Q.1 (a)Aslam and Shareef are trading in wheat. Shareef entered into a contract with Aslam for the purchase of 30 tons of wheat. Shareef had private information of change in prices which would have affected Aslam's willingness to enter into the contract. When Aslam, through his own resources, came to know about the prices, he accused Shareef of fraud and repudiated the contract.

Under the provisions of the Contract Act, 1872 explain whether Aslam is justified in repudiating the contract.(04 marks).

(b)Under the provisions of the Contract Act, 1872:

List down any five situations in which the parties to the contract are not discharged from the performance of their contractual obligations on the ground of supervening impossibility.(04 marks).

(c)Saleem agrees to build a house for Fahad for Rs. 50 million on the condition that payment will only be made after Zaheer, an architect, certifies that the house has been constructed in accordance with the layout plan.

Under the provisions of the Contract Act, 1872 describe the nature and validity of the above contract.(04 marks).

(d)On 3 July 2020 Nadeem offered, by a letter, to sell his laptop to Naveed for Rs. 50,000. Naveed received the letter on 5 July 2020.

On 6 July 2020 Naveed posted the letter of acceptance to Nadeem. The letter reached Nadeem on 8 July 2020.

Nadeem wrote a letter of revocation of his offer and posted it to Naveed on 5 July 2020. The letter reached Naveed on 7 July 2020.

Required:

Under the provisions of the Contract Act, 1872 briefly describe:

i.When the communication of the offer and acceptance and the revocation of the offer was completed as against Nadeem and Naveed under the above circumstances.(04 marks).

ii.Whether a binding contract was created between Nadeem and Naveed. (04 marks).