Q.1. An offer may lapse by
- Revocation
- Counter Offer
- Rejection of offer by offeree
- All of these
Answer: (D) All of these
Q.2. 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
Answer: (B) There can be a stranger to a consideration
Q.3. Ordinarily, a minor's agreement is
- Void ab initio
- Voidable
- Valid
- Unlawful
Answer: (A) Void ab initio
Q.4. The threat to commit suicide amounts to
- Coercion
- Undue influence
- Misrepresentation
- Fraud
Answer: (A) Coercion
Q.5. On the valid performance of the contractual obligations by the parties, the contract;
- Is discharged
- Becomes enforceable
- Becomes void
- None of these
Answer: (A) Is discharged
Q.6. 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
Answer: (C) Exercise option either (a) or (b)
Q.7. 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
Answer: (A) Happens
Q.8. 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
Answer: (C) Both the acceptor and offeree becomes bound by the contract
Q.9. Which of the following persons are not competent to contract?
- Minors
- Persons of unsound mind
- Persons disqualified by law
- All of these
Answer: (D) All of these
Q.10. When the consent of a party is obtained by coercion undue influence, fraud or misrepresentation, the contract is;
- Void
- Voidable
- Valid
- Illegal
Answer: (B) Voidable