WorksheetsBusiness Law
Total questions: 20
Worksheet time: 11mins
When A parks the car in paid parking lot, there is a _________ contract
Bilateral
Executory
Implied
Express
A transaction collateral to illegal agreement is illegal
True
False
The case Balfour v Balfour laid down which essential of a valid contract?
No consideration no contract
Intention to create legal obligations
Certainty of terms
Possibility of performance
'A' sells to 'B' (A's daughter) a horse which 'A' knows to be unsound. 'A' says nothing to 'B' about the unsoundness of the horse.
Silence here does not amount to fraud
Silence here amounts to fraud
'A' has committed misrepresentation.
A has committed coercion
Doctrine of privity of contract means..
Stranger to consideration cannot sue
Consideration must flow from the party to the contract
Stranger to contract can sue
Stranger to contract cannot sue
Mark the statements that are true
Consideration must be adequate
Agreement without consideration is valid
Contract of agency is valid without consideration
Agreement to compensate for past voluntary service is valid
Which statement is false
Promise to give a gift is valid
Completed gift is valid
While taking a life insurance policy, in reply to questions by the insurance company during the inquiry into his proposal, Zameer deliberately concealed the fact of his medical treatment for a serious ailment, which he had undergone only a few weeks ago.
(A) The act of Zameer did not amount to fraud, as disclosing the fact would have resulted in exposure of his privacy.
(B) The act of Zameer amounted to innocent misrepresentation.
(C) The act of Zameer did not amount to any misrepresentation.
(D) The concealment of fact by Zameer amounted to fraud.
Unsoundness of mind may arise from..
Idiocy
Drunkenness
Old age
Hypnotism
Subsequent adoption and acceptance of some previous act is called
Restitution
Ratification
Remission
Rescission
Which statement is false?
Minor can be made a partner for profits
Minor can be an agent
Minor is personally liable for necessaries
There is no estoppel against minors
Which of the following are not fiduciary relationship
Guru and devotee
Creditor and debtor
Solicitor and client
Mother and daughter
__________ leads to a voidable contract
Fraud
Coercion
Misrepresentation
All of the above
Mistake of law of the country leads to ...
Valid Contract
Void contract
Voidable contract
Void agreement
Wagering agreements are
Valid
Voidable
Void
Illegal
A bet on a horse race is valid when bet is for
Less than 500 rupees
More than 500 rupees
Always valid
Always void
Finder of lost goods has a better title than everyone else in the world including the owner
True
False
Discharge by mutual consent may be by
Novation
Alteration
Waiver
All of the above
The acceptance of a lesser performance is called
Restitution
Ratification
Remission
Rescission
Termination of a contract is called
Restitution
Ratification
Remission
Rescission
