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Sunday, March 17, 2013

Business Legislation; Top 100 Objective Questions-MCQ


"Indian Contract Act 1872": Top 100 Important MCQ/ Objective type Questions 

Tags; ICA-1872, Indian Contract Act-1872, Business Legislation, Business Regulatory Framework, Mercantile Laws, Commercial Laws, Business Laws, Important Questions in Commerce, B.Com (Hons) M.com, CA-CPT, University Exams, Interview Questions, Competitive Questions In Law.

Important MCQ (Multiple Choice Questions) 

(Quesion Nos:1-25 | 26-50 | 51-75 | 76-100 )

1. An agreement enforceable by Law is known as….
(a) enforceable acceptance
(b) accepted offer
(c) approved promise
(d) contract

2. Every promise and every set of promises, forming the consideration for each other, is an
(a) agreement
(b) contract
(c) offer
(d) acceptance.

3. Promises which form the consideration or part of the consideration for each other are called
(a) reciprocal promises
(b) cross offers
(c) conditional offer
(d) conditional promises.

4. An agreement not enforceable by law is stated to be void under
(a) section 2(d)
(b) section 2(e)
(c) section 2(f)
(d) section 2(g).

5. Void agreement signifies
(a) agreement illegal in nature
(b) agreement not enforceable by law
(c) agreement violating legal procedure
(d) agreement against public policy.

6. Offer as defined under section 2(a) is
(a) communication from one person to another
(b) suggestion by one person to another
(c) willingness to do or abstain from doing an act in order to obtain the assent of other thereto
(d) none of the above.

7. Under section 2(b) if the person to whom the proposal is made signifies his assent the proposal is said to have been
(a) accepted
(b) agreed
(c) provisionally agreed
(d) tentatively accepted.

8. A proposal when accepted becomes
(a) promise under section 2(b)
(b) agreement under section 2(e)
(c) contract under section 2(h)
(d) none of the above.

9. When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such act or abstinence or promise under section 2(d) is called
(a) reciprocal promise
(b) consideration for the promise
(c) counter offer
(d) acceptance.

10. Promises which form the consideration or part thereof, for each other under section 2(F) are called
(a) acceptances for different proposals
(b) agreements
(c) reciprocal promises
(d) consideration.

11. Every promise or set of promises forming the consideration for each other under section 2(e) is called
(a) reciprocal promise
(b) contract
(c) agreement
(d) none of the above.

12. An agreement enforceable by law at the instance of one party & not of other party under section 2(i) is called
(a) a valid contract
(b) an illegal contract
(c) void contract
(d) a voidable contract.

13. Which is correct
(a) proposal + acceptance = promise
(b) promise + consideration = agreement
(c) agreement + enforceability = contract
(d) all the above.

14. In a valid contract, what comes first
(a) enforceability
(b) acceptance
(c) promise
(d) proposal.

15. Under section 2(c) promisor is the
(a) person who makes the proposal
(b) person who accepts the proposal
(c) person who makes the promise
(d) person to whom the proposal is made.

16. Under section 2(c) promisee is the
(a) person who makes the proposal
(b) person who accepts the proposal
(c) person who makes the promise
(d) person to whom proposal is made.

17. Goods displayed in a shop with a price tag is an
(a) offer
(b) invitation to offer
(c) counter offer
(d) none of the above.

18. Tender is
(a) an offer
(b) an invitation to offer
(c) a counter offer
(d) a promise.

19. Communication of a proposal is complete
(a) when it is put in the course of transmission
(b) when it comes to the knowledge of the person to whom it is made
(c) when the proposal is communicated to the person to whom it is made
(d) all the above.

20. Communication of acceptance is complete as against the proposer
(a) when it comes to the knowledge of the proposer
(b) when it is put in the course of transmission to him so as to be out of power of the acceptor
(c) when the acceptance is communicated to the proposer
(d) all the above.

21. Communication of acceptance is complete as against the acceptor
(a) when it comes to the knowledge of the proposer
(b) when it is put in the course of transmission
(c) when it is communicated to the acceptor that the acceptance has reached the proposer
(d) when the proposer conveys the acceptance to the acceptor.

22. Revocation of offer by letter or telegram can be complete
(a) when it is despatched
(b) when it is received by the offeree
(c) when it reaches the offeree
(d) both (a) and (c).

23. Acceptance to be valid must
(a) be absolute
(b) be unqualified
(c) both be absolute & unqualified
(d) be conditional.

24. A contract with or by a minor is a
(a) valid contract
(b) void contract
(c) voidable contract
(d) voidable at the option of either party.

25. A contract which ceases to be enforceable by law becomes void
(a) when it ceases to be enforceable
(b) before it ceases to be enforceable
(c) no such condition necessary
(d) none of above.

Next>>>  | 26-50 | 51-75 | 76-100  on

"Indian Contract Act 1872": Top 100 Important MCQ



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