Business law -Quiz 2

An agreement made without consideration is

• valid

• illegal

• 1. voidable

• 1. void

On the face of the ticket for a journey the words ― for conditions see back are printed in small print. The passenger ________________

• 1. is bound by the conditions whether he takes care to read them or not

• 1. is not bound by the conditions

• 1. may not take note of the conditions

• 1. none of the above

A specific offer can be accepted by

• 1. any person

• 1. any friend of offerer

• 1. the person to whom it is made

• 1. any friend of offeree

Consideration

• 1. must be adequate to the promise made

• 1. need not be adequate to the promise made

• 1. must be of reasonable value

• 1. must be of more value than the value of promise made

A contract by an idot is

• 1. voidable

• 1. enforceable

• 1. invalid

• 1. void ab inito

A minor has been supplied necessaries on credit

• 1. he is not liable

• 1. he is personally liable

• 1. his estate is liable

• 1. he is not personally liable

A letter of acceptance sufficiently stamped and duly addressed is put into course of transmission. There is

• 1. a contract voidable at the option of acceptor

• a contract voidable at the option of offerer

• no contract at all

• 1. a valid

Contracts made before war with an alien enemy which are against public policy are

• 1. suspended and are revived after the war is over.

• 1. dissolved

• 1. not affected at all

• 1. void ab initio

A person enters into an agreement whereby he is bound to do something which is against his public or professional duty. The agreement is

• 1. void on the ground of public policy

• 1. valid

• 1. voidable

• 1. illegal

Flaw in a capacity to contract may arise from

• 1. want of consideration

• 1. unsoundness of mind

• 1. illegality of object

• 1. uncertainty of object