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X is having 2 horses, a white and another black horse. X offers to sell...

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Finance

X is having 2 horses, a white and another black horse. X offers to sell his black horse to Y. Y does not know that X has two horses and thinks that he is buying the white horse, and agrees to buy the horse. a) Is this agreement valid? 2 marks b) Explain the relevant Law applicable in this case. 3 marks

2. a) X who was badly in need of money offered to sell his car worth Rs 100,000 to Y for Rs. 10000. Before the car was delivered X received an offer of Rs 20,000 and refused to carry out the contract on grounds of inadequacy of consideration. Is X liable to Y for damages? 2 marks c) Explain the essential and legal rules of a valid consideration 3 marks

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