Business law 4

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

When a party to a contract transfers his contractual rights to another, it is known as,

• 1. rescission of contract

• 1. waiver of contract

• discharge of contract

• 1. assignment of contract

  
  

A creditor agrees with his debtor and a third party to accept that third party as his debtor . The contract is discharged by,

• 1. alteration

• 1. waiver

• 1. remission

• 1. remission

Anticipatory breach of a contract takes place

• 1. during the performance of the contract

• at the time when the performance is due

• 1. before the performance is due

• at the time when the contract is entered into

Exemplary damages are

• 1. allowed in case of dishonour of a cheque by a banker having sufficient funds

• 1. the difference between the contract price and the market price

• 1. allowed where in case of breach of a contract , the plaintiff has not suffered any loss

• none of these

A wagering agreement is

• forbidden by law

• immoral

• 1. opposed to public policy

• none of the above

A undertakes to paint a picture of B. He dies before he paints the picture. The contract

• 1. is discharged by death

• 1. becomes voidable

• 1. becomes voidable at the option of the legal representatives of A

• 1. will have to be performed by the legal representatives of A

S and P go into a shop, S says to the shopkeeper C , let P have the goods and if he does not pay , I will pay― This is a

• 1. contract of guarantee

• 1. contract of indemnity

• 1. wagering agreement

• 1. quasi contract

Owing to a strike in the factory of A, he is not able to supply the goods to B as per the terms of the agreement > The agreement in such a case

• 1. is discharged

• 1. is not discharged

• 1. becomes void

• 1. is voidable at the option of A

when an agreement is discovered to be void ,any person who has received any advantage under such agreement

• 1. is bound to restore it

• 1. is not bound to restore it

• 1. is not bound to return it

• 1. may retain it