Business Law (MCQs) Set-2
Categories: OTHERS
Q.1. The case of Satyabrata Ghose v. Mugneeram Bangur & co. (1954) deals with
- agreement opposed to public policy
- Supervening impossibility
- contract of guarantee
- agency
Answer: (A) agreement opposed to public policy
Q.2. A person enters into an agreement whereby he is bound to do something which is against his public orprofessional duty. The agreement is:
- void on the ground of public policy
- valid
- voidable
- illegal
Answer: (A) void on the ground of public policy
Q.3. A minor enters into a contract for the purchase of certain necessaries, in such case
- he is not personally liable to pay
- he is liable to pay
- his estate is liable to pay
- his guardian is liable to pay.
Answer: (C) his estate is liable to pay
Q.4. Flaw in a capacity to contract may arise from
- want of consideration
- unsoundness of mind
- illegality of object
- uncertainty of object.
Answer: (B) unsoundness of mind
Q.5. I there is error in consensus, the agreement is
- void
- voidable
- avoid
- illegal
- not affected at all.
Answer: (A) void
Q.6. An agreement to do an impossible act is,
- void
- voidable
- illegal
- enforceable under certain circumstances.
Answer: (A) void
Q.7. When a party to a contract transfers his contractual rights to another, it is known as,
- rescission of contract
- waiver of contract
- discharge of contract,
- assignment of contract.
Answer: (D) assignment of contract.
Q.8. A creditor agrees with his debtor and a third party to accept that third party as his debtor. The contract is discharged by,
- performance
- alteration
- waiver
- remission
- remission
Answer: (C) waiver
Q.9. Anticipatory breach of a contract takes place
- during the performance of the contract
- at the time when the performance is due.
- before the performance is due
- at the time when the contract is entered into.
Answer: (C) before the performance is due
Q.10. Exemplary damages are
- allowed in case of dishounor of a cheque by a banker having sufficient funds
- the difference between the contract price and the market price
- allowed where in case of breach of a contract , the plaintiff has not suffered any loss.
- none of these.
Answer: (A) allowed in case of dishounor of a cheque by a banker having sufficient funds