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Business & Labor law (MGT611)...GDB no 1.(.Start date : 10 nov 2016..Due date : 16 nov 2016) Marks :5

Total Marks 5
Starting Date Thursday, November 10, 2016
Closing Date Wednesday, November 16, 2016
Status Open
Question Title GDB No.1
Question Description

Scenario

Mr. Khan entered into an agreement for the purchase of a flat situated on third floor of a multistory plaza in Lahore with his uncle for Rs.21,00,000. His uncle told him that the said flat is suitable both for residence purpose and for investment purpose to re-sale it later on a profit. Mr. Khan believed the statement to be true as it is given by his uncle who is his well-wisher. After the agreement, but before the performance, Mr. Khan came to know that the flat is not suitable for residence due to problems of non-availability of water and in-adequate arrangements of cleanliness in that Plaza. Furthermore the property in that Plaza has become almost non-saleable.

Required

Discuss whether this contract is voidable or not? If voidable, then on what basis, otherwise justify that why this agreement is valid.

 

Instructions

  • Your answers should be precise and to the point.
  • Limit your answer to the given case only. Do not write general details about the topic covered.
  • Do not copy from any source, neither from a web-site nor from another student.
  • Copied answer will be marked as Zero.

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Friends share your thoughts and ideas for this gdb.........with disscussion and ideas we find a correct answer......so plz comment here for this GDB....Thanks

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