Business Law MCQS With Answers 121 to 130

 

Business Law

121. The Law of Contract in India is contained in

1. Indian Contract Act 1862
2. Indian Contract Act 1962
3. Indian Contract Act 1872
4. Indian Contract Act 1972

Correct answer: (C)
Indian Contract Act 1872

122. In case of illegal agreements the collateral agreements are

1. Valid Contract
2. Void Contract
3. Voidable Contract
4. None of these

Correct answer: (B)
Void Contract

123. Consideration must move at the desire of:

1. Promisor
2. Promisee
3. Any other person
4. Any of these

Correct answer: (A)
Promisor

124. A minor's liability for 'necessaries' supplied to him

1. Arises after he attains majority age
2. Is against only minor's property
3. Does not arise at all
4. Arises if minor gives a promise for it

Correct answer: (B)
Is against only minor's property

125. When the consent of a party is obtained by fraud, the contract is

1. Void
2. Voidable
3. Valid
4. Illegal

Correct answer: (B)
Voidable

126. An agreement is void if it is opposed to public policy. Which of the following is not covered by heads of public policy.

1. Trading with an enemy
2. Trafficking in public offices
3. Marriage brokerage contracts
4. Contracts to do impossible acts

Correct answer: (D)
Contracts to do impossible acts

127. A, B and C jointly promised to pay Rs.6000 to D. Before the performance of the contract, C dies. Here the contract;

1. Becomes void on C's death
2. Should be performed by A and B along with C's legal representatives
3. Should be performed by A and B alone
4. Should be renewed between A, B and D

Correct answer: (B)
Should be performed by A and B along with C's legal representatives

128. In case of breach of contract, which of the following remedy is available to the aggrieved party?

1. Suit for recission
2. Suit for damages
3. Suit for specific performance
4. All of these

Correct answer: (D)
All of these

129. A agrees to pay Rs.1,00,000 to B if he brings a star from the sky. This is a contingent contract and

1. Illegal
2. Valid
3. Voidable
4. Void

Correct answer: (D)
Void

130. In the above question, the communication of acceptance is complete against A on 28th Dec.1998 and against B on;

1. 25th Dec.1998
2. 27th Dec.1998
3. 28th Dec.1998
4. 30th Dec.1998

Correct answer: (D)
30th Dec.1998

Business Law

Saturday, January 8, 2022

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