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
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 : A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable
Last Answer : (b) Void
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 contingent contract is (a) Void (b) Voidable (c) Valid (d) Illegal
Last Answer : (c) Valid
Description : Agreement the meaning of which is uncertain is (a) Void (b) Valid (c) Voidable (d) Illegal
Last Answer : (a) Void
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 makes a contract with B to beat his business competitor. This is an example of (a) valid contract. (b) illegal agreement. (c) voidable contract. (d) unenforceable contract.
Last Answer : (b) illegal agreement.
Description : ………………. is forbidden by law. (a) Valid contract (b) Illegal agreement (c) Voidable contract (d) Unenforceable contract
Last Answer : (b) Illegal agreement
Description : Parol contracts are also known as (a) Simple Contract (b) Format Contract (c) Void Contract (d) Conditional contract
Last Answer : (a) Simple Contract
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 : 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 a one-sided contract in which only one party has to perform his promise or obligation. (a) Void contract (b) Illegal agreement (c) Unilateral contract (d) Bilateral contract
Last Answer : (c) Unilateral contract
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 : A …….. duty is to bring together the buyer and seller and make the sale happen. a. Broker’s b. Factor’s c. Commission agent’s d. Del credere agent’s
Last Answer : a. Broker’s
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 : 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 : …… is an agent who is appointed to sell goods at a public auction for reward. a. Commission agent b. Broker c. Auctioneer d. Factor
Last Answer : c. Auctioneer
Description : A contract is made where: (a) A buys a book from a shop (b) X bids at a public auction. (c) X agrees with Y to discover a treasure by magic (d) Z agrees to attend the birthday party of his friend
Last Answer : (a) A buys a book from a shop
Description : where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is a) invalid delivery b)valid and effective c) conditional d)none of this
Last Answer : b)valid and effective
Description : No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment
Last Answer : b) Gratuitous bailment
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 offer must be ………….. (a) Conditional (b) Temporary (c) Definite (d) all of the above
Last Answer : (c) Definite
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
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 of the following is false with respect to minor entering a contract? (a) An agreement with or by a minor is void ab initio (b) A minor can be a beneficiary of a contract (c) The ... may be enforced at the option of the third party (d) A minor cannot ratify a contract on attaining majority
Last Answer : (c) The contracts involving a minor as a beneficiary may be enforced at the option of the third party
Description : The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these
Last Answer : d)all of these
Description : In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these
Last Answer : c) tender of price by buyer
Description : On the payment of price by the buyer ,if the seller fails to deliver the goods ,then the buyer can file a suit for a) refund of price b)interest c) none of this d)both (a )and (b)
Last Answer : a) refund of price
Description : The unpaid seller can exercise his right of lien over the goods for a) any lawfull charges b)price of goods c) storage charges d)all of these
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 : 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 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 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 : 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 : 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
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 : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.
Last Answer : b)sale or agreement
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 : Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use
Last Answer : c) Sale
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 : A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purpose; except: a) Sale b) Transportation c) Storage d) Lease
Last Answer : d) Lease
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 : 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 : 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 : 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