Business Law Essentials

Which one of the following element is not necessary for a contract ?

An agreement becomes a contract if 

Compromise of dispute claims

When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is

Where the transfer of the property in the goods is to take place at a future time, the contract is called

A stipulation collateral to the main purpose of the contract of sale of goods is called

In a sale, if the goods are destroyed, the loss falls on

For how many years must a financial institution preserve the record of customer’s identification under the Money Laundering (Prohibition) Act?

When it is stated in bill of lading that the goods received are in bad condition, it is called

An agreement to do an illegal act (eg: sharing the earnings of smuggling business) is