Indian Contract Act MCQ question and answer

61

The Indian Contract (Amendment) Act, 1997 has amended:

A) Section 26 of the Indian Contract Act B) Section 27 of the Indian Contract Act C) Section 28 of the Indian Contract Act D) Section 75 of the Indian Contract Act

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Answer & Solution

Answer: Option C

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62

Which of the following Sections of the Indian Contract Act, 1872 defines 'Consideration'?

A) Section 2(a) B) Section 2(b) C) Section 2(c) D) Section 2(d)

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Answer & Solution

Answer: Option D

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63

B is A's daughter. A and B enter into a contract. A has private information of a change in price which would affect B's willingness to proceed with the contract. A did not give this information to B. State whether the contract

A) Is void but not illegal B) Is valid C) Is voidable at the option of B D) Is void because of being illegal

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Answer & Solution

Answer: Option D

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64

Match the items of List I with the items of List II and choose the correct answer from the given below.

List I (Section of Indian Contract Act 1872)	List II (Definition)
a. Section 2(f)	1. Proposal
b. Section 2(e)	2. Promisor and Promisee
c. Section 2(a)	3. Reciprocal Promises
d. Section 2(c)	4. Agreement

A) a-1, b-3, c-2, d-4 B) a-3, b-4, c-2, d-1 C) a-3, b-4, c-1, d-2 D) a-4, b-2, c-3, d-1

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Answer & Solution

Answer: Option C

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65

Section 73 of the Contract Act applies to contract

A) For sale of moveable properties B) For sale of immoveable properties C) Both A and B D) None of the above

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Answer & Solution

Answer: Option C

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66

Point out the incorrect statement:

A) A party who rightfully rescinds a contract is entitled to compensation for his damages B) Where a person gives any bond for the performance of any act in which the public is interested, he shall be liable upon its breach, to pay the whole sum mentioned therein C) A party to the contract complaining of the breach is not entitled to receive any compensation from the other party, if no actual damage or loss is proved to have been caused thereby D) The rule of compensation for loss or damages caused due to the breach of a contract contained in Section 73 of the Contract Act, does not apply to void agreements

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Answer & Solution

Answer: Option C

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67

Which of the following is not an essential of a contract of guarantee

A) Concurrence of three parties B) Surety's distinct promise to be answerable C) Liabilities to be legally enforceable D) Existence of only one contract

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Answer & Solution

Answer: Option D

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68

A person is deemed to be in a position to dominate the will of another by undue influence if the mental capacity is affected temporarily or permanently by

A) Reason of age B) Reason of illness C) Mental or bodily distress D) All the above

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Answer & Solution

Answer: Option D

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69

Match List-I with List-II and select the correct answer using the given below the lists:

List-I	List-II
a. Doctrine of frustration	1. Taylor v. Caldwell
b. Special damages	2. Hochester v. Dela Tour
c. Anticipatory breach of contract	3. Tinn v. Hoffman & Co.
d. Cross-offer	4. Hadley v. Baxendale

A) a-1, b-4, c-2, d-3 B) a-2, b-4, c-3, d-1 C) a-3, b-4, c-1, d-2 D) a-1, b-2, c-2, d-4

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Answer & Solution

Answer: Option A

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70

Indian Contract Act:- A 'contract of insurance' is a contract of-

A) Guarantee B) Bailment C) Agency D) Indemnity

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Answer & Solution

Answer: Option D

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Indian Contract Act MCQ question and answer | Law MCQ question