Top 150+ Solved Business Laws and Special Contracts MCQ Questions Answer
Q. When the offers made by two persons to each other containing similar terms of bargain crosseach other in post, they are known as
a. cross offers
b. implied offers
c. direct offers
d. express offers
Q. Which of the following is not the mode of the lapse of an offer?
a. lapse of time
b. case against the offeror
c. insanity of the offeror
d. failure to accept condition precedent
Q. Contract is defined as an agreement enforceable by law, vide section . . . . . of the IndianContract Act
a. 2 (e)
b. 2 (f)
c. 2 (h)
d. 2 (i)
Q. When the contract is perfectly valid but cannot be enforced because of certain technicaldefects. This is called
a. unilateral contract
b. bilateral contract
c. unenforceable contract
d. void contract
Q. Where a contract has to be inferred from the conduct of parties, it is called
a. express contract
b. implied contract
c. tacit contract
d. unlawful contract
Q. Where the obligation in a contract is outstanding on the part of both parties, it is called
a. void contract
b. illegal agreement
c. valid contract
d. bilateral contract
Q. A contract in which, under the terms of a contract, nothing remains to be done by eitherparty is known as
a. executed contract
b. executory contract
c. unilateral contract
d. none of the above
Q. A contract in which, under the terms of a contract, one or both the parties have still toperform their obligations in future is known as
a. executed contract
b. executory contract
c. unilateral contract
d. none of the above
Q. The unpaid seller can exercise his right of lien over the goods for
a. price of goods
b. storage charges
c. any lawful charges
d. all of these
Q. An auction sale is complete on the
a. fall of hammer
b. delivery of goods
c. payment of price
d. both (b) and (c)
Q. An unlawful act by which an intending purchaser is prevented from bidding or raising theprice at an auction sale is known as
a. decoy ducking
b. puffering
c. damping
d. none of these
Q. The right of lien is exercised
a. to retain possession of goods
b. to regain possession of goods
c. to resell the goods
d. none of these
Q. Which of the following rights are available to the unpaid seller against the buyer
a. suit for price
b. suit for interest
c. suit for repudiation
d. all of these
Q. Delivery of the key of the warehouse by the seller to the buyer will amount to
a. actual delivery
b. symbolic delivery
c. constructive delivery
d. none of these
Q. In case the buyer rejects the whole quantity of goods due to short delivery or excessdelivery, the contract is treated as
a. subsisting
b. cancelled
c. void
d. invalid