Significance of penalty clauses in contract


Question 1:

What are the components essential to validity of Agreements?

Question 2:

Give an explanation of the types of conditions which might be found in a contract.

Question 3:

What is the significance of penalty clauses in a contract?

Question 4:

What are the methods of payment that extinguish obligations?

Question 5:

Write concise notes on four of the following:

(a) Cession of property.

(b) Compensation.

(c) Novation.

(d) Liquidated and un-liquidated damages.

(e) Cost plus percentage contracts.

Question 6:

a) What do you understand by the term Judicial Review?

b) What are principles involved?

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Business Law and Ethics: Significance of penalty clauses in contract
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