Business Law MCQS With Answers 141 to 150

 

Business Law

141. Which of the following statement is true?

1. A contract with a minor is voidable at the option of the minor
2. An agreement with the minor can be ratified after he attains majority
3. A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind
4. A person who is usually of an sound mind cannot enter into contract even when he is of a unsound mind

Correct answer: (D)
A person who is usually of an sound mind cannot enter into contract even when he is of a unsound mind

142. Which of the following statement is true?

1. A threat to commit suicide does not amount to coercion
2. Undue influence involves use of physical pressure
3. Ignorance of law is no excuse
4. Silence always amounts to fraud

Correct answer: (C)
Ignorance of law is no excuse

143. A contract is discharged by recission which means the;

1. Change in one or more terms of the contract
2. Acceptance of lesser performance
3. Abandonment of rights by a party
4. Cancellation of the existing contract

Correct answer: (D)
Cancellation of the existing contract

144. Generally, which of the following damages are not recoverable?

1. Ordinary damages
2. Special damages
3. Remote damages
4. Nominal damages

Correct answer: (C)
Remote damages

145. A, by a letter dated 25th December 1998, offers to sell his house to B for Rs.10 lakhs. The letter reaches on 27th Dec.1998, who posts his acceptance on 28th Dec. 1998 which reaches A on 30th Dec.1998. Here the communication of offer is completed on;

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

Correct answer: (B)
27th Dec.1998

146. For entering into a contract, a minor is a person who has not completed the age of;

1. 16 years
2. 18 years
3. 20 years
4. 21 years

Correct answer: (B)
18 years

147. A threatens to kill B if he does not agrees to sell his scooter from him for Rs.1000. Here B's consent is obtained by

1. A undue influence
2. Fraud
3. Coercion
4. None of these

Correct answer: (C)
Coercion

148. Which of the following statement is false?

1. A contract is not voidable if fraud or misrepresentation does not induce the other party to enter a contract.
2. A party cannot complain of fraudulent silence or misrepresentation if he had the means of discovering the truth with ordinary means
3. In case of fraud or misrepresentation, aggrieved party can either rescind or affirm the contract
4. A party who affirms the contract , can also change his option afterwards if he so decides

Correct answer: (D)
A party who affirms the contract , can also change his option afterwards if he so decides

149. The consideration or object of agreement is considered unlawful, if is

1. Forbidden by law
2. Fraudulent
3. Immoral
4. All of these

Correct answer: (D)
All of these

150. An agreement in restraint of marriage, ie, which prevents a person from marrying is

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

Correct answer: (C)
Void

Business Law

Wednesday, January 12, 2022

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