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Friday, January 11, 2008
Contract Act_Practicle Problems_66
X offers to sell a painting to Y which X knows is the copy of a well-known master piece. Y, thinking that the painting is the original one, decides to buy it at a very high price. Is this a valid contract?
According to Contract Act both the parties shall be competent to contract.Here Y is innocent and believed that the painting is original one. Therefore the this contract is Voidable.
According to Contract Act both the parties shall be competent to contract.Here Y is innocent and believed that the painting is original one.
ReplyDeleteTherefore the this contract is Voidable.