The rule enunciated by Section 65 of Indian Contract Act, 1872 is applicable to agreements which are discovered void by
A. Mistake
B. Failure of consideration
C. Impossibility
D. All the above
Select an option to see the answer and solution.
Who can appoint an agent
A. A minor of sound mind
B. A major of sound mind
C. A person of unsound mind
D. Both A and B
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Change of the nature of the obligation in a contract is known as:
A. Rescission
B. Novation
C. Renovation
D. Alteration
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Wagering Agreement are
A. Valid
B. Void
C. Voidable
D. Both A and C
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"A" enters into a contract with 'B' to buy his colour T.V., provided be obtains bank loan. This contract is called:
A. A valid contract
B. Contingent contract
C. Voidable contract
D. None of these
Select an option to see the answer and solution.
A contract which is valid initially however, ceases to be enforceable subsequently, the contract-
A. Remains valid
B. Becomes voidable when it ceases to be enforceable
C. Becomes void when it ceases to be enforceable
D. Becomes void since inception
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Which contract is specifically enforceable?
A. Contract by 'B' to deliver a lecture of law at Jabalpur University
B. Contract of Marriage
C. Contract by 'B' with 'A' to supply goods as of when 'A' requires
D. None of these
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A gratuitous bailment is terminated:-
A. On the death of the bailor
B. On the death of the bailee
C. On the death either of bailor or bailee
D. On the death of bailor and bailee both
Select an option to see the answer and solution.
Assertion (A): An agreement the object of which is opposed to the law, is void.
Reason (R): A valid contract requires that parties must contract for a lawful object.
Select the correct answer from the given below:
A. Both (A) and (R) are true and (R) is the correct explanation of (A)
B. Both (A) and (R) are true and (R) is not the correct explanation of (A)
C. (A) is true, but (R) is false
D. (A) is false, but (R) is true
Select an option to see the answer and solution.
The principle of agency of necessity is
A. Applicable in emergent situations where communication with the principal is not possible
B. Applicable in normal situations if the communication with the principal is possible
C. Unknown to the law of agency
D. None of the above
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In which of the following types of contract, consideration is not necessary?
A. Partnership
B. Agency
C. Pledge
D. Bailment
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Promises which form the consideration or part of the consideration for each other are called
A. Reciprocal promises
B. Cross offer
C. Conditional offer
D. Conditional promises
Select an option to see the answer and solution.
What is reasonable time for performance of a contract
A. Is a question of fact
B. Is a question of law
C. Is a mixed question of fact & law
D. Is a question of prudence
Select an option to see the answer and solution.
A guarantee
A. Has to be in written
B. Can be oral
C. Can be oral or in writing
D. Neither A nor B
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In which of the following sections, the Indian Contract Act embodies the rule of Clayton's case relating to appropriation of payments?
A. Section 62
B. Section 59
C. Section 58
D. Section 61
Select an option to see the answer and solution.
"Continuing Guarantee" has been defined
A. Under Section 124 of the Indian Contract Act
B. Under Section 129 of the Indian Contract Act
C. Under Section 146 of the Indian Contract Act
D. Under Section 147 of the Indian Contract Act
Select an option to see the answer and solution.
A contract between an insurance company and vehicle owner to save the later from consequences of a vehicular accident is a contract of
A. Guarantee
B. Surety
C. Bailment
D. Indemnity
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Whether release of one co-surety discharge the others
A. Yes
B. No
C. To the extent of the share of discharged co-surety
D. None of these
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Which one of the following agreements is held to be opposed to public policy?
A. The arbitration clause for the application of foreign law
B. Payment in foreign currency
C. Agreement for payment of less salary
D. Arbitrators residing in the foreign country
Select an option to see the answer and solution.
Extent of surety's liability has been provided under contract Act in:-
A. Section 124
B. Section 126
C. Section 127
D. Section 128
Select an option to see the answer and solution.