Top 150+ Solved Business Laws MCQ Questions Answer
Q. Which of the following statements is correct?
a. Ordinary damages are recoverable
b. Special damage is recoverable only if the parties knew about them
c. Remote or indirect damages are not recoverable
d. All of these
Q. When offer is made to a definite person, it is known as
a. General offer
b. Cross offer
c. Counter offer
d. Special offer
Q. Standing offer means
a. Offer allowed to remain open for acceptance over a period of times
b. Offer made to the public in general
c. When the offeree offers to qualified acceptance of the offer
d. Offer made to a definite person
Q. When the offeree offers to qualified acceptance of the offer subject to modificationsand variations he is said to have made a
a. Standing, open or continuing offer
b. Counter offer
c. Cross offer
d. Special offer
Q. What is legal terminology for the doing or not doing of something which the promisordesires to be done or not done?
a. Desires
b. Wishes
c. Considerations
d. Promise
Q. Can a person who is usually of unsound, but occasionally of sound mind, make acontract?
a. Yes, he can always make a contract
b. Yes, but only when he is sound mind
c. No, he cannot make contract
d. Can’t be determined
Q. A sells the goodwill of his business to B and agrees with him to refrain from carryingon a similar business within specified local limits. This contract is
a. Valid
b. Void
c. Voidable
d. Illegal
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. A sees a sea
d. A sit in a public Omni bus.
Q. In case of void agreements, collateral transactions are
a. Also void
b. Unenforceable
c. Not affected
d. Illegal
Q. The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the directions of the person delivering them, then it is called:
a. Contingent contract
b. Bailment
c. Pledge
d. Contract of indemnity
Q. A, a minor bought 11 expensive coasts from B. he was, at that time, adequately provided with clothes, but B did not know this fact. In such a case
a. Minor is personally liable to pay for the coast
b. Minor’s property can be attached for payment
c. Minor is liable since he has Misled into supply of coats
d. Minor is not liable at all
Q. A husband, by a registered agreement promised to pay wife Rs 5,000 p.m. there was no consideration moving from the wife to the husband. This contract is
a. Void
b. Illegal
c. Valid
d. Unenforceable
Q. In Indian Contract Act, the term consensus ad idem means
a. Parties under a mistake
b. Parties under the free consent
c. Parties agreeing upon the same thing in same sense
d. None of these
Q. Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps to correct the error. Now Sonia wants to cancel the contract based on fraud. Which of the following statement is correct?
a. Sonia can cancel the contract alleging fraud
b. Sonia cannot cancel the contract
c. Sonia can cancel the contract alleging undue influence
d. Sonia can claim damages