Legal Question in Business Law in India

state, with reason whether the following statement are correct or incorrect.
1)if the consideration to an agreement is furnished by a stranger and not by the promise himself , the agreement will be void
2)The liability of a sleeping partner is limited.
3)An auctioneer can refuse to accept the highest bid.
4) A preference shareholder does not have a right to vote an every resolution of the company.
5) Agency by ratification arises when the principal ratifies the act of the agent.

Asked on 8/17/11, 2:35 pm

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pls dont post homework assignments.

Answered on 8/18/11, 4:29 am

Sanjay Kalra Sanjay Kalra & Associates

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Identify your self for the answer.

Answered on 8/21/11, 5:56 am

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