Business Law MCQs With Answers 41. Compromise of dispute claims
is a good consideration for a contract is not a good consideration for a contract results in a void agreement is not permitted by law. View answer Correct answer: (A)
42. Contracts made before war with an alien enemy which are against public policy are
suspended and are revived after the war is over. dissolved not affected at all void ab initio View answer Correct answer: (B)
43. When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is
misrepresentation fraud undue influence coercion. View answer Correct answer: (A)
44. The Case of Cundy v. Lindsay (1878)deals with
Coercion undue influence mistake as to the nature of transaction mistake as regards identity View answer Correct answer: (D)
45. Promises forming consideration for each other are known as,
independent promises dependent promises reciprocal promises. mutual promises View answer Correct answer: (C)
46. A contract has become more difficult of performance due to some un-contemplated events or delays .The contract
is discharged is not discharged becomes void becomes voidable. View answer Correct answer: (B)
47. The court may grant rescission where the contract is
voidable at the option of the plaintiff void unenforceable illegal View answer Correct answer: (A)
48. Quantum meruit means
a non gratuitous promise an implied promise as mush as earned as much as is paid. View answer Correct answer: (C)
49. In a sale ,if the goods are destroyed , the loss falls on
the buyer the seller partly on buyer and partly on seller the seller if price has not been paid by the buyer. View answer Correct answer: (A)
50. The omission of the creditor to sue within the period of limitation
discharges the surety does not discharge the surety makes the contract of guarantee void makes thecontract of guarantee illegal. View answer Correct answer: (B)