Business Law
181. An agreement made with free consent to which the consideration is lawful but inadequate is;
- Void
- Valid
- Voidable
- Unlawful
Correct answer: (B)
Valid
182. A contract with the minor, which is beneficial for him, is;
- Void ab initio
- Voidable
- Valid
- Illegal
Correct answer: (C)
Valid
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
Correct answer: (B)
A party whose consent was so obtained
184. Where the consent of both the parties is given by mistakes, the contract is;
- Void
- Valid
- Voidable
- Illegal
Correct answer: (A)
Void
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
Correct answer: (A)
Mistake of fact
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
Correct answer: (D)
Provides for a reference to arbitration instead of court of law
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
Correct answer: (B)
Prevention of unjust enrichment at the expense of others
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
Correct answer: (C)
Cannot be claimed as a matter of right
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
Correct answer: (B)
Counter offer
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
Correct answer: (C)
Contain a term the non‐compliance of which would amount to acceptance
Saturday, January 8, 2022