Business Laws and Special Contracts Set 4
On This Page
This set of Business Regulations Multiple Choice Questions & Answers (MCQs) focuses on Business Laws and Special Contracts Set 4
Q1 | A minor can be
- ratify his agreement after attaining majority
- be directed by the court for specific performance of the contract
- always plead his minority
- be held liable for cheques issued by him
Q2 | A minor’s guardian is not liable to the creditor for breach of contract by the minor, if thecontract is for __________
- supply of necessaries
- supply of non-necessaries
- supply of services
- all of the above
Q3 | The doctrine of restitution refers to the restoration of property or goods, obtained by falserepresentation. This doctrine is
- beneficial to minors
- not applicable to minors
- applicable to minors
- none of the above
Q4 | A consideration in a contract
- may be any thing
- nothing in return
- something in return
- may be illusory
Q5 | A consideration may be
- past
- present
- future
- either (a) or (b) or (c)
Q6 | An agreement not supported by the consideration is called
- nudum pactum
- an invalid consideration
- ab initio
- namo dat quod non habet
Q7 | The consideration is to be moved sometime after the formation of a contract, it is known as
- present consideration
- executory consideration
- past consideration
- executed consideration
Q8 | The term privity of contract means
- stranger to contract
- contract is private
- first party to contract
- second party to contract
Q9 | A proposal may consist of a promise for
- doing an act
- abstaining from doing an act
- either (a) or (b)
- returning the consideration
Q10 | A offers to sell his car on internet, it is
- an express offer
- an implied offer
- a particular offer
- no offer
Q11 | The offer which is allowed to remain open for the acceptance over a period of time is knownas a/an
- standing offer
- specific offer
- special offer
- implied offer
Q12 | The offer made to a specific person or group of persons is known as a
- standing offer
- specific offer
- special offer
- separate offer
Q13 | Terms of the offer must be
- ambiguous
- uncertain
- definite
- vague
Q14 | When a person invites the other party to make an offer, he is said to make a/an
- proposal
- offer
- invitation to offer
- acceptance
Q15 | Price lists, catalogues, advertisements in newspapers and enquiries from customers are
- offers
- invitations to offer
- acceptances
- cross offers
Q16 | Goods displayed in a shop with a price label is
- an offer
- an invitation to offer
- a counter-offer
- a contra-offer
Q17 | When the offers made by two persons to each other containing similar terms of bargain crosseach other in post, they are known as
- cross offers
- implied offers
- direct offers
- express offers
Q18 | Which of the following is not the mode of the lapse of an offer?
- lapse of time
- case against the offeror
- insanity of the offeror
- failure to accept condition precedent
Q19 | Contract is defined as an agreement enforceable by law, vide section . . . . . of the IndianContract Act
- 2 (e)
- 2 (f)
- 2 (h)
- 2 (i)
Q20 | When the contract is perfectly valid but cannot be enforced because of certain technicaldefects. This is called
- unilateral contract
- bilateral contract
- unenforceable contract
- void contract
Q21 | Where a contract has to be inferred from the conduct of parties, it is called
- express contract
- implied contract
- tacit contract
- unlawful contract
Q22 | Where the obligation in a contract is outstanding on the part of both parties, it is called
- void contract
- illegal agreement
- valid contract
- bilateral contract
Q23 | A contract in which, under the terms of a contract, nothing remains to be done by eitherparty is known as
- executed contract
- executory contract
- unilateral contract
- none of the above
Q24 | A contract in which, under the terms of a contract, one or both the parties have still toperform their obligations in future is known as
- executed contract
- executory contract
- unilateral contract
- none of the above
Q25 | The unpaid seller can exercise his right of lien over the goods for
- price of goods
- storage charges
- any lawful charges
- all of these