Home › CS Executive › jurisprudence › Sources of Law › Per Section 1 of the Indian Contract Act, 1872, …
Per Section 1 of the Indian Contract Act, 1872, the Act does NOT affect:
Answer & Solution
Correct answer: C.
1. The unit quotes Section 1 of the Indian Contract Act, 1872 directly.
2. The section preserves local usages and customs of trade not expressly repealed.
3. The provision shows that even in codified mercantile law, customs survive when not inconsistent.
4. The other options are not what Section 1 carves out.
5. So customs/usages of trade survive codification under Section 1.
_Source: ICSI CS Executive Programme, Paper 1 "Jurisprudence, Interpretation and General Laws", Lesson 1 "Sources of Law" (Nov 2021 edition, pp 2-19)._
Related questions
The 'Grundnorm' or basic/ultimate norm from which all other norms derive their power is a Per Bentham, expository jurisprudence ascertains what the law is. The complementary branchThe word 'jurisprudence' is derived from the Latin word for 'law' and which other word?Roscoe Pound's theory of law is sometimes called the theory of:Which of the following is NOT among the criticisms of Austin's Command Theory listed in thPer Austin's Command Theory, the three essential features of law are:Indian Mercantile Law was first codified through which Act, enacted in 1872?Equity Courts in England acted on maxims, including 'He who seeks equity must do equity'.