at 10:46 AM

Types of Tenders and their Effects

Tender is a means (arising out of certain conditions) by which a Contract is deemed to be performed. Since, recent Examination pattern of IPCC & CPT is more logic oriented rather then based on just cramming; tender qualifies the criteria to be considered as a promising topic.
Types of Tenders
Effects of goods and services :
(1) Tender of Goods and Services -
  • Goods or Services need not be offered again
  • Promisor is - 
                           * Discharged
                           * Not Required to Offer Again
                           * Not responsible for non-performance
                           * Entitled to sue the other party
     
(2) Tender of Money -
  • The Debtor remains liable to pay the debt
  • The Debtor is discharged from liability for payment of interest right from the due date of tender

    As stated earlier Tender is one of the ways by which a performance is deemed to have been done, for detailed content about The Performance of Contract click Here

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