Read Assertion (A) and Reason (R) and answer using given below:Assertion (A): Compensation is recoverable for any loss or damage which the parties knew at the time of the contract as unlikely to result from the breach of the contract.Reason (R): Because above rule is laid down in Hadley v. Baxendale case.
A. Both (A) and (R) are correct and (R) is correct reason for (A)
B. Both (A) and (R) are wrong
C. (A) is right, but (R) is wrong
D. (R) is right, but (A) is wrong
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Where A a tenant, pays the property tax on behalf of owner B, who is bound to pay it, A is
A. Entitled to be reimbursed by B
B. Not entitled to reimbursed by B
C. Himself have to bear such tax
D. Both A and B have to bear such tax equally
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A contract caused by mistake of law not in force in India:
A. Is void
B. Is voidable
C. Has the same effect as though it was caused by a mistake of fact
D. None of the above
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A frustration of contract entails if the performance is
A. Commercially impossible
B. Restricted by Government rules & regulations
C. Destruction of subject matter
D. All of the above
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An agreement to refer the dispute to the arbitrator is valid
A. In respect of disputes already arisen
B. In respect of disputes which may arise in future
C. Both A and B
D. Neither A nor B
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Whether all agreements made without consideration are void?
A. No
B. Yes
C. No, if permIssIon from court is obtained
D. None of the above
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A contract with B to pay B Rs. 1,000 if he fails to pay B Rs. 500 on that day.
A. B is entitled to recover form A such compensation, not exceeding Rs. 1,000, as the Court considers reasonable
B. B is entitled to recover form A such compensation, not exceeding Rs. 2,000, as the Court considers reasonable
C. B is entitled to recover form A such compensation, not exceeding Rs. 3,000, as the Court considers reasonable
D. None of these
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Where one of the parties is under a mistake as to matter of fact the contract is
A. Valid
B. Void
C. Voidable
D. Illegal
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Which of the following deals with "Continuing guarantee" in the Indian Contract Act, 1872?
A. Section 129
B. Section 126
C. Section 123
D. Section 130
Select an option to see the answer and solution.
Creditor is a person
A. To whom the guarantee is given
B. Who gives the guarantee
C. In respect of whose default the guarantee is given
D. None of the above
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In which of the following circumstances original contract need to be performed?
A. Novation
B. Rescission
C. Alteration
D. Stipulation
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A having contracted with B to supply B with 1000 tons of iron at 100 Rs. a ton, to be delivered at a stated time, contracts with C for the purchase of 1000 tons of iron at 80 Rs. a ton, telling C that he requires so for the purpose of performing his contract in B. C fails to perform, A will be entitled to
A. Loss with he suffered @ Rs. 20 per ton
B. No compensation
C. Compensation for loss of profit alongwith any damages which he might have to pay to B on account of breach
D. None of the above
Select an option to see the answer and solution.
If a minor's guardian makes a contract with an insurance company insuring minor's property against fire, in the event of fire
A. The minor is entitled to enforce his claim for compensation for loss of property against the insurance company
B. The minor is not entitled to enforce his claim for compensation for loss of property against the insurance company
C. The guardian of the minor is entitled to enforce his claim for compensation for loss of property against the insurance company
D. No one is not entitled to enforce his claim for compensation for loss of property against the insurance company as the contract is void
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A' promises 'B' a job in government service and 'B' promises to pay? 10,000 for it. The agreement is-
A. Void
B. Voidable
C. Enforceable on the direction of Government
D. Enforceable on the direction of the High Court
Select an option to see the answer and solution.
Right of lien, of an agent
A. Is extinguished by his parting with the possession of the goods
B. Is extinguished by destruction of goods accidentally
C. Both A and B are correct
D. Neither A nor B is correct
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Which of the following does not vitiate free consent under the provisions of Contract Act?
A. Mistake of law in force in India
B. Misrepresentation by mistake
C. Mistake of fact by parties to the contract
D. Undue influence
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Duty to mitigate damages on the part of injured party arises
A. In cases of anticipatory breach
B. In cases of breach at the time fixed for performance of the contract
C. Both A and B
D. Either A or B
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Two or more persons are said to consent when
A. They agree
B. They agree upon the same thing
C. They agree upon the same thing in the same sense
D. They agree upon the same thing in the same sense at the given location
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In standard form contracts
A. The individual has no choice but to accept
B. The individual has many choices to accept or refuse
C. The agreement is without consideration
D. None of the above
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A contracts with B to deliver to him, at a specified price, certain merchandise on board a ship which cannot arrive for a month, and B engages to pay for the merchandise within a week from the date of the contract. B does not pay within a week.
A. A's promise to deliver and need not be performed
B. A's promise to deliver and needs to be performed
C. B must make compensation
D. Both A and C
Select an option to see the answer and solution.
