Indian Contract Act MCQ question and answer | Law MCQ question Page-5 section-12

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41.
Ghanshyam and Afzal are good friends. They are traders and together keep on doing business transaction very often. In April 2016, they enter in a contract. Afzal has certain confidential information from his private sources about some change in prices that would affect Ghanshyam's willingness to proceed with the contract. As per Indian Contract Act, 1872, identify which of the following is applicable.

A. Afzal is bound to inform Ghansyham about the change in price because he is a close friend to him

B. Afzal is bound to inform Ghanshyam about the change in price-because they have been doing business transactions together

C. Afzal is bound to inform Ghanshyam about the change in price because otherwise that would amount to fraud since it would clearly show Afzal's intentions to mislead Ghansham

D. Afzal is not bound to inform Ghanshyam about the change in price

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42.
A's son forged B's name to a promissory note. B under threat of prosecuting A's son obtains a bond from A for the amount of the forged note. If B sues on this bond the court

A. Has no jurisdiction in this case

B. Must not set aside the bond

C. May set aside the bond

D. None of above

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43.
In a valid contract, what comes first

A. Enforceability

B. Acceptance

C. Promise

D. Proposal

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44.
For the purpose of pledge, delivery of possession of goods

A. Has to be actual

B. May be constructive

C. Either actual or constructive

D. May be symbolic

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45.
The acceptance must be

A. Received within a week

B. Received within a fortnight

C. Absolute and unqualified

D. Absolute and qualified

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46.
When consent to an agreement is caused by misrepresentation under Indian Contract Act, 1872 the agreement is:

A. Void

B. Valid

C. Voidable

D. Illegal

E. None of the above

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47.
An agreement not enforceable by law is said to be:

A. Void contract

B. Voidable contract

C. Illegal contract

D. Quasi-contract

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48.
Mistake as to law in force in India makes the contract:

A. Void

B. Voidable

C. Neither void nor voidable

D. Impossible to perform

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49.
"Commercial impossibility is no impossibility at all." This rule of law was laid down by the Supreme Court in the case of

A. Banwarilal v. Sukhdarshan

B. Satyabrat Ghose v. Mugneeram & Co.

C. M/s. Bhagwandas v. M/s. Girdharilal

D. Seth Mohanlal v. Grain Chambers

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50.
Mohit lends Rs. One Lakh to Som where Narain was the surety. The contract in this transaction provided that the liability of Narain is limited to Rs. 50,000. The contract is:

A. Void

B. Irregular

C. Voidable

D. Valid

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Indian Contract Act MCQ question and answer | Law MCQ question

Answer & Solution

42. A's son forged B's name to a promissory note. B under threat of prosecuting A's son obtains a bond from A for the amount of the forged note. If B sues on this bond the court

Answer & Solution

43. In a valid contract, what comes first

Answer & Solution

44. For the purpose of pledge, delivery of possession of goods

Answer & Solution

45. The acceptance must be

Answer & Solution

46. When consent to an agreement is caused by misrepresentation under Indian Contract Act, 1872 the agreement is:

Answer & Solution

47. An agreement not enforceable by law is said to be:

Answer & Solution

48. Mistake as to law in force in India makes the contract:

Answer & Solution

49. "Commercial impossibility is no impossibility at all." This rule of law was laid down by the Supreme Court in the case of

Answer & Solution

50. Mohit lends Rs. One Lakh to Som where Narain was the surety. The contract in this transaction provided that the liability of Narain is limited to Rs. 50,000. The contract is:

Answer & Solution

Read More Section(Indian Contract Act)

42.
A's son forged B's name to a promissory note. B under threat of prosecuting A's son obtains a bond from A for the amount of the forged note. If B sues on this bond the court

43.
In a valid contract, what comes first

44.
For the purpose of pledge, delivery of possession of goods

45.
The acceptance must be

46.
When consent to an agreement is caused by misrepresentation under Indian Contract Act, 1872 the agreement is:

47.
An agreement not enforceable by law is said to be:

48.
Mistake as to law in force in India makes the contract:

49.
"Commercial impossibility is no impossibility at all." This rule of law was laid down by the Supreme Court in the case of

50.
Mohit lends Rs. One Lakh to Som where Narain was the surety. The contract in this transaction provided that the liability of Narain is limited to Rs. 50,000. The contract is: