Tag: business law and contract act

Questions Related to business law and contract act

Which among the following is/are the type(s) of lien?

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. Particular lien

  2. General Lien

  3. Both (a) and (b)

  4. Neither(a) nor (b)

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Correct Option: C

Inadequacy of consideration may be taken into account by the Court to determine whether the consent or promisor was freely given.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. True

  2. Partly True

  3. False

  4. None of the above

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Correct Option: B

L says to J "I shall sell my house; will you buy?" A says, " Yes, I shall buy". The agreement is void due to ________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. uncertainty of meaning

  2. uncertainty of price

  3. uncertainty of existence of subject matter

  4. uncertainty of quality of subject matter

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Correct Option: B

When there is a Counter Offer, the original offer terminates _______.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. True

  2. False

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Correct Option: A

On the face of a ticket for a journey, the words, "For conditions see back" are printed in small print. The passenger ______.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. is bound by the conditions whether he takes care to read them or not

  2. is not bound by the conditions

  3. may not take note of the conditions

  4. may claim that he has not seen the conditions

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Correct Option: A

A agrees to pay B Rs. 10 Lakhs and B promises to bring for A, stars from heaven. The agreement is _______.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. void

  2. valid

  3. voidable

  4. illegal

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Correct Option: A

In case of Illegal Agreements, Collateral transactions are ______.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. also void

  2. not affected

  3. valid

  4. enforceable

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Correct Option: A

A teacher enters in to contract with a student to teach for the exams, but he dies before teaching. Now __________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. legal representatives are bound to perform

  2. becomes enforceable

  3. voidable

  4. contract comes to an end

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Correct Option: D

Shyam and Sunil are joint promisors. Promisee discharged one of the joint promisor. Then ___________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. both of them discharged from liability

  2. promise comes to an end

  3. Sunil is not discharged from liability towards Shyam

  4. Sunil is discharged from liability

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Correct Option: C

In case of death of a Joint Promisor(s), the Promisee can ________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. enforce the contract against the survivor(s) of the said Joint Promisor(s)

  2. not enforce the contract against the survivor(s) of the said Joint Promisor(s)

  3. not enforce the contract at all

  4. both (a) & (b)

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Correct Option: A