Business Law 181. An agreement made with free consent to which the consideration is lawful but inadequate is;
Void Valid Voidable Unlawful View answer Correct answer: (B)
182. A contract with the minor, which is beneficial for him, is;
Void ab initio Voidable Valid Illegal View answer Correct answer: (C)
183. When the consent to an agreement is obtained by coercion, the agreement is voidable at the option of
Either party to the agreement A party whose consent was so obtained A party who obtained the consent None of these View answer Correct answer: (B)
184. Where the consent of both the parties is given by mistakes, the contract is;
Void Valid Voidable Illegal View answer Correct answer: (A)
185. A mistake as to law not in force in India has the same effect as;
Mistake of fact Mistake of Indian Law Fraud Misrepresentation View answer Correct answer: (A)
186. An agreement in restraint of legal proceedings is void. It does not cover an agreement which
Restrict absolutely the parties from enforcing their legal rights. Cuts short the period of limitation Discharges a party from liability or extinguishes the rights of a party Provides for a reference to arbitration instead of court of law View answer Correct answer: (D)
187. The basis of 'quasi contractual relations' is the
Existence of a valid contract between the parties Prevention of unjust enrichment at the expense of others Provision contained in section 10 of the Contract Act Existence of a voidable contract between the parties View answer Correct answer: (B)
188. The special damages ie, the damages which arise due to so a special or unusual circumstances
Are not recoverable altogether Are illegal being punitive in nature Cannot be claimed as a matter of right Can be claimed as a matter of right View answer Correct answer: (C)
189. When the offeree offers to qualified acceptance of the offer subject to modifications and variations he is said to have made a
Standing, open or continuing offer Counter offer Cross offer Special offer View answer Correct answer: (B)
190. Which is the following is false? An offer to be valid must;
Intend to create legal relations Have certain and unambiguous terms Contain a term the non‐compliance of which would amount to acceptance Be communicated to the person to whom it is made View answer Correct answer: (C)