Top 150+ Solved Business Laws MCQ Questions Answer
Q. Which of the following persons can perform the contract?
a. Promisor alone
b. Legal representatives of the Promisor
c. Agent of the Promisor
d. All of these
Q. A, B and C jointly promised to pay Rs.6000 to D. Before the performance of the contract,C dies. Here the contract;
a. Becomes void on C’s death
b. Should be performed by A and B along with C’s legal representatives
c. Should be performed by A and B alone
d. Should be renewed between A, B and D
Q. A contract is discharged by novation which means the;
a. Cancellation of the existing contract
b. Change in one or more terms of the contract
c. Substitution of existing contract for a new one
d. None of these
Q. A contract is discharged by recission which means the;
a. Change in one or more terms of the contract
b. Acceptance of lesser performance
c. Abandonment of rights by a party
d. Cancellation of the existing contract
Q. When prior to the due date of performance, the promisor absolutely refuses to performthe contract, it is known as:
a. Abandonment of a contract
b. Remission of contract
c. Actual breach of contract
d. Anticipatory breach of contract
Q. In case of anticipatory breach, the aggrieved party may treat the contract;
a. As discharged and bring an immediate action for damages
b. As operative and wait till the time for performance arrives
c. Exercise option either (a) or (b)
d. None of these
Q. In case of breach of contract, which of the following remedy is available to the aggrievedparty?
a. Suit for recission
b. Suit for damages
c. Suit for specific performance
d. All of these
Q. Sometimes, a party is entitled to claim compensation in proportion to the work done byhim. It is possible by a suit for;
a. Damages
b. Injunction
c. Quantum merit
d. None of these
Q. Generally, which of the following damages are not recoverable?
a. Ordinary damages
b. Special damages
c. Remote damages
d. Nominal damages
Q. A contract depend on the happening or non happening of the future uncertain event, is a
a. Uncertain contract
b. Contingent contract
c. Void contract
d. Voidable contract
Q. A contingent contract depend on the happening of the future uncertain event can beenforced when the event;
a. Happens
b. Becomes impossible
c. Doesn’t happen
d. Either of these
Q. A agrees to pay Rs.1,00,000 to B if he brings a star from the sky. This is a contingentcontract and
a. Illegal
b. Valid
c. Voidable
d. Void
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 voidable contract is one which;
a. Can be enforced at the option of the aggrieved party
b. Can be enforced at the option of the both parties
c. Cannot be enforced in a court of laws
d. Court prohibits