Business Law MCQs With Answers 191. An offer may lapse by
Revocation Counter Offer Rejection of offer by offeree All of these View answer Correct answer: (D)
192. Which of the following statement is true?
There can be a stranger to a contract There can be a stranger to a consideration There can be a stranger to a contract & consideration None of the above View answer Correct answer: (B)
193. Ordinarily, a minor's agreement is
Void ab initio Voidable Valid Unlawful View answer Correct answer: (A)
194. The threat to commit suicide amounts to
Coercion Undue influence Misrepresentation Fraud View answer Correct answer: (A)
195. On the valid performance of the contractual obligations by the parties, the contract;
Is discharged Becomes enforceable Becomes void None of these View answer Correct answer: (A)
196. In case of anticipatory breach, the aggrieved party may treat the contract;
As discharged and bring an immediate action for damages As operative and wait till the time for performance arrives Exercise option either (a) or (b) None of these View answer Correct answer: (C)
197. A contingent contract depend on the happening of the future uncertain event can be enforced when the event;
Happens Becomes impossible Doesn't happen Either of these View answer Correct answer: (A)
198. On the acceptance of an offer by a offeree
Only the acceptor becomes bound by accepting the offer Only the offeror becomes bound as his terms are accepted Both the acceptor and offeree becomes bound by the contract None of these View answer Correct answer: (C)
199. Which of the following persons are not competent to contract?
Minors Persons of unsound mind Persons disqualified by law All of these View answer Correct answer: (D)
200. When the consent of a party is obtained by coercion undue influence, fraud or misrepresentation, the contract is;
Void Voidable Valid Illegal View answer Correct answer: (B)