Business Law 91. A person who finds good belonging to another and takes them into his custody ,is subject to the same responsibility as a
bailee true owner bailor pledge. View answer Correct answer: (A)
92. Ordinary damages are damages which
arise in the usual course of things from the breach which are in the contemplation of the parties at the time when the contract is made are agreed in advance are given by way of punishment for breach of contract. View answer Correct answer: (A)
93. An agreement to do an act impossible in itself
is void, is voidable is void ab initio becomes void when impossibility is discovered View answer Correct answer: (A)
94. When two or more persons have made a joint promise, then unless a contrary intention appears from the contract,all such persons must fulfill the promise
jointly severally jointly and severally jointly or severally View answer Correct answer: (A)
95. A contract of insurance is a
contract of guarantee contingent contract wagering agreement unilateral agreement. View answer Correct answer: (B)
96. If there is a unilateral mistake as regards identity of a party caused by fraud of he other party , the contract is
void, voidable, valid illegal View answer Correct answer: (B)
97. Consideration
must move from the promisee, may move from the promisee or any other person may move from the third party may move from the promisor. View answer Correct answer: (B)
98. A contract is
a legal obligation an agreement plus a legal obligation consensus ad idem, agreement plus a legal object. View answer Correct answer: (B)
99. Consideration must be something which the promisor
is already bound to do, is not already bound to do. may voluntarily do must not do. View answer Correct answer: (B)
100. Where consent is caused by fraud or misrepresentation , the contract is
voidable at the option of the aggrieved party void unenforceable not affected in any manner View answer Correct answer: (A)