Business Law part 1

The law of contract in India is contained in

• Indian Contract Act 1871

• Indian Contract Act 1872

• Indian Contract Act 1873

• Indian Contract Act 1874

Indian contract act is based on

• The Hiss act

• The Mann act

• English common law

• Consumer Protection Act

Contract= agreement+ (a)  

Indian Contract Act is applicable in

• Whole of India

• Jammu and Kashmir

• In union territories

• Whole of India except Jammu and Kashmir

An agreement not enforceable by law is

• Valid Agreement

• Void Agreement

• Voidable Agreement

• Illegal Agreement

Identify the famous personality

(a)  

According to the Indian Contract Act, a person of unsound mind is a person who is a

• Idiot

• Lunatic

• Drunken person

• All of the above

Persons disqualified to contract under law are

• Alien Enemy

• Individuals

• Convicts

• Artificial persons

A contract without consideration is

(a)  

Consent is not free when it is obtained by

• Mistake

• Fraud

• Misrepresentation

• Undue Influence

• All of the above