Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. A contract of insurance is a :
a. Contract of guarantee
b. Contract of indemnity
c. Wagering agreement
d. Contingent contract
Q. In a wagering agreement:
a. Both the parties win
b. Both the parties loose
c. None of the parties wins
d. One party wins and the other looses
Q. Which one of the following statements is correct?
a. Void agreements are always illegal
b. Illegal agreements are voidable
c. Illegal agreement can be ratified by the parties
d. Illegal agreements are always void
Q. Which one of the following is not a wagering agreement?
a. A lottery
b. An agreement to buy a ticket for a lottery
c. Commercial transaction, the intention of which is not to deliver the goods but only to pay the difference in price
d. A contract of insurance
Q. A wagering agreement in India is declared by the Contract Act as
a. Illegal and void
b. Void but not illegal
c. Voidable at the option of the aggrieved party
d. Immoral
Q. Which one of the following is a void agreement?
a. An agreement without consideration
b. An agreement in restraint of marriage
c. An agreement in restraint of trade
d. All of the above
Q. Agreement to do an impossible act has been declared
a. Void
b. Voidable
c. Enforceable
d. None of these
Q. Agreement in restraint of marriage has been defined in
a. Section 23
b. Section 24
c. Section 25
d. Section 26
Q. An agreement which restricts a person's freedom to marry or to marry any person of his choice is against public policy and is
a. Lawful
b. Illegal
c. Void
d. None of these
Q. An agreement of service under which an employee agrees that he will serve a particular employer for a certain duration and that he will not serve anybody else during that period, is a
a. Valid agreement
b. Void agreement
c. Illegal agreement
d. None of these
Q. If the seller agrees to supply all the goods produced by him to a certain buyer and to nobody else, and the buyer also, in turn undertakes to accept the whole of the quantity, the agreement is
a. Void agreement
b. Solus agreement
c. Illegal agreement
d. None of these
Q. Section 28 of the Indian Contract Act, speaks about
a. Agreement in restraint of legal proceedings
b. Agreement in restraint of trade
c. Agreement in restraint of marriage
d. None of these
Q. Ambiguous and uncertain agreements are defined in
a. Section 26
b. Section 27
c. Section 28
d. Section 29
Q. If an agreement suffers from any uncertainty, it is
a. Voidable
b. Void
c. Unenforceable
d. None of these
Q. If the contract is impossible in itself physically or legally the agreement is
a. Void contract
b. Voidable
c. Void ab initio
d. None of these