Business Law
191. An offer may lapse by
- Revocation
- Counter Offer
- Rejection of offer by offeree
- All of these
Correct answer: (D)
All of these
192. Which of the following statement is true?
- There can be a stranger to a contract
- There can be a stranger to a consideration
- There can be a stranger to a contract & consideration
- None of the above
Correct answer: (B)
There can be a stranger to a consideration
193. Ordinarily, a minor's agreement is
- Void ab initio
- Voidable
- Valid
- Unlawful
Correct answer: (A)
Void ab initio
194. The threat to commit suicide amounts to
- Coercion
- Undue influence
- Misrepresentation
- Fraud
Correct answer: (A)
Coercion
195. On the valid performance of the contractual obligations by the parties, the contract;
- Is discharged
- Becomes enforceable
- Becomes void
- None of these
Correct answer: (A)
Is discharged
196. In case of anticipatory breach, the aggrieved party may treat the contract;
- As discharged and bring an immediate action for damages
- As operative and wait till the time for performance arrives
- Exercise option either (a) or (b)
- None of these
Correct answer: (C)
Exercise option either (a) or (b)
197. A contingent contract depend on the happening of the future uncertain event can be enforced when the event;
- Happens
- Becomes impossible
- Doesn't happen
- Either of these
Correct answer: (A)
Happens
198. On the acceptance of an offer by a offeree
- Only the acceptor becomes bound by accepting the offer
- Only the offeror becomes bound as his terms are accepted
- Both the acceptor and offeree becomes bound by the contract
- None of these
Correct answer: (C)
Both the acceptor and offeree becomes bound by the contract
199. Which of the following persons are not competent to contract?
- Minors
- Persons of unsound mind
- Persons disqualified by law
- All of these
Correct answer: (D)
All of these
200. When the consent of a party is obtained by coercion undue influence, fraud or misrepresentation, the contract is;
- Void
- Voidable
- Valid
- Illegal
Correct answer: (B)
Voidable
Saturday, January 8, 2022