Question 1

A positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true is said to be a:

Accepted Answer

A)  fraud
B)  misrepresentation
C)  mistake
D)  misinterpretationE) A) and B)
F) All of the above B

Question 2

Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:

Accepted Answer

A)  he is not illiterate and can read and understand the terms of the contract.
B)  he is capable of understanding the contract and forming a rational judgement as to its effect upon his interests.
C)  he is of the age of majority and is not disqualified from contracting by any law to which he is subject.
D)  he is not suffering from any mental disease or distress.E) None of the above
F) B) and C)

Question 3

Two or more persons are said to consent when they agree upon

Accepted Answer

A)  the same thing in the same sense
B)  the same thing in any sense
C)  the same thing in a specific sense
D)  none of theseE) A) and C)
F) A) and D)

Question 4

A contract entered into between the parties by words is called-

Accepted Answer

A)  express contract
B)  implied contract
C)  quasi contract
D)  specific contractE) B) and D)
F) All of the above

Question 5

General offer can be accepted by

Accepted Answer

A)  any person
B)  specific person
C)  any person having notice of it
D)  none of theseE) B) and C)
F) All of the above

Question 6

Agreement caused by a bilateral mistake of fact is-

Accepted Answer

A)  void
B)  voidable
C)  illegal
D)  validE) C) and D)
F) A) and C)

Question 7

Which of the following statement is true

Accepted Answer

A)  an agreement enforceable by law is a contract
B)  an agreement is an accepted proposal
C)  both (a)  and (b) 
D)  none of theseE) C) and D)
F) A) and C)

Question 8

A contract for the benefit of a minor entered into by his manager is

Accepted Answer

A)  illegal
B)  voidable
C)  void
D)  validE) None of the above
F) A) and D)

Question 9

In case of void agreements, collateral transactions are

Accepted Answer

A)  also void
B)  unenforceable
C)  not affected
D)  illegalE) A) and B)
F) B) and D)

Question 10

A void agreement is one which is

Accepted Answer

A)  valid but not enforceable
B)  enforceable at the option of both the parties
C)  enforceable at the option of one party
D)  not enforceable in a court of lawE) All of the above
F) C) and D)

Question 11

The Indian Contract Act, 1872 applies to the

Accepted Answer

A)  whole of india including jammu & kashmir
B)  whole of india excluding jammu & kashmir
C)  states notified by the government every year
D)  northern and eastern indian statesE) All of the above
F) A) and B)

Question 12

A jus in personam means a right against

Accepted Answer

A)  a specific person
B)  the public at large
C)  a specific thing
D)  none of theseE) A) and B)
F) B) and C)

Question 13

Contract with minor is

Accepted Answer

A)  illegal
B)  valid
C)  void
D)  voidableE) A) and B)
F) A) and C)

Question 14

When an offer can be accepted only by the person to whom it is made, it is called-

Accepted Answer

A)  express offer
B)  general offer
C)  specific offer
D)  implied offerE) B) and C)
F) None of the above

Question 15

A contract is made where

Accepted Answer

A)  x agrees with y to discover a treasure by magic
B)  x bids at a public auction
C)  x takes a sit in a public omni bus
D)  x promises in writing to give rs. 500 to yE) C) and D)
F) All of the above

Question 16

A minor can:

Accepted Answer

A)  be an agent
B)  be a principal
C)  both
D)  none of theseE) A) and B)
F) A) and C) A

Question 17

Which of the following case is not covered by the concept of supervening impossibility?

Accepted Answer

A)  destruction of subject matter
B)  death or incapacity of the promisor
C)  outbreak of war
D)  difficulty of performanceE) None of the above
F) A) and B)

Question 18

Which of these is a wagering contract?

Accepted Answer

A)  insurance contract
B)  teji mandi contract
C)  lottery
D)  all of theseE) B) and D)
F) None of the above

Question 19

If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:

Accepted Answer

A)  special damages
B)  nominal damages
C)  liquidated damages
D)  compensatory damagesE) A) and D)
F) C) and D)

Question 20

Which of the following is not an essential element of a valid contract:

Accepted Answer

A)  adequacy of consideration
B)  capacity to contract
C)  free consent
D)  none of the aboveE) B) and D)
F) A) and D) A

Exam 1: Understanding the Indian Contract Act and Essential Elements of Contracts

A positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true is said to be a:

Correct AnswerverifiedB

Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:

Correct AnswerverifiedShow Answer

Two or more persons are said to consent when they agree upon

Correct AnswerverifiedShow Answer

A contract entered into between the parties by words is called-

Correct AnswerverifiedShow Answer

General offer can be accepted by

Correct AnswerverifiedShow Answer

Agreement caused by a bilateral mistake of fact is-

Correct AnswerverifiedShow Answer

Which of the following statement is true

Correct AnswerverifiedShow Answer

A contract for the benefit of a minor entered into by his manager is

Correct AnswerverifiedShow Answer

In case of void agreements, collateral transactions are

Correct AnswerverifiedShow Answer

A void agreement is one which is

Correct AnswerverifiedShow Answer

The Indian Contract Act, 1872 applies to the

Correct AnswerverifiedShow Answer

A jus in personam means a right against

Correct AnswerverifiedShow Answer

Contract with minor is

Correct AnswerverifiedShow Answer

When an offer can be accepted only by the person to whom it is made, it is called-

Correct AnswerverifiedShow Answer

A contract is made where

Correct AnswerverifiedShow Answer

A minor can:

Correct AnswerverifiedA

Which of the following case is not covered by the concept of supervening impossibility?

Correct AnswerverifiedShow Answer

Which of these is a wagering contract?

Correct AnswerverifiedShow Answer

If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:

Correct AnswerverifiedShow Answer

Which of the following is not an essential element of a valid contract:

Correct AnswerverifiedA

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B

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A

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A