What is meant by day of grace

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Business Lawinfo_at_answersheets.in91 95030-94040
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• Business Law
•  
• Q1.a) What is a breach of contract?
• b) What do you understand by an
  anticipatory breach of contract?
• c) State the rights of the promise in
  case of anticipatory breach.
• Q2.a) State the effect of death, insanity and
  insolvency of the principal or agent on a
  contract of agency.
• b) When does termination of agency takes
  effect?
• c) When is an agency irrevocable?
• Q3.Discuss the common features of a promissory
  note, bill of exchange and cheque.
• Q4. a) What is meant by maturity of an
  instrument?
• b) What is meant by day of grace?
• c) Explain the provision relating to the
  calculation of date of maturity

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• Q5.Explain with example the doctrine of
  supervening impossibility.
• Q6.a) What are the agreements by way of wager?
• b) State the legal effect of such
  agreements.
• c) Is a contract of insurance a wager?
• Q7.No action is allowed on an illegal agreement.
  Comment and state the exceptions
• (if any) to this rule.
• Q8.a) Define Coercion.
• b) State the effect of Coercion on the
  validity of a contract.
• c) Does the threat of commit suicide
  amount to Coercion?
• d) On whom the burden of proof lies in
  case of Coercion

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