Description : An offer made by words spoken or written is called: (a) Implied offer (b) Express offer (c) Formal agreement (d) Informal agreement
Last Answer : (b) Express offer
Description : A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract
Last Answer : b) contract of guarantee
Description : Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of (a) express contract. (b) implied contract. (c) tacit contract. (d) unlawful contract.
Last Answer : (b) implied contract.
Description : ……………… is made by words written. (a) Express contract (b) Implied contract (c) Tacit contract (d) Unlawful contract
Last Answer : (a) Express contract
Description : _______ is a guarantee given for the good conduct or honesty of a person employed in a particular office. a) Fidelity guarantee b) Continuing Guarantee c) Retrospective guarantee d) specific guarantee
Last Answer : a) Fidelity guarantee
Description : For binding contract both the parties to the contract must: (a) Agree with each other. (b) Put the offer and counter offers. (c) Stipulate their individual offer (d) Agree upon the same thing in the same sense.
Last Answer : (d) Agree upon the same thing in the same sense.
Description : which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample
Last Answer : c) condition as to free from encumbrance
Description : When does apparent authority of an agent arise? a. When the acts with the usual authority of the job b. When the principal gives the agent implied authority to act c. When the agent has actual authority ... represents to a third party that an agent has the authority to act when in fact he doesn't
Last Answer : d. When the principal represents to a third party that an agent has the authority to act when in fact he doesn’t
Description : Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor
Last Answer : c) Termination of bailment
Description : Damages which the contracting parties fix at the time of contract in case of breach (a) Unliquidated Damages (b) Liquidated Damages (c) Nominal Damages (d) None of the above
Last Answer : (b) Liquidated Damages
Description : An offer made to a (i) Specific person, or (ii) a group of persons is known as (a) Standing offer (b) Specific offer (c) Special offer (d) Separate offer
Last Answer : (b) Specific offer
Description : The special damages i.e. the damages which arises due to some special or unusual circumstances (a) Are not recoverable altogether (b) Are illegal being positive in nature (c) Cannot be claimed as a matter of right (d) Can be claimed as a matter of right
Last Answer : (c) Cannot be claimed as a matter of right
Description : A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these
Last Answer : a) Contract of indemnity
Description : What is undisclosed agency? a. When a third party is not informed of the exercise of the principal and believes the agent is acting on his own behalf. b. When the agent indicates through conduct he is ... in existence. d. Where the third party knows there is a principal but doesn't know his name.
Last Answer : a. When a third party is not informed of the exercise of the principal and believes the agent is acting on his own behalf
Description : Under the Indian Contract Act, the contract of indemnity is restricted to such cases (a) Where the loss promise to be reimbursed is caused by the conduct of the promisor or any other person (b) The loss caused ... accident which does not depend upon conduct of any person (c) Both (a) & (b) (d) None
Last Answer : (b) The loss caused by the any events or accident which does not depend upon conduct of any person
Description : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)
Last Answer : a) specific
Description : A order of court restraining a person from doing a particular act, it’s a case of (a) Specific performance (b) Injuction (c) Both (a) & (b) (d) None of the above
Last Answer : (b) Injuction
Description : Which of the following is not a termination of agency by acts of the parties. a. Agreement b. Revocation by principal c. Insolvency d. Revocation by agent
Last Answer : c. Insolvency
Description : What is the ratio of parties in contract of indemnity and contract of guarantee (a) 2 : 3 (b) 3 : 2 (c) 1 : 3 (d) 2 : 1
Last Answer : (a) 2 : 3
Description : Which of the following statement is/are correct (a) Ordinary damages are recoverable (b) Special damages are recoverable only if parties know about them (c) Remote or indirect damages are not recoverable (d) All of these
Last Answer : (d) All of these
Description : An agreement is a Voidable Contract when it is (a) Enforceable (b) Enforceable by Law at the option of the aggrieved party (c) Enforceable by both the parties (d) Not enforceable at all.
Last Answer : (b) Enforceable by Law at the option of the aggrieved party
Description : In Commercial and business agreements, the intention of the parties to create legal relationship is (a) Presumed to exist (b) To be specifically expressed in writing (c) Not relevant or all (d) Not applicable.
Last Answer : (a) Presumed to exist
Description : Contractual rights and duties are created by ............... (a) State (b) Statute (c) Parties (d) Custom or Usage.
Last Answer : (c) Parties
Description : To form a valid contract, there should be atleast ............. (a) Two parties (b) Three parties (c) Four parties (d) Five parties.
Last Answer : (a) Two parties
Description : “A Contract is an agreement creating and defining obligations between the parties” the definition was put forwarded by (a) Dr. Ambedkar (b) Pollock (c) Salmonds (d) N.D.Kapoor
Last Answer : (c) Salmonds
Description : In agreements of a purely domestic nature, the intention of the parties to create legal relationship is (a) to be proved to the satisfaction of the court. (b) presumed to exist. (c) required to the extent of consideration. (d) not relevant at all.
Last Answer : (a) to be proved to the satisfaction of the court.
Description : A contract creates (a) rights and obligations of the parties to it. (b) obligations of the parties to it. (c) mutual understanding between the parties to it. (d) mutual lawful rights and obligations of the parties to it.
Last Answer : (b) obligations of the parties to it.
Description : Valid contracts (a) are made by free consent. (b) are made by competent parties. (c) have lawful consideration and lawful object. (d) all of the above.
Last Answer : (d) all of the above.
Description : An agreement consists of reciprocal promises between at least (a) four parties. (b) six parties. (c) three parties. (d) two parties.
Last Answer : (d) two parties.
Description : Which of the following statement is incorrect? a. An agency may be terminated by death of either party. b. An agency may be terminated by express agreement. c. An agency agreement can always be terminated by a principal. d. Mental incapability of an agent will terminate the agency relationship.
Last Answer : c. An agency agreement can always be terminated by a principal.
Description : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer
Last Answer : a. Agency
Description : Offeror is ............ (a) Party to whom offer is made (b) Third party (c) Party making an offer (d) None of the above
Last Answer : (c) Party making an offer
Description : Terms of an offer must be ......... (a) Ambiguous (b) Uncertain (c) Definite (d) Vague
Last Answer : (c) Definite
Description : The term” Proposal or offer” has been defined in - of the Indian contract Act. (a) Section 2(a) (b) Section 2(b) (c) Section 2(c) (d) Section 2(d)
Last Answer : (a) Section 2(a)
Description : Which one of the following falls into the category of offer? (a) Newspaper advertisement regarding sale. (b) Display of goods by a shopkeeper in his window with prices marked on them (c) An advertisement for a concert. (d) Announcement of reward to the public.
Last Answer : (d) Announcement of reward to the public.
Description : Which one of the following statement is true? (a) Offer and acceptance are revocable (b) Offer and acceptance are irrevocable (c) An offer can be revoked but acceptance cannot (d) An offer cannot be revoked but acceptance can be revoked.
Last Answer : (a) Offer and acceptance are revocable
Description : Which one of the following will constitute a valid acceptance? (a) An enquiry as to fitness of the subject matter of contract. (b) A provisional acceptance (c) Addition of a superfluous term, while accepting an offer. (d) A conditional acceptance.
Last Answer : (a) An enquiry as to fitness of the subject matter of contract.
Description : The communication of a proposal is complete when it comes to (a) The knowledge of that person (b) The object of the offer (c) The intention with which offer is made (d) The facts underlying the offer
Last Answer : (a) The knowledge of that person
Description : Communication of offer is complete when (a) The letter is posted to the offeree (b) The letter is received by the offeree (c) The offer is accepted by the person to whom it is made (d) It comes to the knowledge of the offeror that the letter has been received by the offeree
Last Answer : (b) The letter is received by the offeree
Description : An offer stands revoked (a) If the fact of the death or insanity is known to offeree (b) By counter offer (c) By rejection of offer (d) All the above
Last Answer : (d) All the above
Description : A tender is (a) an offer (b) invitation to an offer (c) acceptance of offer (d) none of the above
Last Answer : (a) an offer
Description : The offer must be ………….. (a) Conditional (b) Temporary (c) Definite (d) all of the above
Description : A Counter offer is ............... (a) A rejection of the original offer (b) An acceptance of the offer (c) A bargain (d) An invitation to treat
Last Answer : (a) A rejection of the original offer
Description : Which one of the following statement about a valid acceptance of an offer is incorrect? (a) Acceptance should be absolute and unqualified. (b) Acceptance should be in the prescribed manner (c) Acceptance should be communicated (d) Acceptance should be made while the offer is subsisting
Last Answer : (d) Acceptance should be made while the offer is subsisting
Description : What can a catalogue of books, listing price of each book and specifying the place where the listed books are available be termed as? (a) An offer (b) An obligation (c) An invitation to offer (d) A promise to make available the books at the listed place.
Last Answer : (c) An invitation to offer
Description : Goods displayed in a Shop window with a price label will amount to: (a) Offer (b) Acceptance of offer (c) Invitation to offer (d) Counter offer
Last Answer : (c) Invitation to offer
Description : Which one of the following has the correct sequence? (a) Offer, acceptance, consideration, offer. (b) Offer, acceptance , consideration, contract (c) Contract, acceptance, consideration, offer. (d) Offer, consideration, acceptance, contract.
Last Answer : (b) Offer, acceptance , consideration, contract
Description : Which of the following is false? An offer to be Valid must (a) Contain a term the non- compliance of which would amount to acceptance. (b) Intend to create legal relations. (c) Have certain and unambiguous terms. (d) Be communicated to the person to whom it is made.
Last Answer : (a) Contain a term the non- compliance of which would amount to acceptance.
Description : An Agreement is ................... (a) Offer (b) Offer+ Acceptance (c) Offer + Acceptance + Consideration (d) Contract
Last Answer : (b) Offer+ Acceptance
Description : A promises to deliver his watch to B and, in return, B Promise to pay a sum of ` 2,000. There is said to be a/ an (a) Agreement (b) Proposal (c) Acceptance (d) Offer
Last Answer : (a) Agreement