Business Laws and Special Contracts Set 3
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This set of Business Regulations Multiple Choice Questions & Answers (MCQs) focuses on Business Laws and Special Contracts Set 3
Q1 | The promises forming consideration for each other are called
- reciprocal promises
- mutual promises
- independent promises
- none of the above
Q2 | Ex turpi causa non oritur action means?
- from an illegal cause, no action arises
- from an illegal cause action may arises
- from an legal cause action may arises
- from an legal cause action may not arises
Q3 | Consideration and object of an agreement is unlawful if it
- is fraudulent
- is possible
- is impossible
- all of the above
Q4 | The stifling agreement is
- wagering
- contingent
- voidable
- void
Q5 | Which of the following agreements are valid?
- uncertain agreements
- wagering agreements
- agreements to do impossible events
- none of the above
Q6 | In which of the following agreements, restraint of trade is valid?
- agreement with buyer of goodwill
- trade combinations not opposed to public policy
- partnership agreements
- all of the above
Q7 | An uncertain agreement is
- voidable
- void
- valid
- illegal
Q8 | An illegal agreement is
- not enforceable by law
- prohibited under law
- either (a) & (b)
- both (a) & (b)
Q9 | Which of the following is not a feature of a wagering agreement?
- chances of gain or loss
- uncertainty of future event
- neither party have control over future event
- neither parties should have an interest in the event
Q10 | An athletic competitions are valid because they are
- games of skill
- just games
- game of luck
- all of the above
Q11 | Share market transactions with a clear intention only to settle the price difference are
- wagering agreements
- not wagering agreements
- contingent contracts
- voidable agreements
Q12 | Which of these are not opposed to public policy?
- trading with enemy
- stifling prosecution
- compromise of compoundable offences
- agreement to commit a crime
Q13 | Where a person agrees to maintain a suit, in which he has no interest, the proceeding isknown as
- champerty
- maintenance
- stifling with prosecution
- interference with course of justice
Q14 | An agreement whereby one party assists another in recovering money or property and in turnshare in the proceeds of the action is called
- champerty
- maintenance
- stifling with prosecution
- trafficking the public office
Q15 | Which of the following is a contingent contract?
- contract of insurance
- contract for doing impossible acts
- marriage contract
- wagering agreements
Q16 | Consent means parties agreeing on
- the terms of contract
- some terms of contract
- the same thing in the same sense
- any matter of contract
Q17 | _________ means forcibly compelling a person to enter into a contract
- intimidation
- fraud
- mistake
- coercion
Q18 | Duress under English contract law is similar to
- undue influence
- coercion
- fraud
- misrepresentation
Q19 | Ubberima fidei means
- bad faith
- utmost good faith
- good faith
- no faith at all
Q20 | When one of the parties is under a mistake as to a matter of fact essential to the agreement, itis called
- unilateral mistake
- bilateral mistake
- partial mistake
- incomplete mistake
Q21 | The maxim ‘Ignoranlia juris non excusa’ stands for
- law will not punish ignorant people
- law will punish illiterate people
- ignorant people can excuse law
- ignorance of law of land is no excuse
Q22 | The case of ‘no consent’, i.e., when there is no consent at all, is described by Salmond as
- error in causa
- error in consensus
- consensus ad idem
- offer and acceptance
Q23 | Capacity to contract means
- the parties are financially sound to make contracts
- the parties are physically able to enter into contracts
- the parties are legally competent to enter into contracts
- all of the above
Q24 | Competence to contract means
- age of the parties
- soundness of the mind of the parties
- both (a) & (b)
- intelligence of the parties
Q25 | A minor’s agreement is void. This was held in the case of
- mohiri bibee vs. dharmadas ghosh
- salma begam vs. jan mohamed khan
- balfour vs. balfour
- chinnaiya vs. ramaiya