Business Law MCQ WITH ANSWERS

 

Business Law

111. An agreement made without consideration is

1. valid,
2. illegal,
3. voidable
4. void

Correct answer: (D)
void

112. On the face of the ticket for a journey the words ― for conditions see back are printed in small print. The passenger ________________

1. is bound by the conditions whether he takes care to read them or not.
2. is not bound by the conditions
3. may not take note of the conditions
4. none of the above.

Correct answer: (A)
is bound by the conditions whether he takes care to read them or not.

113. A contract creates

1. rights in personam,
2. rights in rem,
3. only rights and no obligations,
4. only obligations and no rights.

Correct answer: (B)
rights in rem,

114. A mere attempt at deceipt by a party to a contract ________________

1. is not fraud unless the other party is actually deceived
2. is fraud whether the other party has been deceived ornot
3. amounts to misrepresentation
4. none of the above.

Correct answer: (A)
is not fraud unless the other party is actually deceived

115. If there is a fraudulent misrepresentation as to the character of a document , the contract is ________________

1. void,
2. voidable,
3. valid
4. illegal

Correct answer: (A)
void,

116. The case of nordenfelt v. maxim nordenfelt gun co. (1904)deals with

1. agreement in restraint of legal proceedings,
2. minor‘s agreements
3. agreement in restraint of trade
4. agreement in restraint of marriage.

Correct answer: (C)
agreement in restraint of trade

117. When promisee refuses to accept performance from the promisor who offers to perform, it is ________________

1. attempted performance,
2. vicarious performance,
3. tender
4. frustration of contract.

Correct answer: (A)
attempted performance,

118. Assignment by operation of law takes place ________________

1. by the mutual consent of parties
2. by the will of either party
3. when the subject matter of a contract ceases to exist.
4. by the death of a party to a contract.

Correct answer: (D)
by the death of a party to a contract.

119. Where a contract could not be performed because of the default by a third person on whose work the promisor relied , it ________________

1. is not discharged
2. is discharged
3. becomes void
4. becomes voidable.

Correct answer: (A)
is not discharged

120. Specific performance may be ordered by the court when ________________

1. the contract is voidable
2. damages are an adequate remedy
3. damages are not an adequate remedy
4. the contract is uncertain.

Correct answer: (C)
damages are not an adequate remedy

Business Law MCQS , MCQs With Answers

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