Description : The offer must be ………….. (a) Conditional (b) Temporary (c) Definite (d) all of the above
Last Answer : (c) Definite
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 : Agreement the meaning of which is uncertain is (a) Void (b) Valid (c) Voidable (d) Illegal
Last Answer : (a) Void
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 : 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 : 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 : Offer implied from conduct of parties or from circumstances of the case is called ........... (a) Implied offer (b) Express offer (c) General offer (d) Specific offer
Last Answer : (a) Implied offer
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 : 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 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 : 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
Description : As per section 2(e) of the Indian Contract Act, “Every Promise and every set of promise forming the consideration for each other is a/an (a) Contract (b) Agreement (c) Offer (d) Acceptance
Last Answer : (b) Agreement
Description : Every agreement and promise enforceable by law is ……………. (a) Offer (b) Contract (c) Acceptance (d) Consideration
Last Answer : (b) Contract
Description : A/an …………… is every Promise and every set of promises , forming consideration for each other (a) Offer (b) Agreement (c) Acceptance (d) Transaction
Description : All Contract is a/an …………….. (a) Offer (b) Agreement (c) Acceptance (d) Transaction
Description : Every promise and every set of promise forming the consideration for each other is a/an (a) contract. (b) agreement. (c) offer. (d) acceptance.
Last Answer : (b) agreement.
Description : Change in one or more of the important terms in a contract, it is the case of (a) Novation (b) Rescission (c) Remission (d) Alternation
Last Answer : (d) Alternation
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 : In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods
Last Answer : c) has an option to buy the goods
Description : The transfer of goods from a bailor to a must actually take place Landlord Bailee Lease Tenant
Last Answer : Bailee
Description : In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary
Last Answer : d) Actual ownership of goods is necessary
Description : Which one is not the duties of bailee (a) The bailee must take care of goods as of his goods. (b) The bailee cannot use bailor’s goods in an unauthorised manner. (c) The bailee should return the goods without demand on the expiry of the time period. (d) He can set up adverse title to the goods.
Last Answer : (d) He can set up adverse title to the goods.
Description : Which one of the following statement is incorrect? (a) Oral acceptance is a valid acceptance. (b) Mere silence is not acceptance (c) Acceptance must be communicated (d) Acceptance may not be in the prescribed manner
Last Answer : (d) Acceptance may not be in the prescribed manner
Description : For an acceptance to be valid, it must be (a) Partial & qualified (b) Absolute & unqualified (c) Partial & unqualified (d) Absolute & qualified
Last Answer : (b) Absolute & unqualified
Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor
Last Answer : d) Creditor
Description : The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor
Last Answer : a) A surety
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 : When a guarantee given for an existing debt or obligation it is known as a) Specific guarantee b) fidelity guarantee c) Retrospective guarantee d) continuing guarantee
Last Answer : a) Specific guarantee
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 : A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these
Last Answer : a) By notice
Description : When a guarantee extends to a single transactions or debt it is called a) Retrospective guarantee b) Specific Guarantee c) Prospective guarantee d) Fidelity guarantee
Last Answer : b) Specific Guarantee
Description : The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these
Last Answer : b) Principal Debtor
Description : The person who promises to make good the loss is called the ___ a) Indemnified b) None of these c) Indemnifier d) Indemnifier holder
Last Answer : c) Indemnifier
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 : On sellers wrongful refusal to deliver the unascertained goods to the buyer, the buyer can file a suit for recovery of a)goods b)damages c)both (a) and (b) d)none of these
Last Answer : d)none of these
Description : A bidder at an auction sale can withdraw his bid a) before fall on hammer b)any time during auction c) before payment of price d)none of these
Last Answer : a) before fall on hammer
Description : where the seller has expressly reserved his right to bid in the auction to bid in his behalf ,the seller can appoint a) only one bidder b) two bidders c) any number of bidders d) none,seller has no such right
Last Answer : a) only one bidder