Multiple Choice Questions on A applied for 1000 shares in a Company on 1st May The Company allotted shares on 1st November of tha........... for Judicial Services (Master) Preparation

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Multiple Choice Questions

A applied for 1000 shares in a Company on 1st May The Company allotted shares on 1st November of tha...........

Indian Contract Act (ICA)1872 Valid and Void Contracts
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    A applied for 1000 shares in a Company on 1st May. The Company allotted shares on 1st November of that year A refused the Shares. Is A’s action valid ?

    Yes , Shares Cannot be allotted oon the faith of letter Written by A 

    Incorrect Answer

    Yes , Shares Cannot be allotted in the second half of a calendar year

    Incorrect Answer

    Yes , Offer lapsed as it was not accepted within a reasonable time 

    Correct Answer

    No , A has to accept and pay for the shares of revocation of offer have been  

    Incorrect Answer
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    Explanation:

    Yes , Offer lapsed as it was not accepted within a reasonable time 

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