Indian Contract Act - III
Get Complete Study Material for Indian Contract Act-III, Essential Elements of a Valid Contract, Types of Contracts, Offer, Acceptance, Lawful Consideration, Competent To Contract, Free Consent, Revocation of Offer, Agency
Questions
Which of the following is/are exception(s) to 'no consideration, no contract'?
- Agreement on account of natural love
- Promise to pay time barred debt
- Contract of agency and guarantee
- All of the above
A contract in which one party wins and the other loses is called
- contingent contract
- wagering contract
- uncertain contract
- None of these
An agreement with inadequate consideration with free consent is
- valid
- voidable
- void
- void ab initio
A contingent contract is a/an _______ contract.
- valid
- void
- voidable
- illegal
A wagering agreement is a/an ________ contract.
- valid
- void
- voidable
- illegal
A contract where the parties have no interest in the subject matter of agreement is called _______ agreement.
- contingent
- void
- voidable
- wagering
When a party offers performance of its obligation, it is called
- an attempted tender
- anticipation of performance
- a tender of performance
- none of these
Tender can be of
- goods only
- money only
- services only
- all of these
A tender for part performance is
- a valid tender
- a voidable tender
- not a valid
- always applicable
______ means substitution of old contract by a new one.
- Novation
- Alteration
- Recission
- Remission
Anticipatory breach of contract occurs when a party refuses to perform the contract
- before the due date
- on the due date
- after the due date
- any time
If a person under voidable contract opts to rescind the contract,
- he is not required to restore the benefits received under contract.
- he should restore the benefits received under contract.
- he should take the advice of court to restore the benefits.
- all of these hold true in this case.
In the absence of contrary contract, the amount of damages for the breach of contract is decided by the
- concerned parties
- third party
- aggrieved party
- court
The ________ damages are awarded when there is actually no real loss to aggrieved party.
- general
- special
- nominal
- exemplary
_______ damages are awarded in cases like breach of contract of marry, wrongful dishonour of cheque by the banker, etc.
- General
- Special
- Nominal
- Exemplary
Quantum Meruit means
- as much as is decided
- as much as is earned
- sufficient amount of damages
- as much as is loss
_______ means an order by Court for prohibiting a party from doing a thing which it promised not to do.
- Recission
- Novation
- Injunction
- Alteration
______ contracts are based on principles of equity, justice and good conscience.
- Contingent
- Wagering
- Quasi
- Expressed
The finder of lost goods has the same rights as that of the
- bailor
- bailee
- buyer
- seller
Insurance contracts are examples of _______ contracts.
- contingent
- wagering
- quasi
- expressed
Sometimes silence may amount to
- coercion
- undue influence
- fraud
- misrepresentation