Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. A contractor entered into an agreement with Government to construct a godown and received advance payments for the same. He did not complete the work and the Government terminated the contract.
a. The Government can claim damages
b. The Government under sec. 65 could recover the amount advanced to the contractor
c. The Government cannot claim damages
d. Both (a)&(b)
Q. A and B agree to deal in smuggled goods and share the profits. A refuses to give B's share of profit. In this case:
a. B can enforce the agreement in the court
b. B can only claim damages
c. B has no remedy as the contract is illegal
d. B can enforce the contract or claim damages
Q. A and B agree that law of limitation shall not apply to them. A debt becomes time barred and A refuses topay the amount. Can B recover the amount under the terms of the agreement?
a. Yes, the agreement between them is valid and enforceable
b. No, the agreement is opposed to public policy
c. No, the agreement is a voidable agreement and can be avoided by A
d. No, the agreement falls under section 23 and hence illegal
Q. A borrows ` 5,000 from B to purchase a revolver to shoot C. Can B recover his loan of ` 5,000, assumingthat B knows the purpose of the loan.
a. yes, the agreement between them is valid and enforceable
b. no, the agreement is opposed to public policy
c. no, the agreement is a voidable agreement and can be avoided by A
d. no, the agreement falls under section 23 and hence illegal
Q. A borrows from B ` 500 to bet with C. Can B recover the amount of his loan?
a. yes, the agreement between them is collateral to a wagering agreement and hence enforceable
b. no, the agreement is opposed to public policy
c. no, the agreement is a voidable agreement and can be avoided by A
d. no, the agreement falls under section 23 and hence illegal
Q. A paid ` 500 to a Government servant to get him a contract for the canteen. The Government servantcould not get the contract. Can A recover ` 500 paid by him to the Government servant?
a. yes, the agreement is opposed to public policy
b. no, the agreement is opposed to public policy
c. no, the agreement is a voidable agreement and can be avoided by A
d. no, the agreement falls under section 23 and hence illegal
Q. A makes a contract with B to buy B's horse if A survives C. This is
a. a Quasi-contract
b. a Void contract
c. a Contingent contract
d. a Conditional contract
Q. An insurance contract is
a. Contingent contract
b. Wagering agreement
c. Unenforceable contract
d. Void contract
Q. If the contingent depends on the mere will of the promisor it would be-
a. Valid
b. Void
c. Illegal
d. Depends on the circumstances
Q. For a contingent contract the event must be:
a. Certain
b. Uncertain
c. Independent
d. Uncertain and collateral
Q. Which of the following is a contingent contract:
a. A promises to pay B if he repairs his scooter
b. A promises to pay B ` 10,000 if his scooter is stolen
c. A promises to sell his car if his wife permits
d. A promises to buy a car if his employer approves it
Q. A contract of life insurance, the performance of which depends upon a future event falls under thecategory of
a. Contract of Indemnity
b. Contract of Guarantee
c. Contingent Contract
d. Special type of Contract
Q. Which one of the following is not a characteristic of a contingent contract?
a. Performance depends upon a future event
b. The event must be uncertain
c. The event must be collateral to the contract
d. There must be reciprocal promises
Q. Which one of the following is not an essential feature of a wagering agreement?
a. Insurable interest
b. Uncertain event
c. Mutual chances of gain or loss
d. Neither party to have control over the event