Business Law

All agreements are contracts but all contracts are not agreements.

• TRUE

• False

__________ is a contract which is enforceable at the option of the aggrieved party

• valid

• void

• voidable

• Quasi

All illegal contracts are void contracts

• True

• False

• May be

When a contract is made without consideration it is-

• Void

• Voidable

• Valid

• Illegal

An advertisement to sell a thing by auction is-

• an offer

• Invitation to offer

• No offer at all

• An agreement

An offer made to the world at large-

• Specific Offer

• Standing Offer

• Social Offer

• General offer

A agrees to sell his motor car worth rupees 80,000 for rupees 5000 only to a friend and his consent is free. The contract is -

• Valid

• Void

• Voidable

• Unlawful

Which of the following statements is correct?

• A stranger to consideration cannot sue

• A stranger to a contract can sue

• Consideration may move from promisee only

• Compromise of a pending suit is a good consideration for a fresh agreement

Committing an act forbidden by the IPC with a view to obtaining the consent of a party to a contract, amounts to-

• Undue Influence

• Coercion

• Fraud

• Misrepresentation

In case of breach of condition , the party gets the right to-

• Repudiate the contract

• Sue for damages only

• Both

• None