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

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
by

1 Answer

Answer :

c) warranty
by

Related questions

A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these

Description : A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these

Last Answer : A. Condition

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

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

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

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

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

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

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

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

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

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

Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Description : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Last Answer : b)sale or agreement

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

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

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

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

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

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

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)

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

Representation of contract for the main purpose are called a) warranties b)conditions c) agreements d)members

Description : Representation of contract for the main purpose are called a) warranties b)conditions c) agreements d)members

Last Answer : b)conditions

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

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

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.

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.

Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Description : Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Last Answer : c) Lien

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

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

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

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

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

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

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

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

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 contracts involving a minor as a beneficiary may be enforced at the option of the third party (d) A minor cannot ratify a contract on attaining majority

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

The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Last Answer : d) Creditor

The person who gives the guarantee is called a) A surety b) Guarantee c) Competent 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

_______ 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

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

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

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

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

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

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

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

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

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

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

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

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)

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

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

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

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

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

Parol contracts are also known as (a) Simple Contract (b) Format Contract (c) Void Contract (d) Conditional contract

Description : Parol contracts are also known as (a) Simple Contract (b) Format Contract (c) Void Contract (d) Conditional contract

Last Answer : (a) Simple Contract

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

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

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

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

A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable

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

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

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

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

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

The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Description : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Last Answer : a. Agency

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

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

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

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

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

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

In contract of indemnity, what is the liability of indemnifier against the indemnified (a) Primary (b) Secondary (c) No liability (d) Both (a) & (b)

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

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 by the any events or accident which does not depend upon conduct of any person (c) Both (a) & (b) (d) None

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

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

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

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

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

A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable

Description : A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable

Last Answer : (b) Void

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

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

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

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

Which is not the mode of discharge of contract (a) Performance of contract (b) Lapse of time (c) Breach of contract (d) Injunction

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

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

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