Top 150+ Solved Business Laws MCQ Questions Answer
Q. The Law of Contract in India is contained in
a. Indian Contract Act 1862
b. Indian Contract Act 1962
c. Indian Contract Act 1872
d. Indian Contract Act 1972
Q. An agreement which is enforceable by law at the portion of one or more of the partiesthereon but not at the option of the other or others is a :
a. Valid Contract
b. Void Contract
c. Voidable Contract
d. Illegal Contract
Q. When the consent of a party is not free, the contract is:
a. Void
b. Voidable
c. Valid
d. Illegal
Q. Which is the following is false? An acceptance:
a. Must be communicated
b. Must be absolute and unconditional
c. Must accepted by a person having authority to accept
d. May be presumed from silence of offeree
Q. In case of illegal agreements the collateral agreements are
a. Valid Contract
b. Void Contract
c. Voidable Contract
d. None of these
Q. An offer may lapse by
a. Revocation
b. Counter Offer
c. Rejection of offer by offeree
d. All of these
Q. Which of the following statement is true?
a. Consideration must result in a benefit to both parties
b. Past consideration is no consideration in India
c. Consideration must be adequate
d. Consideration must be something which a promisor is not already bound to do
Q. Which is the following is false? Consideration:
a. Must move at the desire of the promisor
b. May move from any person
c. Must be illusory
d. Must be some value
Q. Which of the following statement is false?
a. Generally a stranger to a contract can not sue
b. A verbal promise to pay a time barred debt is valid
c. Completed gifts need no consideration
d. No consideration is necessary to create an agency
Q. Consideration must move at the desire of:
a. Promisor
b. Promisee
c. Any other person
d. Any of these
Q. Which of the following statement is true?
a. There can be a stranger to a contract
b. There can be a stranger to a consideration
c. There can be a stranger to a contract & consideration
d. None of the above
Q. Consideration in sample term means
a. Anything in return
b. Something in return
c. Everything in return
d. Nothing in return