Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. Partial acceptance of offer result in
a. counter offer
b. unqualified acceptance
c. binding contract
d. none of the above
Q. Acceptance is to offer what a lighted match is to a train of gun powder. This statement indicates
a. Once an offer is accepted it results in binding contract
b. Communication of acceptance is necessary
c. Acceptance must be absolute & unqualified
d. All the above
Q. Death or insanity of the proposer will revoke the proposal
a. Automatically
b. If the fact of the death or insanity is known to the offeree
c. The knowledge of death or insanity is irrelevant
d. Only if the family members of the proposer informs the offeree
Q. An offer stands revoked
a. If the fact of the death or insanity is known to offeree
b. By counter offer
c. By rejection of offer
d. All the above
Q. Cross offer do not constitute a contract because
a. there is no acceptance
b. there is implied acceptance
c. crossing implies cancellation
d. it amounts to counter offer
Q. A proposal can be revoked
a. Before posting of letter of acceptance by the acceptor
b. Before receiving the letter of acceptance by the offeror
c. After posting the letter of acceptance by the offeree
d. Cannot be revoked
Q. Communication of acceptance is not necessary
a. By performance of conditions of the offer by offeree
b. By acceptance of consideration by the offeree
c. By acceptance of benefit/service by the offeree
d. All the above
Q. When counter offer is given, the original offer
a. Lapses
b. Remains valid
c. Is accepted and becomes a contract
d. The original offer can also be accepted
Q. A counter offer proposing different terms and conditions
a. Amounts to acceptance of the offer
b. Amount to rejection of the offer
c. Results in making of the provisional contract
d. Both (b) & (c)
Q. Which of the following statements is false?
a. A response to invitation to treat lead to an agreement
b. A valid offer must be communicated
c. Supplying information is not an offer
d. A request for tenders is an invitation to treat
Q. When the promisee does not accept the offer of performance, the promisor is not responsible for nonperformance
a. True
b. False
c. Both(a)&(b)
d. None of the above
Q. For an acceptance to be valid, it must be
a. Partial & qualified
b. Absolute & unqualified
c. Partial & unqualified
d. Absolute & qualified
Q. The Sale of Goods Act, 1930 came into force on —
a. 1st day of July 1930
b. 1st day of September 1930
c. 1st day of January 1930
d. 31st day of December 1930