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1. What are the essentials of valid consideration? Answer with suitable examples.
3. Explain the doctrine ‘Caveat Emptor’ and state the exceptions to it.
4. What are the differences between joint Hindu family organization and the partner-
ship organization?
(a) Person
(b) Assessee
(c) Assessment Year
(d) Previous Year.
8. Define the terms ‘Manufacture’ and ‘Manufacturer’. Bring out the basic ingredients
of manufacture.
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