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 : 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 : An agent who is appointed to perform a particular act. a. General agent b. Universal agent c. Special agent d. Commercial agent
Last Answer : c. Special agent
Description : A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)
Last Answer : (d) Both (b) & (c)
Description : A lien which is available only against that property of which the skill and labour have been exercised (a) General Lien (b) Particular Lien (c) Ordinary Lien (d) Both (a) & (b)
Last Answer : (b) Particular Lien
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 : 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 : Communication of proposal is complete when it comes to the knowledge of ........... (a) The person to whom it is made (b) The proposer (c) Either (a) or (b) (d) The Court.
Last Answer : (a) The person to whom it is made
Description : The Indian Contract Act, applies to the: (a) Whole of India excluding Jammu & Kashmir (b) Whole of India including Jammu & Kashmir (c) States notified by the Central Government from time to time (d) None of the above.
Last Answer : (b) Whole of India including Jammu & Kashmir
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 : Exemplary damages are not awarded in such case (a) Breach of promise to marry (b) Wrongful dishonour & customers cheque by banker (c) Breach of any business contract (d) None of the above
Last Answer : (c) Breach of any business contract
Description : A person employed to do any act for another person is called. a. Agent b. Principal c. Agency d. Bailor
Last Answer : a. Agent
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 : The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment
Last Answer : a) Pledge
Description : Which is not the mode of discharge of contract (a) Performance of contract (b) Lapse of time (c) Breach of contract (d) Injunction
Last Answer : (d) Injunction
Description : An agent who has authority to do all acts connected with a particular trade, business or employment. a. Commission agent b. General agent c. Del credere agent d. Broker
Last Answer : b. General agent
Description : In case a condition is changed to the status of a warranty ,then the buyer a)loses the right to reject goods b)retains right claim damages only c)both (a) and (b) are true d)both (a) and (b) are false
Last Answer : c)both (a) and (b) are true
Description : A Contract is ................ (a) A promise to do something or abstain from doing something. (b) A communication of intention to do something or abstain from doing something (c) A set of promises. (d) An agreement enforceable by law.
Last Answer : (d) An agreement enforceable by law.
Description : If in a contract, the time lapses and if the party fails to perform the contract within specified time the contract becomes (a) Voidable (b) Void (c) Illegal (d) Enforceable in the court
Last Answer : (a) Voidable
Description : A sees an article marked Price Rupees Twenty in B's shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 ( ... B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.
Last Answer : (a) A cannot force B to sell the article at ` 20
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 : 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 : 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 : A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter
Last Answer : b) On the expiry of the period
Description : “No one can transfer rights which he himself does not have” that principle carried in a) companies act 2013 b)industrial act c) “nemodat quod non habet” d)none of the above
Last Answer : c) “nemodat quod non habet”
Description : The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this
Last Answer : c) English sale of goods act
Description : The term goods for the purpose of sale of goods act does not include a) actionable b)money c) immovable property d)all of these
Last Answer : d)all of these
Description : The sale of goods act 1930 deals with the a) movable goods only b)period of contract c) immovable goods d)none of the above
Last Answer : a) movable goods only
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 : Law relating to agency is contained in ……. Chapter of the Indian Contract Act. a. Chapter IX b. Chapter X c. Chapter XI d. Chapter XII
Last Answer : b. Chapter X
Description : The term” Promise” 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 : (b) Section 2(b)
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 : An agreement not enforceable by Law is said to be void under section ................ of the Indian Contract Act. (a) Section 2(a) (b) Section 2(b) (c) Section 2(f) (d) Section 2(g)
Last Answer : (d) Section 2(g)
Description : Which one of the following is the best statement about the Indian Contract Act? (a) It is an exhaustive code containing the entire law of contract. (b) It is an Act to amend certain parts of ... the entire law of contracts being an Act to define and amend certain parts of law relating to contract.
Last Answer : (c) It is an Act to define certain parts of the law relating to contracts and contains only the general principles of contract.
Description : Contract is defined as an agreement enforceable by Law, vide section ............ of the Indian Contract Act. (a) Section 2(e) (b) Section 2(f) (c) Section 2(h) (d) Section 2(i)
Last Answer : (c) Section 2(h)
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 : Agreement is defined by the section ............... of the Indian Contract Act, 1872. (a) Section 2(c) (b) Section 2(e) (c) Section 2(g) (d) Section 2(i)
Last Answer : (b) Section 2(e)
Description : Contract is defined as an agreement enforceable by law, vide Section … of the Indian Contract Act. (a) Section 2(e) (b) Section 2(f) (c) Section 2(h) (d) Section 2(i)
Description : The Indian Contract Act came into force on: (a) 15th September, 1872 (b) 1st September, 1872 (c) 1st October, 1872 (d) 15th October, 1872.
Last Answer : (b) 1st September, 1872
Description : In case on sale of approval the ownership is transferred to the buyer when he a) adopts the transactions b)accept the goods c) fail to return goods d)in all the above cases
Last Answer : c) fail to return goods
Description : Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above
Last Answer : (d) None of the above
Description : In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above
Last Answer : (a) The value of the security
Description : Which is not the case of discharge of surety (a) By notice of revocation (b) By death of surety (c) If creditor releases the principal debtor (d) None of the above
Description : In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable
Last Answer : (b) Secondary
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 : 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 : Consensus-ad-idem is an essential of (a) Agreement (b) Promise (c) Both (a) & (b) (d) Consideration
Last Answer : (a) Agreement
Description : What is the right of the bailee against the goods (a) Owner (b) Possessor (c) Bailee can sell those goods (d) Both (a) & (b)
Last Answer : (b) Possessor
Description : In contract of indemnity, what is the liability of indemnifier against the indemnified (a) Primary (b) Secondary (c) No liability (d) Both (a) & (b)
Last Answer : (a) Primary
Description : In both the cases, devolution of joint liabilities and devolution of joint rights, if a promisor dies, who will perform on behalf of him (a) Other promiser (b) His legal representation (c) Both (a) & (b) (d) None of the above
Last Answer : (c) Both (a) & (b)