Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. Which of the following statements regarding Quasi-contracts is incorrect
a. It resembles a contract
b. It is imposed by law
c. It is based on the doctrine of unjust enrichment
d. It is voluntarily created
Q. Which of the following transactions cannot be described as Quasi-contracts
a. Claims of necessaries supplied to incompetent person
b. Right to recover money paid for another person
c. Right to claim money if given under coercion or mistake
d. Right to claim money if given under fraud or misrepresentation
Q. Quasi-contracts are:
a. not contracts in the real sense of the word
b. relations which create certain obligations resembling those created by a contract
c. implied contracts
d. unenforceable contracts
Q. A finder can sell the goods if:
a. the goods are ascertained.
b. the goods are un- ascertained,
c. the goods are valuable,
d. the goods are perishable
Q. Mr. Kamal was levied Sales Tax on his forward transactions in bullion, which he paid. The levy of this tax was declared ultra vires. Mr. Kamal demanded refund on the amount of Sales Tax on the ground that payment was under a mistake of law. Which of the following is correct?
a. Mr. Kamal will not succeed as once the payment is made to government it cannot be refunded
b. Mr. Kamal will not succeed as his forward transaction of bullion attracted sales tax at that time
c. Mr. Kamal will succeed
d. Mr. Kamal will not succeed as mistake of law is not good defence
Q. An insurance company paid money by mistake on a policy which had lapsed. Though the company was not ignorant of the fact of the lapse, this was overlooked at the time of payment. Can the company recover the amount?
a. The company cannot recover the amount
b. The company can recover the amount
c. The company once paid the money is estopped to demand back by virtue of 'Doctrine of Estoppel'
d. The company can revive the lapsed policy and thus regularize the payment
Q. Where a party to a contract fails to perform at or before a specified time and it was the intention of theparties that time should be of the essence
a. The contract becomes voidable
b. The contract does not become voidable but the aggrieved party is entitled to compensation
c. The contract becomes void
d. None of these
Q. Contracts which need not be performed are spelt out in
a. Sees. 60-65 of the Contract Act
b. Sees. 61-66 of the Contract Act
c. Sees. 62-67 of the Contract Act
d. Sees. 68-70 of the Contract Act
Q. Reciprocal promises include
a. Mutual and independent promises
b. Mutual and dependent promises
c. Mutual and concurrent promises
d. All of these
Q. A contracts with B to construct a building for a fixed price, B supplying the necessary timber. Thisreciprocal promise is
a. Mutual and Independent
b. Mutual and Dependent
c. Mutual and Concurrent
d. None of the above
Q. A contract of personal nature can be performed by
a. The promisor,
b. The agent,
c. The legal representative,
d. None of the above.
Q. Where the order of performance is not fixed the contract will be performed as per
a. The wish of the promisor
b. The wish of the promise
c. The wish of both the parties
d. The nature of transactions
Q. If neither the debtor nor the creditor appropriates the payment, the payment will be appropriated:
a. As per the desire of the promisor,
b. As per the desire of the promisee,
c. In order of time,
d. None of the above.
Q. Agreement by way of wager are
a. Valid and enforceable by law
b. Void
c. Voidable at the option of party
d. Illegal