

Accountancy

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