Quiz on Commercial Law

Quiz on Commercial Law

Professional Development

110 Qs

quiz-placeholder

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Quiz on Commercial Law

Quiz on Commercial Law

Assessment

Quiz

Business

Professional Development

Practice Problem

Hard

Created by

madhyala rajitha

Used 1+ times

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110 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As per Section 2(h) of the Indian Contract Act, a contract is:

A promise enforceable by law

An agreement enforceable by law

A lawful promise

A lawful act

A lawful fact

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a quasi-contract primarily intended to prevent?

Unjust enrichment

Breach of contract

Violation of public policy

Failure of consideration

consideration

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Clayton's Rule relates to:

Priority of payments among multiple debts

Revocation of offers

Formation of agency

Determination of consideration

Consideration

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The liability of a guarantor under Section 128 of INDIAN CONTRACT ACT is:

Primary

Co-extensive with that of the principal debtor

Independent

Collateral

Mortgage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary element of a valid contract?

Free consent

Consideration

Legal enforceability

All of the above

Compensation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What distinguishes a void contract from a voidable one?

Enforceability

Legal object

Time limit for revocation

Indemnity

Compensation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under Section 6 of INDIAN CONTRACT ACT, an offer can be revoked by:

Notice

Lapse of time

Death of offeror

All of the above

Time Lapse

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