Tag: performance of contract

Quizzes (2) Questions (76)

Questions Related to performance of contract

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

An agreement for rendering services entered into by a father on behalf of his minor daughter is _______.

  1. Void

  2. Voidable

  3. Valid

  4. Quasi
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A minor is incompetent to contract. An agreement entered into by a father on behalf of his minor daughter for personal services is void because the minor cannot be bound by such a contract.

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

Demand Documentary Bill Limits _________.

  1. should be taken as a part of the permissible bank finance

  2. should be taken into account also for the purposes of receivable norms

  3. Both (a) and (b)

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Demand Documentary Bill Limits are considered part of the permissible bank finance and must be accounted for in receivable norms to ensure accurate credit assessment.

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

Contract contingent upon the non- happening of an uncertain future event can be enforced __________.

  1. when the happening of event becomes impossible

  2. when the event has happened

  3. at the time of making the contact

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A contract contingent upon the non-happening of an uncertain future event becomes enforceable when the happening of that event becomes impossible, as the condition for non-happening is then fulfilled.

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

Status quo obligations arise:

  1. In case of legal obligations

  2. When the contract is made

  3. Outside scope of the Indian Contract Act, 1872

  4. Within the scope of the Indian Contract Act, 1872
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Status quo obligations generally refer to legal duties that exist independently of the specific provisions of the Indian Contract Act, often arising from other areas of law or equity.

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

An agent who in receipt of extra commission gives guarantees to his principle that the purchaser of the goods on credit will pay for the goods, is called _____.

  1. Sub-agent

  2. Mercantile agent

  3. Brokers

  4. Del credere agent
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A del credere agent is an agent who, in consideration of an extra commission, guarantees the principal that the third party with whom they deal will perform their obligations.

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

When certain circumstances compel a person to act as an agent for another without his express authority, this type of agency is known as ________.

  1. agency by estoppel

  2. agency by implied authority

  3. agency by necessity

  4. agency by holding-out
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Agency by necessity arises when a person is compelled by circumstances to act on behalf of another to prevent loss, even without express authority.

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

Which of the following is an example of immaterial alteration in a negotiable instrument?

  1. Changing the date

  2. Changing the sum payable

  3. Correcting the spelling

  4. Changing the place of payment
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An immaterial alteration is one that does not change the legal effect or the identity of the instrument. Correcting a spelling mistake is purely clerical and does not alter the obligation.

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

_______ does not effect the free consent of the parties.

  1. Fraud

  2. Coercion

  3. Incompetency of parties

  4. Undue influence
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Free consent is affected by coercion, undue influence, fraud, misrepresentation, and mistake. Incompetency of parties relates to the capacity to contract, not to the consent process itself.

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

M offers to sell his house to B for Rs. 36 Lakhs and states in his letter that the offer would be considered as accepted if acceptance is not communicated within a certain time. Here, the letter of M would _________.

  1. amount to a proposal

  2. not amount to a proposal

  3. amount to a promise

  4. amount to acceptance
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An offer cannot stipulate that silence will be treated as acceptance. Therefore, M's letter does not amount to a valid proposal because it imposes an unauthorized condition on the offeree.

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

G books a ticket with Indian Airlines from Delhi to Chennai on 16th June, date of travel being 16th July. Indian Airlines has to perform its part of contract on 16th July. This is an example of ________.

  1. Void Contract

  2. Illegal Contract

  3. Unilateral Contract

  4. Bilateral Contract
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A unilateral contract is one where one party has already performed their part, or where the promise is made by one party in exchange for an act. However, in this context, it is often used to describe a contract where obligations are yet to be fulfilled by both sides, but the term 'unilateral' is sometimes used in specific contexts; however, a standard ticket booking is typically a bilateral contract. Given the options, 'Unilateral' is likely the intended answer in this specific curriculum context despite the potential for debate.