Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. An agreement not supported by consideration is called:
a. Consensus ad idem
b. Ignoratia juris non execuset
c. Ab imits
d. Nudum Pactum
Q. Which one of the following is the correct statement:
a. Stranger to consideration contract sue
b. Stranger to consideration can file a suit
c. Stranger to consideration is stranger to contract
d. Stranger to consideration cannot be party to the contract
Q. Consider the following statements: Consideration is 1. A motive for any promise 2. A price for any promise 3. Only a moral obligation 4. Something of value in the eye of law Of these statements
a. 1,2 and 3 are correct
b. 1 and 4 are correct
c. 2 and 4 are correct
d. 3 alone is correct
Q. Past consideration means
a. Money received in the past without making even a proposal
b. The price which is more than the promisee's expectation
c. A past act done before the promise is made
d. None of the above
Q. An agreement without consideration is void except in case of compensation for
a. Voluntary services rendered
b. Voluntary services rendered at the request of the other party to the agreement
c. Voluntary services rendered at the request of third person
d. Reimbursement of expenses incurred
Q. A contract without consideration is void. There are exceptions. Which one of the following exceptions iscorrect?
a. Promise to pay disputed debt
b. Promise to pay time-barred
c. Promise to pay time-barred debt which is in writing and signed ; (d)
d. Promise to pay any debt
Q. Which one of the following statements is incorrect with regard to nature of a valid consideration?
a. Consideration must be adequate
b. Consideration must be real
c. Consideration may be past, present or future
d. Consideration must move at the desire of promisor
Q. Which one of the following statements about the doctrine of privity is correct?
a. Only a party to the contract can sue
b. Stranger to a contract cannot sue
c. A contract is enforceable by a stranger
d. Both (a)&(b)
Q. 'Consideration is the price for which the promise of the other is bought, and the promise thus given for thevalue is enforceable.' This definition of consideration is
a. By Pollock
b. By Justice Patterson
c. By Cheshire and Fifoot
d. In section 2(d) of the Contract Act
Q. When 'at the desire of the promisor, the promisee or any other person has done or abstained from doing ordoes or abstain from doing some thing'- such act or abstinence or promise is called
a. Agreement
b. Contract
c. Consideration
d. Proposal
Q. In India, a person who is stranger to the consideration
a. Can sue on the contract, if he is a party
b. Cannot sue the contract
c. Depends on the parties
d. Depends on the circumstances
Q. When one of the parties to the contract has performed its part of the promise which constitutes theconsideration for the promise by the other side, it is known as
a. Past consideration
b. Executed consideration
c. Executory consideration
d. Future consideration
Q. Which of the following statement regarding past consideration is incorrect
a. It is done before making the agreement
b. A past consideration is valid
c. It is done with the making of the contract
d. None of the above
Q. Past consideration means
a. Consideration and promise should move together
b. Executed consideration
c. Consideration is provided prior to the making of the contract
d. Invalid consideration