Top 50+ Solved Business Law MCQ Questions Answer
Q. Every promise and every set of promises, forming the consideration for each other is an
a. agreement
b. offer
c. contract
d. acceptance
Q. In a contract of indemnity the right of the indemnifier is similar to that of the:
a. debtor
b. creditor
c. surety
d. agent
Q. A person coming forward to accept after it has been dishonoured is called:
a. acceptor for honour
b. acceptor for paying
c. payment for honour
d. holder
Q. When an instrument is lost, it is presumed that it was duly stamped
a. true
b. false
c. not inchoate
d. inchoate
Q. Which one of the following element is notnecessary for a contract ?
a. Competent parties
b. Reasonable terms and conditions.
c. Free consent
d. Lawful concentration
Q. An agreement becomes a contract if :
a. It is by free consent of the parties.
b. Parties are competent.
c. It is enforceable by law.
d. None of the above .
Q. In a standardized contract :
a. The individual has no choice but to accept and sign on
b. The individual must be protected in contract.
c. The agreement is without consideration.
d. None of the above.
Q. The correct sequence in the formation of a contract is :
a. Offer, acceptance, agreement, consideration.
b. Agreement, consideration, offer,acceptance.
c. Offer , Consideration, acceptance, agreement.
d. Offer,acceptance, consideration, agreement.
Q. A sells, by auction to B a horse which A knows to be unsound. A says nothing to B about the horse unsoundness. A does :
a. Fraud
b. Misrepresentation
c. No fraud
d. Undue Influence