Business Law MCQs With Answers 31. If there is error in cause, the contract I
void voidable valid illegal View answer Correct answer: (B)
32. A contingent contract is
void voidable valid illegal View answer Correct answer: (C)
33. A lends Rs. 500 to B. He later tells B that he need not repay the amount, the contract is discharged by
breach waiver novation performance View answer Correct answer: (B)
34. The measure of damages in case of breach of a contract is the difference between the
contract price and the market price at the date of breach contract price and the maximum market price during the term of the contract contract price and the price at which the plaintiff might have sold the goods, contract price and the price fixed by court. View answer Correct answer: (A)
35. A minor has been supplied necessaries on credit
he is not liable he is personally liable his estate is liable he is not personally liable View answer Correct answer: (C)
36. Any variance made without surety's consent in the terms of the contract between the principal debtor and thecreditor discharges the surety
as to transactions prior to variance Coffee as to transactions subsequent to variance as to all transactions fromhis liability under the guarantee. View answer Correct answer: (B)
37. The doctrine of caveat emptor applies
incase of implied conditions and warranties Coffee when the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment when goods are sold by sample when goods are sold by description View answer Correct answer: (A)
38. A condition is a stipulation which is a
essential to the main purpose of contract of sale not essential to the main purpose of contract of sale, collateral to the main purpose of contract of sale none of the above. View answer Correct answer: (A)
39. A contract
may be void as originally entered into may become void subsequent to its formation cannot become void under any circumstances may become void at the will of party. View answer Correct answer: (B)
40. A letter of acceptance sufficiently stamped and duly addressed is put into course of transmission. There is
a contract voidable at the option of acceptor a contract voidable at the option of offerer, no contract at all, a valid View answer Correct answer: (D)