Top 150+ Solved Business Laws and Special Contracts MCQ Questions Answer
Q. A positive assertion, in a manner not warranted by the information of the person making it, ofthat which is not true, though he believes it to be true is said to be a:
a. fraud
b. misrepresentation
c. mistake
d. misinterpretation
Q. Choose the incorrect statement:To constitute a wager, following elements should be present in the agreement:
a. uncertain event
b. each party must pay in a win or lose situation
c. neither party should have any contract over the event
d. there should be a promise to pay money only
Q. The Indian Contract Act, 1872 applies to the
a. whole of india including jammu & kashmir
b. whole of india excluding jammu & kashmir
c. states notified by the government every year
d. northern and eastern indian states
Q. A jus in personam means a right against
a. a specific person
b. the public at large
c. a specific thing
d. none of these
Q. Which of the following statement is true
a. an agreement enforceable by law is a contract
b. an agreement is an accepted proposal
c. both (a) and (b)
d. none of these
Q. A contract is made where
a. x agrees with y to discover a treasure by magic
b. x bids at a public auction
c. x takes a sit in a public omni bus
d. x promises in writing to give rs. 500 to y
Q. A void agreement is one which is
a. valid but not enforceable
b. enforceable at the option of both the parties
c. enforceable at the option of one party
d. not enforceable in a court of law
Q. In case of void agreements, collateral transactions are
a. also void
b. unenforceable
c. not affected
d. illegal
Q. General offer can be accepted by
a. any person
b. specific person
c. any person having notice of it
d. none of these
Q. Which of the following does not constitute valid acceptance
a. it has been communicated
b. it is absolute and unqualified
c. it has been presumed from silence of offeree
d. the offer has been accepted by the proper person
Q. Which of the following is not the legal requirements of a valid offer
a. it must be communicated to the offeree
b. it must be made with a view to obtain offeree's assent
c. it must express offeree's final willingness
d. it must be made to a specific person and not to public at large
Q. As a general rule, an agreement made without consideration is
a. void
b. valid
c. voidable
d. unlawful
Q. An agreement made with free consent to which the consideration is lawful but inadequate, is
a. void
b. valid
c. voidable
d. unlawful
Q. For the enforcement of a promise to pay a time-barred debt without consideration, which ofthe following condition is not required?
a. it must be in writing
b. it must be definite and express
c. it must be signed by the promisor
d. it must be registered in court of law