BUSINESS LAWS

A Void agreement is one which is

• Valid but not enforceable

• Enforceable at the option of both parties

• Enforceable at the option of one party

• Not enforceable in a court of law

An offer may lapse by:

• Revocation

• Counter offer

• Rejection of offer by offeree

• All of these

A notice in the newspaper inviting tenders is

• A proposal

• An invitation to proposal

• A promise

• An invitation for negotiation

A agrees to pay ₹1000 to B if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes

• Valid

• Void

• Voidable

• Illegal

When offer is made to a definite person, it is known as

• General Offer

• Cross Offer

• Counter Offer

• Special Offer

Consideration must move at the desire of

• Promisor

• Promisee

• Any othet person

• All of the above

Consideration in simple terms means:

• Anything in return

• Something in return

• Everything in return

• Nothing in return

Past consideration means

• Consideration and promise should move together

• Executed consideration

• Consideration is provided prior to the marking of the contract

• Invaild consideration

On the valid performance of the contractual obligations by the parties, the contract

• Is discharged

• Becomes enforceable

• Becomes void

• None of these

Generally, the following damages are not recoverable?

• Ordinary damages

• Special damages

• Remote damages

• Nominal damages