Business Law MCQs With Answers 21. A agreed to sell 100 shares to B at Rs. 75 per share delivery to be given on the 1st march, B refused to accept delivery on 1st march as price had gone down to Rs. 60 per share. Subsequently A sold these shares at Rs.92 per share
A cannot recover any damages from B A will have to restore to BRs. 1700 i.e. the profit he made A caan recover dameges to be determined by the President of the stock exchange. View answer Correct answer: (C)
22. A finder of lost goods is a
bailor Baile true owner thief View answer Correct answer: (B)
23. A guarantee obtained by a creditor by keeping silence as to material circumstances is
valid voidable unenforceable invalid View answer Correct answer: (D)
24. If a price is not determined by the parties in a contract of sale , the buyer is bound to pay
the price demanded by the seller, a reasonable price the price which the buyer thinks is reasonable the price to be determined by a third independent person. View answer Correct answer: (B)
25. In case of breach of a warranty , the buyer can
repudiate the contract claim damages only return the goods refuse to pay the price refuse to take delivery of the goods. View answer Correct answer: (B)
26. Law of contract is
not the whole of agreements nor is it the whole law of obligations the whole law of agreements the whole law of obligations none of the above. View answer Correct answer: (A)
27. A specific offer can be accepted by
any person any friend of offerer the person to whom it is made any friend of offeree. View answer Correct answer: (C)
28. Consideration
must be adequate to the promise made, need not be adequate to the promise made must be of reasonable value must be of more value than the value of promise made. View answer Correct answer: (B)
29. A promise to subscribe to a charity. The promise is a
valid contract, voidable contract, void agreement void contract. View answer Correct answer: (C)
30. A contract by an idot is
voidable enforceable invalid void ab inito View answer Correct answer: (D)