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Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 30 Performance of Contract Notes

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Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 30 Performance of Contract Notes
Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 30 Performance of Contract Notes


Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download: Students of class can download the Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download from our website. We have uploaded the Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract notes according to the latest chapters present in the syllabus. Download Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Chapter Wise Notes PDF from the links provided in this article.


Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF Download

We bring to you specially curated Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF which have been prepared by our subject experts after carefully following the trend of the exam in the last few years. The notes will not only serve for revision purposes, but also will have several cuts and easy methods to go about a difficult problem.


Board

Tamilnadu Board

Study Material

Notes

Class

Samacheer Kalvi 11th Commerce

Subject

11th Commerce

Chapter

Chapter 30 Performance of Contract

Format

PDF

Provider

Samacheer Kalvi Books

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Download Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Chapterwise Notes PDF

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I. Choose the Correct Answer

Question 1.
On the valid performance of the contractual obligations by the parties, the contract
a. Is discharged
b. Become enforceable
c. Becomes void
d. Becomes legal
Answer:
a. Is discharged

Question 2.
Which of the following persons can perform the contract?
a. Promisor alone
b. Legal representatives of promisor
c. Agent of the promisor
d. All the above
Answer:
d. All the above

Question 3.
A, B, C jointly promised to pay Rs.50,000 to D. Before performnce of the contract, C dies. Here, the contract
a. Becomes void on C’s death
b. Should be performed by A and B along with C’s legal representatives.
c. Should be performed by A and B alone.
d. Should be renewed between A, B and D.
Answer:
b. Should be performed by A and B along with C’s legal representatives.

Question 4.
Which of these parties cannot demand performance of promise?
a. Promisee
b. Any of the Joint Promisees
c. On the death of a Promisee, his Legal Representative.
d. Stranger to the Contract
Answer:
d. Stranger to the Contract

Question 5.
A person is said to be a third person if he is not a
a. promisor
b. promise
c. agent
d. Legal Representative
Answer:
c. agent

II Very Short Answer Questions

Question 1.
State the ways of Performing a Contract.
Answer:
There are mainly two ways of performing a contract such as:

  1. Actual Performance
  2. Attempted Performance

Question 2.
Who is a Legal Representative?
Answer:
A person who oversees the legal affairs of another. Examples: The executor or administrator of an estate and a court-appointed guardian of a minor or incompetent person.

Question 3.
Who is an agent?
Answer:
According to Para 2 of Section 40, the promisor may employ a competent person such as an agent to perform the promise if the contract is not formed on personal condition.

Question 4.
Define Reciprocal Promise.
Answer:
Promises which form consideration or part of the consideration for each other are called ‘reciprocal promise’.

Question 5.
By whom must contracts be performed?
Answer:

  1. Promisor himself
  2. Agent
  3. Representations
  4. Third-person
  5. Joint Promisors

III. Short Answer Questions

Question 1.
What is a Valid tender?
Answer:
The tender which is in proper form, which contains the whole obligation and must not be in installments, which is unconditional is said to be a valid tender.

Question 2.
Who can execute and Perform a Contract?
Answer:
Promisor himself – Under Para 1 to Section 40, it is laid down that where it appears from the nature of the contract, the intention of the parties that any promise contained in it must be performed by the promisor himself or by his legal representatives or by any other competent person employed by him.

Question 3.
Who can demand performance?
Answer:
The following are those who can demand the performance of a valid contract:

  • Promise
  • Legal Representative
  • Third-Party

Question 4.
Write a note on the benefits of Reciprocal Promise.
Answer:
Meaning:
Promises which form the consideration or part of the consideration for each other are called reciprocal promises.
Benefits of Reciprocal Promise:

  • Since both the parties are working simultaneously, there is no chance of losses.
  • Each party are performing their promises independently to make the promise a successful one.
  • There is no loss raised due to lack of time.

Question 5.
Who is a Joint Promisors?
Answer:
Joint Promisors:
(a) Devolution of Joint Liabilities (Section 42)
Section 42 of Indian Contract Act lays down that “When two or more persons have made a joint promise, then unless a contrary intention appears in the contract, all such persons, during their joint lives and after the death of the last survivor, representatives of all, jointly must fulfil the promise”

(b) Devolution of Joint Rights (Section 45)
“When a person has made a promise to two or more persons jointly, then unless there is a contract to the contrary, the right to claim performance rests as between him and them, with them during their joint lives and after the death of them with representatives of such deceased person jointly with survivors, and after the death of last survivor, with the representatives of all jointly”.

IV Long Answer Questions

Question 1.
Explain rules relating to place of performance of promise:
Under Section 47, specified time and place for performance: If the promise is to be performed on a certain day, the promisor may undertake to perform it without application of the promisee.

According to Section 47, In such a case the promisor may perform the promise at any time during the usual hours of business on such day and at the place at which the promise ought to be performed.

Question 2.
Elucidate the provision regarding time as a factor in performance.
Answer:
1. Under Section 46, performance within a reasonable time:
According to Section 46, a promisor is to perform his promise within a reasonable time. On the other hand, a reasonable time will depend upon the circumstance of the case, the usage of trade or on the intention of the parties entering into the contract.
Example: A has given an order of supply of books in July which should be performed within 4 to 5 days of the month of July.

2. Under Section 47, specified time and place for performance:
If the promise is to be performed on a certain day, the promisor may undertake to perform it without application of the promisee. According to Section 47, In such a case the promisor may perform the promise at any time during the usual hours of business on such day and at the place at which the promise ought to be performed.

Question 3.
How do you think appropriation of payments takes place?
Answer:
Appropriation means application of payments The question of appropriation of payments arises when a debtor owes several debts to the same creditor and makes a payment that is not sufficient to discharge the whole indebtedness.
Appropriation of Payments:
Sometimes, a debtor owes several distinct debts to the same creditor and he makes a payment which is insufficient to satisfy all the debts. In such a case, a question arises as to which particular debt the payment is to be appropriated. Section 59 to 61 of the Act lay down the following rules as to appropriation of payments which provide an answer to this question. Therefore, where the debtor expressly states that the payment is to be applied to the discharge of a particular debt, the payment must be applied accordingly.

Application of payment:
Where debt to be discharged is not indicated [60] If section 60 is attracted, the creditor shall have the discretion to apply such payment for any lawful debt which is due to him from the person making the payment.

Application of payment:
Where neither party appropriates [61] The payment shall be applied in discharge of the debts in order of time whether they are or are not based by the limitation Act 1963 if the debt is of equal standing (i.e. payable on the same date) the payment shall be applied in discharge of each of this debt proportionately.

11th Commerce Guide Performance of Contract Additional Important Questions and Answers

I. Choose the Correct Answer:

Question 1.
Every promise and every set of promises, forming the consideration for each other is an
a. agreement
b. contract
c. offer
d. acceptance
Answer:
a. agreement

Question 2.
When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such act or abstinence or promise under section 2(d) is called
(a) Reciprocal promise
(b) consideration for the promise
(c) counteroffer
(d) acceptance
Answer:
(b) consideration for the promise

Question 3.
Promises which form the consideration or part thereof, for each other under section 2(F) are called
(a) acceptances for different proposals
(b) agreements
(c) reciprocal promises
(d) consideration
Answer:
(c) reciprocal promises

Question 4.
In a valid contract, what comes first
a. enforceability
b. acceptance
c. promise
d. proposal
Answer:
a. enforceability

Question 5.
The void agreement signifies ………..
a. agreement illegal in nature
b. agreement not enforceable by law
c. agreement violating legal procedure
d. agreement against public policy
Answer:
b. agreement not enforceable by law

II. Very Short Answer Questions:

Question 1.
What do you mean by the appropriation of payments?
Answer:
Appropriation means the application of payments. It arises when a debtor owes several debts to the same creditor and makes a payment that is not sufficient to discharge the whole indebtedness.

Question 2.
What is the nature of the third person with regard to the performance of the contract?
Answer:
According to Section 41, if a promisee accepts the performance of the promise by a third person he cannot afterward enforce it against the promisor.

III. Short Answer Questions:

Question 1.
Explain the ways of performing a contract:
Answer:
There are mainly two ways of performing a contract such as:

  1. Actual Performance: When the party has done what he had undertaken to do, it is called actual performance. In actual performance, the party is to fulfill all his obligations under the contract.
  2. Attempted Performance: When the party offers to perform his obligation, it is not accepted by the promisee. A valid tender of performance is considered to be the performance of a promise.

Question 2.
Explain the term Devolution of Joint Rights:
Answer:
According to section 45 of Indian Contract, Act Devolution means, “When a person has made a promise to two or more persons jointly, then unless there is a contract to the contrary. the right to claim performánce rests as between him and them, with them during their joint lives: and after the death of them with representatives of such deceased person jointly with survivors, and after the death of’ last survivor, with the representatives of all jointly”.

IV. Long Answer Questions

Question 1.
State the essentials of a valid tender of performance:
Answer:
A tender, to be valid, must satisfy the following essential requirements

  • It must be unconditional
  • It must be for the whole obligation and must not be in installments if the contract requires in full. It must be by a person who is in a position and willing to perform the promise.
  • It must be at the proper time and place.
  • It must be in proper form.
  • It must be made to a proper person i.e. to the promisee or his authorized agent.
  • In case of the tender of goods, the promisee must be given a reasonable opportunity to inspect the goods.
  • It may be made to one of the several joint promisees.

Question 2.
Explain the types of Reciprocal Promises:
Answer:

  1. Mutual and Indepéndent: Where each party must perform his promise independently without the performance of the other, the promise is mutual and independent, For example, Ramu agrees to pay Somu the amount for the rice supplied on 10th June. Some promises to deliver rice on 18th June.
  2. Mutual and Dependent: Where the performance of the promise by one party depends upon the prior performance of the promise by the other party, the promises are conditional and dependent.
  3. For example, A agrees to construct a building for B. B agrees to supply cement for the construction. Hence A’s promise to perform depends on B’s promise.
  4. Mutual and Concurrent: Where the two promises are said to be performed simultaneously, they are said to be mutual and concurrent.

How to Prepare using Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF?

Students must prepare for the upcoming exams from Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes PDF by following certain essential steps which are provided below.


  • Use Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract notes by paying attention to facts and ideas.
  • Pay attention to the important topics
  • Refer TN Board books as well as the books recommended.
  • Correctly follow the notes to reduce the number of questions being answered in the exam incorrectly
  • Highlight and explain the concepts in details.


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How to use Samacheer Kalvi 11th Commerce Chapter 30 Performance of Contract Notes for preparation??

Read TN Board thoroughly, make separate notes for points you forget, formulae, reactions, diagrams. Highlight important points in the book itself and make use of the space provided in the margin to jot down other important points on the same topic from different sources.

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