Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. The Indian Contract Act, 1872
a. Contains the basic principles of contract
b. Is not a complete code on contract
c. Does not cover all types of contracts
d. All the above
Q. An agreement & contract are one and same thing.
a. True
b. False
c. Depends on the situation
d. None of the above
Q. The source of the law of contract is
a. Indian Contract Act, 1872
b. Judicial decisions
c. Customs or usage of trade
d. All the above
Q. Law of contract
a. Is the whole law of obligations
b. Is the whole law of agreements
c. Deals with only such legal obligation which arise from agreement
d. Deals with social agreements
Q. Social agreements are
a. Enforceable in the courts
b. Not enforceable in the courts
c. Subject to legal obligations
d. Made by social workers
Q. All contracts
a. Are agreements
b. Are not agreements
c. Do not have legal obligations
d. Should be in writing
Q. Mercantile Law
a. Is applicable to businessmen only
b. Is applicable to everybody
c. Is applicable to non-businessman only
d. Is applicable to Indians only
Q. A contract consist of
a. Mutual promises or agreement enforceable by law
b. Agreement not enforceable by law
c. Involuntary obligations
d. None of the above
Q. An agreement to create legal liability
a. Is not enforceable by law
b. Is a void agreement
c. Is enforceable by law
d. None of the above
Q. Obligation between parties that form contract
a. Are all kinds of obligations
b. Are legal obligation which spring from agreements
c. Are not voluntary in nature
d. None of the above
Q. A contract means an agreement
a. Which is enforceable by law
b. Which is not enforceable by law
c. Which creates social obligation
d. Which is in writing
Q. A contract or an obligation to perform a promise could arise in the following ways
a. By agreement and contract
b. By standard form of contracts
c. By promissory estoppels
d. None of the above
Q. The Indian Contract law is based on
a. English law
b. Australian law
c. American law
d. French law
Q. Section 2(b) defines, "When the person to whom the proposal is made, signifies his assent thereto, theproposal is said to be accepted. A proposal when accepted becomes a/an
a. Contract
b. Agreement
c. Promise
d. Offer
Q. When the consent of a party to a contract has been obtained by undue influence, fraud ormisrepresentation, the contract is
a. Legal
b. Voidable
c. Enforceable
d. None of these