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 : 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 : 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 : 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 : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful
Last Answer : c) unpaid seller lien does not revive
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 : which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this
Last Answer : c) actual delivery
Description : A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable
Last Answer : a) agreement to sell
Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell
Last Answer : d)agreement to sell
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 : Consider the following statement: (1) There is no difference between the English Law and Indian Law with regard to acceptance through post. (2) Both Under the English Law and the Indian Law a contract is concluded when the ... statement is/are correct? (a)1 and 2 (b) 2 alone (c) 3 alone (d) None
Last Answer : (c) 3 alone
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 : 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 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 : 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 : 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 : 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 : 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 : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.
Last Answer : b)sale or agreement
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 : A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers
Last Answer : (a) Factors
Description : An auction sale is complete on the a) fall of hammer b)delivery of goods c) payment of price d)both (b) and (c)
Last Answer : a) fall of hammer
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 are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above
Last Answer : d) All of the above
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 : 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 : 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 : A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these
Last Answer : c) warranty
Description : Warranty is a contract means a) collateral to main purpose b)condition to main purpose c) representation to main purpose d)none of the above
Last Answer : a) collateral to main purpose
Description : Representation of contract for the main purpose are called a) warranties b)conditions c) agreements d)members
Last Answer : b)conditions
Description : Where both the name and existence of the principal are not disclosed in the contract. Such principal is called a. Undisclosed principal b. Unnamed principal c. Named principal d. Prohibited principal
Last Answer : a. Undisclosed 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 : Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution
Last Answer : a) Personal affairs
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 : 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 : 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 : 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 : 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 : 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 party entitled to rescind the contract, loses the remedy where (a) He has ratified the contract (b) Third party has acquired right in good faith (c) Contract is not separable (d) All of the above
Last Answer : (d) All of the above
Description : A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable
Last Answer : (b) Void
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 : 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 : 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 : A contract is said to be discharged or terminated (a) When the rights and obligation are completed (b) When the contract becomes voidable (c) Both (a) & (b) (d) None of the above
Last Answer : (a) When the rights and obligation are completed
Description : A contingent contract is (a) Void (b) Voidable (c) Valid (d) Illegal
Last Answer : (c) Valid
Description : When the contract is perfectly valid in its substance but cannot be enforced because of certain technical defects. This is called a/ an- (a) Unilateral Contract (b) Bilateral Contract (c) Unenforceable Contract (d) Void Contract
Last Answer : (c) Unenforceable Contract