The Indian Contract (Amendment) Act, 1997 has amended:
A. Section 26 of the Indian Contract Act
B. Section 27 of the Indian Contract Act
C. Section 28 of the Indian Contract Act
D. Section 75 of the Indian Contract Act
Select an option to see the answer and solution.
Which of the following Sections of the Indian Contract Act, 1872 defines 'Consideration'?
A. Section 2(a)
B. Section 2(b)
C. Section 2(c)
D. Section 2(d)
Select an option to see the answer and solution.
B is A's daughter. A and B enter into a contract. A has private information of a change in price which would affect B's willingness to proceed with the contract. A did not give this information to B. State whether the contract
A. Is void but not illegal
B. Is valid
C. Is voidable at the option of B
D. Is void because of being illegal
Select an option to see the answer and solution.
Match the items of
List I with the items of
List II and choose the correct answer from the given below.
List I (Section of Indian Contract Act 1872)
List II (Definition)
a. Section 2(f)
1. Proposal
b. Section 2(e)
2. Promisor and Promisee
c. Section 2(a)
3. Reciprocal Promises
d. Section 2(c)
4. Agreement
A. a-1, b-3, c-2, d-4
B. a-3, b-4, c-2, d-1
C. a-3, b-4, c-1, d-2
D. a-4, b-2, c-3, d-1
Select an option to see the answer and solution.
Section 73 of the Contract Act applies to contract
A. For sale of moveable properties
B. For sale of immoveable properties
C. Both A and B
D. None of the above
Select an option to see the answer and solution.
Point out the incorrect statement:
A. A party who rightfully rescinds a contract is entitled to compensation for his damages
B. Where a person gives any bond for the performance of any act in which the public is interested, he shall be liable upon its breach, to pay the whole sum mentioned therein
C. A party to the contract complaining of the breach is not entitled to receive any compensation from the other party, if no actual damage or loss is proved to have been caused thereby
D. The rule of compensation for loss or damages caused due to the breach of a contract contained in Section 73 of the Contract Act, does not apply to void agreements
Select an option to see the answer and solution.
Which of the following is not an essential of a contract of guarantee
A. Concurrence of three parties
B. Surety's distinct promise to be answerable
C. Liabilities to be legally enforceable
D. Existence of only one contract
Select an option to see the answer and solution.
A person is deemed to be in a position to dominate the will of another by undue influence if the mental capacity is affected temporarily or permanently by
A. Reason of age
B. Reason of illness
C. Mental or bodily distress
D. All the above
Select an option to see the answer and solution.
Match
List-I with
List-II and select the correct answer using the given below the lists:
List-I
List-II
a. Doctrine of frustration
1. Taylor v. Caldwell
b. Special damages
2. Hochester v. Dela Tour
c. Anticipatory breach of contract
3. Tinn v. Hoffman & Co.
d. Cross-offer
4. Hadley v. Baxendale
A. a-1, b-4, c-2, d-3
B. a-2, b-4, c-3, d-1
C. a-3, b-4, c-1, d-2
D. a-1, b-2, c-2, d-4
Select an option to see the answer and solution.
Indian Contract Act:- A 'contract of insurance' is a contract of-
A. Guarantee
B. Bailment
C. Agency
D. Indemnity
Select an option to see the answer and solution.
An agreement to 'sale of goodwill' for a specified area, to which the purchaser agreed is . . . . . . . .
A. Void
B. Voidable
C. Valid
D. None of the above
Select an option to see the answer and solution.
Consider the following statements:
1. A shopkeeper's catalogue of price is not an offer.
2. An auctioneer's announcement that specified goods will be sold by auction on a certain day is not an offer to hold the auction.
Which of the statements given above is/are correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
Select an option to see the answer and solution.
Two persons have the capacity to contract under section 11
A. If both are major
B. If both are not of unsound mind
C. If none is declared unqualified to contract
D. All are correct
Select an option to see the answer and solution.
An offer which is allowed to remain open for acceptance over a period of time is known as:
A. Invitation to offer
B. Cross offer
C. Standing offer
D. Specific offer
Select an option to see the answer and solution.
Under Indian Contract Act, when does an agreement becomes a contract?
A. It is enforceable by law
B. It is between parties competent to contract
C. It is by the free consent of parties
D. All of the above
Select an option to see the answer and solution.
The intimation under Section 59 of the Indian Contract Act, 1872
A. Must be implied
B. Must be expressed
C. May be either expressed or implied
D. None of the above
Select an option to see the answer and solution.
Nudum Pactum means
A. Without consideration
B. Invalid contract
C. Void contract
D. Voidable contract
Select an option to see the answer and solution.
On which of the following grounds a party to a contract cannot be discharged from performing it?
A. Destruction of the subject matter
B. Change of circumstances
C. Commercial hardship
D. Non-occurrence of a contemplated event
Select an option to see the answer and solution.
When a party to a contract fails to perform a contract within the fixed time:
A. Such contract remains valid provided the promise is fulfilled whether at the time of performance or later
B. Such a contract becomes void
C. Such contract becomes voidable at the option of the promise, if the intention of the parties was that time should be of essence of the contract
D. Such a contract becomes voidable at the option of the promisor or promise and the intention of the parties does not matter
Select an option to see the answer and solution.
"Consideration is the recompense given by the party contracting to the other": Above definition is attributed to . . . . . . . .
A. Pollock
B. Justice Patterson
C. Cheshire and Fifoot
D. Blacstone
Select an option to see the answer and solution.