L A of Busi. Sec. Q51

0. A gives B a bond for the repayment of Rs. 1,000 with interest at 12 percent at the end of six months, with a stipulation that, in case of default, interest shall be payable at the rate of 75 percent from the date of default. This is a stipulation by way of penalty.

Cancel reply

Your email address will not be published. Required fields are marked *


Cancel reply

Your email address will not be published. Required fields are marked *