1.An acceptance on telephone should be *
(a) Heard by the offeror
(b) Audible to the offeror
(c) Understood by the offeror
(d) All of the above.
2. Consideration in a contract: *
(a) May be past, present or future
(b) May be present or future only
(c) Must be present only (d)
(d) Must be future only.
3.Agreement without consideration is valid, when made *
(a) Out of love and affection due to near relationship
(b) To pay a time barred debt
(c) To compensate a person who has already done something voluntarily
(d) All of the above
4. If only a part of the consideration or object is unlawful, the Contract is *
(a) Valid to the extent the same are lawful
(b) Void to the extent the same are unlawful
(c) Valid as a whole
(d) Void as a whole.
5.The expression “Privity of contract” means *
(a) A Contract is Contract between the parties only
(b) A Contract is a private document
(c) Only private documents can be contracts
(d) The contacts may be expressed in some usual and reasonable manner.
6.Under the Indian Contract Act, a third person *
(a) Who is the beneficiary under the Contract can sue
(b) From whom the consideration has proceeded can sue
(c) Can not sue even if the consideration has proceeded from him.
(d) Can not sue at all for want of privity of contract.
7.Which of the following is not Competent to Contract? *
(a) A minor
(b) A person of unsound mind
(c) A person who has been disqualified from contracting by some Law
(d) All of these
8.“ Consensus – ad – idem” means ……… *
(a) General Consensus
(b) Meeting of minds upon the same thing in the same sense
(c) Reaching an agreement
(d) Reaching of contract
9.A Contract which is formed without the free consent of parties, is ………. *
(a) Valid
(b) Illegal
(c) Voidable
(d) Void ab- initio
10.If an agreement suffers from any uncertainty. It is …………. *
(a) Voidable
(b) Void
(c) Unenforceable
(d) Illegal.
11. All illegal agreements are …………. *
(a) Void- ab- initio
(b) Valid
(c) Contingent
(d) Enforceable
12. A promise to give money or money’s worth upon the determination or ascertainment of an uncertain event is called ………….. *
(a) Wagering Agreement
(b) Unlawful Agreement
(c) Illegal Agreement
(d) Voidable Agreement
13. A Contingent Contract is a contract to do, or not to do something if some event, collateral to such contract *
(a) happens
(b) does not happen
(c) Neither (a) nor (b)
(d) Either (a) or (b)
14. The phrase “Quantum Meruit” literally means – *
(a) As much as is earned
(b) The fact in itself
(c) A Contract for the sale
(d) As much as is gained.
15.Which of the following is the essential ingredient of contract of indemnity: *
(a) Contract to make good the loss
(b) Loss must be caused to the indemnity holder.
(c) Loss may be caused by promiser or any other person
(d) All of the above.
16. How agency is created: *
(a) By Direct appointment
(b) By implication
(c) By necessity
(d) All of the above
17. An agreement which is enforceable by law at the option of one party *
(a) Valid contract
(b) Void contract
(c) Voidable contract
(d) Illegal contract
18. A Gratuitous Promise can *
(a) Be enforced
(b) Not be enforced
(c) Be enforced in court of law
(d) None of above
19. If A makes an offer to B on a particular day, then the offer can be revoked by A before *
(a) B accepts the offer
(b) A receives B’s acceptance
(c) B has posted the letter of acceptance
(d) Reasonable period of time
20. The two types of breach are *
(a) Actual breach and Deemed breach
(b) Actual breach and Conditional breach
(c) Actual breach and Anticipatory breach
(d) Actual breach and Remedial breach
Answers
Answer:
A lithosphere is the rigid, outermost shell of a terrestrial-type planet or natural satellite. On Earth, it is composed of the crust and the portion of the upper mantle that behaves elastically on time scales of thousands of years or greater
1) (d) All of the above
2) (a) Maybe past, present, or future
3) (d) All of the above
4) (d) Void as a whole
5) (a) A contract is a contract between the parties only.
6) (a) Who is the beneficiary under the contract can sue
7) (d) All of these
8) (b) Meeting of minds upon the same thing in the same sense
9) (c) Voidable
10) (b) Void
11) (a) Void - ab - initio
12) (a) Wagering agreement
13) (b) Does not happen
14) (a) As much as is earned
15) (d) All of the above
16) (d) All of the above
17) (c) Voidable Contract
18) (b) Not be enforced
19) (c) B has posted the letter of acceptance
20) (c) Actual breach and Anticipatory breach
The detailed explanations to the above set of MCQs can be found in the Indian Contract Act which was enforced in 1872.