Business Law (MCQs) Set-1
Categories: Education
Q.1. The Law of Contract in India is contained in
- Indian Contract Act 1862
- Indian Contract Act 1962
- Indian Contract Act 1872
- Indian Contract Act 1972
Answer: (C) Indian Contract Act 1872
Q.2. In case of illegal agreements the collateral agreements are
- Valid Contract
- Void Contract
- Voidable Contract
- None of these
Answer: (B) Void Contract
Q.3. Consideration must move at the desire of:
- Promisor
- Promisee
- Any other person
- Any of these
Answer: (A) Promisor
Q.4. A minor's liability for 'necessaries' supplied to him
- Arises after he attains majority age
- Is against only minor's property
- Does not arise at all
- Arises if minor gives a promise for it
Answer: (B) Is against only minor's property
Q.5. When the consent of a party is obtained by fraud, the contract is
- Void
- Voidable
- Valid
- Illegal
Answer: (B) Voidable
Q.6. An agreement is void if it is opposed to public policy. Which of the following is not covered by heads of public policy.
- Trading with an enemy
- Trafficking in public offices
- Marriage brokerage contracts
- Contracts to do impossible acts
Answer: (D) Contracts to do impossible acts
Q.7. A, B and C jointly promised to pay Rs.6000 to D. Before the performance of the contract, C dies. Here the contract;
- Becomes void on C's death
- Should be performed by A and B along with C's legal representatives
- Should be performed by A and B alone
- Should be renewed between A, B and D
Answer: (B) Should be performed by A and B along with C's legal representatives
Q.8. In case of breach of contract, which of the following remedy is available to the aggrieved party?
- Suit for recission
- Suit for damages
- Suit for specific performance
- All of these
Answer: (D) All of these
Q.9. A agrees to pay Rs.1,00,000 to B if he brings a star from the sky. This is a contingent contract and
- Illegal
- Valid
- Voidable
- Void
Answer: (D) Void
Q.10. In the above question, the communication of acceptance is complete against A on 28th Dec.1998 and against B on;
- 25th Dec.1998
- 27th Dec.1998
- 28th Dec.1998
- 30th Dec.1998
Answer: (D)