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Indian Contract Act MCQ question and answer | Law MCQ question

Indian Contract Act MCQ question and answer with easy explanations in Law MCQ. Indian Contract Act MCQ section is suitable for aspirants preparing for competitive exams like NET, UPSC, JRF, SET,UGC NET other law exams etc. Page-7 section-8

Each section contains 100 MCQs on Indian Contract Act .
61
Contract Act- A contract of life insurance is a
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Answer & Solution
Answer: Option A
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62
Every promise and every set of promises forming the consideration for each other is
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Answer: Option A
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63
Consider the following statements:
1. A contract formed by coercion and undue influence is vitiated and voidable at the option of the party whose consent is so obtained.
2. A contract formed, where both the parties are under mistaken notion about the existence of the subject matter, is void.
Which of the statements given above is/are correct?
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Answer: Option C
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64
Satyabrat Ghose v. Mangneeram Bangur (1954 SC) is a case on
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Answer: Option C
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65
Read Assertion (A) and Reason (R) and give the correct answer with the help of given below:
Assertion (A): Acceptance is to offer what a lighted match is to a train of gunpowder.
Reason (R): Acceptance cannot be separated from offer.
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Answer: Option B
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66
Novation of a contract under Indian Contract Act, means:
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Answer: Option D
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67
S, a singer, enters into a contract with W, the owner of a theatre to sing at his theatre on Mondays and Tuesdays every weak. Before S could begin her performance the theatre was completely destroyed in an earthquake. The contract
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Answer: Option C
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68
The surety stands discharged
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Answer & Solution
Answer: Option D
Solution:
The surety is discharged in the following circumstances:

By Revocation: A surety can revoke the guarantee for future transactions by giving notice to the creditor. However, he remains liable for past transactions.

By Death: Unless there is a contract to the contrary, the death of the surety operates as a revocation of a continuing guarantee in respect of future transactions.

By Variance in Terms: If the terms of the contract between the principal debtor and the creditor are changed without the consent of the surety, then the surety is discharged from liability as he did not agree to the new terms.

Hence, the surety stands discharged in all the scenarios mentioned in options A, B, and C.
69
The mode of communicating or revoking recession of voidable contract will be according to which Section of the Indian Contract Act, 1872?
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Answer: Option C
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70
A' in consideration that 'B' will employ 'C' in collecting the rent of B's Zamindari, promises 'B' to be responsible to the amount of Rs. 5,000 for the due collection and payment by 'C' of those rents. This is:
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Answer: Option C
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