302B - Commercial Law

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II B. Com [2013 - 2016]

Semester III
Core - Commercial Law -302b
Multiple Choice Questions.
1. A stipulation which is collateral to the main purpose of the contract, and if proves false, gives the buyer
only a right to claim damages, is known as
A. conditions
B. guarantee
C. warranty
D. none of these
ANSWER: C
2. Goods which are in existence at the time of the Contract of Sale is known as
A. ) present Goods
B. specific Goods
C. existing Goods
D. none of the above
ANSWER: C
3. Selection of goods with the intention of using them in performance of the contract and with the mutual
consent of the seller and the buyer is known as
A. distribution
B. amortization
C. appropriation
D. storage
ANSWER: C
4. An auction sale is complete on the

A. delivery of goods
B. fall of hammer
C. payment of price
ANSWER: C
5. If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of cloth, then it is

A. (a) Contract of sale
B. Agreement to sell
C. Barter
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D. Sale on Approval
ANSWER: C
6. A partner can retire on

A. Reaching the age of superannuation
B. On the balance in the capital account reaching a certain amount
C. In accordance with the Partnership Deed
D. On the condition of his nominee becoming a partner
ANSWER: C
7. Which of the following is false? An offer to be valid must:

A. Intend to create legal relations
B. Have certain and unambiguous terms
C. Contain a term the non-compliance of which would amount to acceptance
D. Be communicated to the person to whom it is made.
ANSWER: C
8. Which of the following statement is true?

A. Consideration must result in a benefit to both parties
B. Past consideration is no consideration in India
C. Consideration must be adequate
D. Consideration must be something which a promisor is not already bound to do
ANSWER: D
9. Which of the following is not an exception to the rule no consideration no contract?

A. Compensation for voluntary service
B. Love and affection
C. Contract of agency
D. Gift
ANSWER: A
10. A minors liability for necessaries supplied to him

A. Arises after he attains majority age
B. Is against only minors property
C. Does not arise at all
D. Arises if minor gives a promise for it
ANSWER: B
11. An agreement is void if it is opposed to public policy. Which of the following is not covered by heads
of public policy?
A. Trading with an enemy
B. Trafficking in public offices
C. Marriage brokerage contracts
D. Contract to do an impossible acts
ANSWER: D
12. Which of the following person can perform the contracts?

A. Promisor alone
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B. Legal representative of promisor

C. Agent of the promisor
D. All these above
ANSWER: D
13. A, B and C jointly promised to pay Rs. 60,000 to D. Before performance of the contract , C dies. Here,
the contract,
A. Becomes void on Cs death
B. Should be performed by A and B along with Cs legal representatives
C. Should be performed by A and B alone
D. Should be renewed between A, B and C
ANSWER: B
14. Generally, which of the following damages are not recoverable?

A. Ordinary damages
B. Special damages
C. Remote damages
D. Nominal damages
ANSWER: C
15. A mistake as to a law not in force in india has the same effect as,
A. Mistake of fact
B. Mistake of Indian law
C. Fraud
D. Misrepresentation
ANSWER: A
16. The term Goods under the sale of goods act, 1930 does not include,
A. Goodwill
B. Actionable claim
C. Stocks and shares
D. Harvested crops
ANSWER: B
17. Which of the following is not an implied condition in a contract of sale?

A. Condition as to title
B. Condition as to description
C. Condition as to free from encumbrance
D. Condition as to sample
ANSWER: C
18. Which of the following is not a form of delivery?

A. Constructive delivery
B. Structured delivery
C. Actual delivery
D. Symbolic delivery.
ANSWER: B
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19. Mercantile agent is having an authority to

A. Sell or consign of goods
B. Raise money on the security of goods
C. Sell or buy goods
D. Any of the above
ANSWER: D
20. Doctrine of caveat emptor

A. Let the seller beware
B. Let the buyer beware
C. Let the creditor beware
D. None of the above
ANSWER: B
21. The most important element in partnership is

A. Business
B. Sharing of profits
C. Agreement
D. Business to be carried by all or any one of them acting for all
ANSWER: D
22. In the absence of an agreement to the contrary all partners are,

A. Not entitled to share profits
B. Entitled to share in capital ratio
C. Entitled to share in proportion to their ages.
D. Entitled to share profits equally
ANSWER: D
23. Active partner is one who,

A. Takes part in the business
B. Actively participate in co-curricular activities
C. Actively share the profits
D. Makes a show of authority
ANSWER: A
24. On dissolution the partners remain liable to till,

A. Accounts are settled
B. Partners due are paid off
C. Public notice is given
D. The registrar strikes off the name
ANSWER: C
25. Which of the following statements, about the registration of firm, is not true?
A. It must be done at the time of formation
B. It may be done at the time of formation
C. It may be done before filing a suit against third party
D. It may be done at any time after its formation
ANSWER: A
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26. 20. An agreement which is enforceable by law at the option of one or more of the parties thereon but
not at the option of the other is a __________.
A. Valid contract
B. Void contract
C. Voidable contract
D. Illegal contract
ANSWER: C
27. When the consent of a party is not free, the contract is ____.
A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: C
28. Ordinarily a minors agreement is _________.

A. Void ab initio
B. Voidable
C. Valid
D. Unlawful
ANSWER: A
29. The threat to commit suicide amount to _______.

A. Coercion
B. Undue influence
C. Misrepresentation
D. Fraud
ANSWER: A
30. An agreement the object or consideration of which is unlawful, is

A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: A
31. A contingent contract is ________.

A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: B
32. A agrees to sell his car worth Rs. 1,00,000 to B for Rs. 20,000 only, and consent of A was obtained by
coercion . Here the agreement is ___________.
A. Void
B. Valid
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C. Voidable
D. Illegal
ANSWER: C
33. A agrees to pay Rs. 5,00,000 to B if B procures an employment for A in income tax department. This
agreement is _____________.
A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: D
34. Agreement for the sale of future goods is ___________.

A. Sale
B. Agreement to sell
C. Void
D. Hire purchase contract
ANSWER: B
35. Agreement-the meaning of which is uncertain is _______.

A. Valid
B. Void
C. Voidable
D. illegal
ANSWER: B
36. Death of partner has the effect of

A. Dissolving the firm
B. Result in continuance of the business of the firm
C. His heirs joining the firm
D. Computation of profits upto the date of death
ANSWER: A
37. Registration of a firm is

A. Compulsory
B. Optional
C. Occasional
ANSWER: B
38. The reconstitution of the firm takes place in case of

A. Admission of a partner
B. Retirement of a partner
C. Expulsion or death of a partner
D. All of the above
ANSWER: D
39. The law of contract in india is contained in
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A. Indian Contract Act, 1862

B. (b) Indian Contract Act, 1962
C. Indian Contract Act, 1872
D. Indian Contract Act, 1972
ANSWER: C
40. A void agreement is one which is:

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 law
ANSWER: D
41. Which of the following is false? An acceptance:

A. (a) Must be communicated
B. (b) Must be absolute and unconditional
C. (c) Must be accepted by a person having authority to accept.
D. May be presumed from silence of offeree.
ANSWER: D
42. A proposal when accepted becomes a

A. Promise.
B. Offer.
C. Contract.
D. Acceptance.
ANSWER: A
43. Which of the following statement is false? Consideration:

A. (a) Must move at the desire of the promisor.
B. (b) May move from any person.
C. Must be illusory.
D. Must be of some value
ANSWER: C

A. (a) A contract with a minor is voidable at the option of the minor.
B. (b) An agreement with a minor can be ratified after he attains majority.
C. (c) A person who is usually of an unsound mind cannot enter into contract even when he is of a sound
mind.
D. (d) A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.
ANSWER: D

A. (a) A threat to commit suicide does not amount to coercion.
B. (b) Undue influence involves use of physical pressure.
C. Ignorance of law is no excuse.
D. Silence always amounts to fraud.
ANSWER: C
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46. On the valid performance of the contractual obligations by the parties, the contract
A. is discharged.
B. becomes enforceable.
C. (c) becomes void.
D. none of these.
ANSWER: A
47. A contract is discharged by rescission which means the

A. (a) change in one or more terms of the contract.
B. (b) acceptance of lesser performance.
C. (c) abandonment of rights by a party.
D. cancellation of the existing contract.
ANSWER: D
48. The Sale of Goods Act, 1930 deals with

A. sale
B. mortgage.
C. pledge.
D. all of the above.
ANSWER: A
49. Which one of the following is/are document of title to goods?

A. railway receipt.
B. wharfingers certificate.
C. warehouse keepers certificate.
D. all of the above
ANSWER: D
50. Which one of the following is not true?

A. (a) Document showing title is different from document of title.
B. (b) Bill of lading is a document of title to goods.
C. (c) Specific goods can be identified and agreed upon at the time of the contract of Sale.
D. None of the above.
ANSWER: D
51. In which form of the contract, the property in the goods passes to the buyer immediately:
A. agreement to sell.
B. hire purchase.
C. sale
D. instalment to sell.
ANSWER: C
52. Which one of the following is not an implied warranty?

A. Warranty as to undisturbed possession.
B. Warranty as to existence of encumbrance.
C. Disclosure of dangerous nature of goods.
D. Warranty as to quality or fitness by usage of trade.
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ANSWER: B
53. A firm is the name of:

A. The Partners
B. The minors in the firm.
C. The business under which the firm carries on business
D. The collective name under which it carries on business.
ANSWER: D
54. A partnership at will is one:

A. which does not have any deed
B. which does not have any partner
C. which does not provide for how long the business will continue
D. which cannot be dissolved.
ANSWER: C
55. Every partner has the right to:

A. Take part in the business of the firm
B. To share exclusive profits
C. To use the property of the firm for personal purposes
D. Pay taxes
ANSWER: A
56. Which of the following is not disability of an unregistered firm?

A. (a) It cannot file a suit against third parties
B. (b) Its partners cannot file a suit against a firm.
C. (c) It cannot claim a set-off exceeding Rs. 100.
D. It cannot be sued by a third party.
ANSWER: D
57. Which of the following is not the right of a partner i.e., which he cannot claim as a matter of right?
A. (a) Right to take part in business.
B. (b) Right to have access to account books.
C. (c) Right to share profits.
D. (d) Right to receive remuneration.
ANSWER: D
58. In case of illegal agreements, the collateral agreements are.

A. Valid.
B. Void.
C. Voidable.
D. None of these.
ANSWER: B
59. Consent is not said to be free when it is caused by

A. Coercion.
B. Undue Influence,
C. Fraud.
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D. All of these.
ANSWER: D
60. Moral pressure is involved in the case of

A. Coercion.
B. Undue Influence.
C. Misrepresentation.
D. Fraud.
ANSWER: B
61. Sometimes, a party is entitled to claim compensation in proportion to the work done by him. It is
possible by a suit for
A. damages
B. injunction
C. quantum meruit
D. none of these.
ANSWER: C
62. A contract dependent on the happening or non-happening of future uncertain event, is a

A. Uncertain contract.
B. Contingent contract.
C. Void contract.
D. Voidable contract.
ANSWER: B
63. A agrees to pay Rs. one lakh to B if he brings on earth a star from sky. This is a contingent contract and
______.
A. Illegal
B. Valid
C. Voidable
D. Void.
ANSWER: D
64. As a general rule, an agreement made without consideration is

A. void
B. voidable
C. valid
D. unlawful
ANSWER: A
65. An agreement made with free consent to which the consideration is lawful but inadequate, is
A. void
B. valid
C. (c) voidable
D. unlawful
ANSWER: B
66. A contract with the minor, which is beneficial for him, is
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A. void ab initio
B. voidable
C. valid
D. illegal
ANSWER: A
67. The essence of a right of lien is to

A. deliver the goods.
B. retain the possession,
C. regain the possession.
D. none of the above.
ANSWER: B
68. If a seller handed over the keys of a warehouse containing the goods to the buyer results in
A. (a) constructive delivery
B. actual delivery
C. symbolic delivery
ANSWER: C
69. Voluntary transfer of possession by one person to another is popularly known as

A. (a) Transfer.
B. Possession.
C. Delivery.
ANSWER: C

A. An agreement is an unaccepted proposal
B. An agreement enforceable by law is a contract
C. An agreement can only consist of an offer
D. An agreement can only consist of an acceptance
ANSWER: B
71. An offer may lapse by:

A. Revocation
B. Counter Offer
C. Rejection of Offer by Offeree
D. All of these
ANSWER: D
72. Consideration must move at the desire of

A. Promisor
B. Promisee
C. Any other person
D. Any of these
ANSWER: A
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73. Which of the following statements is not true about position of minor in a firm?
A. He cannot become a partner in an existing firm
B. He can become a partner in an existing firm
C. He can be admitted only to the benefits of any existing firm
D. (d) He can become partner on becoming a major
ANSWER: C
74. A contract is discharged by novation which means the

A. Cancellation of the existing contract
B. Change in one or more terms of the contract
C. Substitution of existing contract for a new one
D. None of these
ANSWER: C
75. When prior to the due date of performance, the promisor absolutely refuses to perform the contract, it is
known as
A. Abandonment of contract
B. Remission of contract
C. Actual breach of contract
D. Anticipatory breach of contract
ANSWER: D
76. In case of breach of contract, which of the following remedy is available to the aggrieved party?
A. Suit for rescission
B. Suit for damages
C. Suit for specific performance
D. All of these
ANSWER: D
77. After retirement from firm, which of the following partners is not liable by holding out, even if the
public notice of retirement is not given?
A. Active partner
B. Sleeping partner
C. Representative of deceased partner
D. Both (b) and (c)
ANSWER: D
78. A wrong representation when made without any intention to deceive the other party amounts
A. Coercion
B. Undue Influence
C. Misrepresentation
D. Fraud
ANSWER: C
79. 83. A threatens to kill B if he does not agree to sell his scooter to him for Rs. 1,000 only. Here consent
of B is obtained by .
A. Undue influence
B. Fraud
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C. Coercion
D. Mistake
ANSWER: C
80. Where the consent of both the parties is given by mistake, the contract is
A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: A
81. An agreement, which prevents a person from carrying a lawful business, is

A. Valid
B. Void
C. Voidable
D. contingent
ANSWER: A
82. The goods are at the risk of a party who has the
A. Ownership of goods
B. Possession of goods
C. Custody of goods
D. Both (b) and (c)
ANSWER: A
83. In case of unconditional contract of sale, the property passes to the buyer at the time of making the
contract. For this rule to apply, the goods must be .
A. Specific
B. In a deliverable state
C. Physically transferred to buyer
D. both (a) and (b)
ANSWER: D
84. In case of sale of unascertained goods, the ownership is transferred to the buyer when the goods are .
A. Ascertained
B. Appropriated to the contract
C. Weighed and measured
D. Both (a) and (b)
ANSWER: D
85. In case of sale on approval, the ownership is transferred to the buyer when he
A. Accepts the goods
B. Adopts the transaction
C. Fails to return goods
D. In all the above cases
ANSWER: D
86. The bidder at an auction sale can withdraw his bid
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A. Any time during auction

B. Before fall of hammer
C. Before payment of price
D. Cannot withdraw at all.
ANSWER: B
87. A contracts with B to buy a necklace, believing it is made of pearls whereas in fact it is made of
imitation pearls of no value. B knows that A is mistaken and takes no steps to correct the error. Now A
wants to cancel the contract on the basis of fraud. Which of the following statement is correct?
A. A can cancel the contract alleging fraud
B. A cannot cancel the contract
C. A can cancel the contract alleging undue influence
D. A can claim damages
ANSWER: B
88. A timber merchant agreed to supply best teak at a certain agreed price to a builder. Later the merchant
supplied timber which w as identified as ordinary class of timber and demanded the payment from the
builder. Which of the following statements is/are true?
A. Builder can reject the goods and can claim damages
B. (b) Builder has to accept the goods
C. (c) Builder has to pay the price by taking delivery of teak wood
D. (d) Timber merchant cannot plead the doctrine of caveat emptor
ANSWER: A
89. Cross offer means

A. Exchanging identical offers by two parties in ignorance
B. Offer made to the public in general
C. Offer allowed to remain open for acceptance over a period of time
D. Offer made to a definite person
ANSWER: A
90. Valid Contract:

A. (a) In case of this collateral agreements are void
B. (b) Not enforceable in a court of law.
C. (c) An agreement enforceable by law at the option of one or more of the parties thereon brij not at the
option of the other or others
D. Enforceable at the option of both the parties
ANSWER: D
91. Which of the following is a requirement for misrepresentation to exist?

A. Misrepresentation should relate to a material fact
B. The person making a misrepresentation should not believe it to be true
C. It must be made with an intention to deceive the other party
D. All of the above
ANSWER: A
92. Which of the following agreements is void?

A. Agreements made under the unilateral mistake of fact
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B. Agreements made under the bilateral mistake of fact

C. Agreements made under the influence of fraud
D. Contingent agreement
ANSWER: B
93. Which of the following offers constitute a valid offer?

A. An auctioneer displays a TV. set before a gathering in an auction sale
B. Ram who is in possession of three cars purchased in different years says -I will sell you a car.
C. A says to B, Will you purchase my motor cycle for Rs. 20,000?
D. All of the above
ANSWER: C
94. Which of the following statements is true?

A. Even if a proposal is not accepted properly it becomes a valid contract
B. The agreements which are against the public policy can be enforced if the parties are willing to
contract
C. A contract can consist of an offer or an acceptance only
D. Two are more persons are said to consent when they agree upon the same thing in the same sense
ANSWER: D
95. Contract caused by which of the following is void?

A. Fraud
B. Misrepresentation
C. Coercion
D. Bilateral Mistake
ANSWER: D
96. Suppose the time fi xed for performance of the contract was expired but the time is not essential. What
is the remedy of the promisee in the circumstances?
A. Can rescind the contract
B. No remedy available
C. To claim compensation
D. Cannot be determined
ANSWER: C
97. What is legal terminology for the doing or not doing of something which the promisor desires to be
done or not done?
A. Desires
B. Consideration
C. Wishes
D. Promise
ANSWER: B
98. Goods must be the same as wanted by the seller. This is

A. Condition as to description
B. Condition as to wholesomeness
C. Condition as to sample
D. Condition as to title
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ANSWER: A
99. Goods dependant upon certain events which may or may not happen.
A. Unascertained goods
B. Contingent goods
C. Future goods
D. Existing Goods
ANSWER: B
100. Which of the following is a NOT document of title of goods?

A. Bill of Lading
B. Railway Receipt
C. Dock Warrant
D. Performa invoice
ANSWER: D
101. 73. The term GOODS for the purpose of Sale of Goods Act, includes
A. Money
B. Actionable claims
C. Growing crops, grass
D. None of these
ANSWER: C
102. In which of the following cases, the unpaid seller loses his right of lien?
A. Delivery of goods to buyer
B. Delivery of goods to carrier
C. Tender of price by buyer
D. All of these
ANSWER: D
103. In case of sale of standing trees, the property passes to the buyer when trees are
A. Felled and ascertained
B. Counted and ascertained
C. Not felled but earmarked
D. Both (b) and (c)
ANSWER: A
104. Partnership
A. Arises by operation of law
B. Comes into existence only after registration
C. Can arise by agreement or otherwise
D. Arise by way of an agreement only
ANSWER: D
105. X and Y agree to work together as carpenters but X shall receive all profit and shall pay wages to Y.
The relation between X and Y is that
A. Partners
B. Carpenters
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C. Labourers
D. Master-Servant
ANSWER: D
106. Which of the following is an essential feature of partnership?

A. Registration
B. Test of Mutual Agency
C. Separate Legal Entity
D. All of the above
ANSWER: B
107. Implied contract, even if not in writing or express words, is perfectly _________ if other conditions
are satisfied.
A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: B
108. R, an optical surgeon, employs S as the assistant for a term of three years and S agrees not to practice
as a surgeon during this period. This contract is
A. Valid
B. Void
C. (c) Voidable
D. Illegal
ANSWER: A
109. ________ consideration is no consideration in England.

A. Past
B. Present
C. Future
D. Future
ANSWER: A
110. A agrees to pay Rs. 500 to B if it rains, and B promises to pay a like amount to A if it does not rain,
this agreement is called .
A. Quasi Contract
B. Contingent Contract
C. Wagering Agreement
D. Voidable Contract
ANSWER: C
111. When the offeree offers to qualified acceptance of the offer subject to modifications and variations he
is said to have made a .
A. Standing, open or continuing offer
B. Counter Offer
C. Cross Offers
D. Special Offer
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ANSWER: B
112. When after the formation of a valid contract, an event happens which makes the performance of
contract impossible, and then the contract becomes .
A. Void
B. Voidable
C. Valid
D. Illegal
ANSWER: A
113. The basis of quasi contractual relations is the .

A. Existence of a valid contract between the parties
B. Prevention of unjust enrichment at the expense of others
C. Provisions contained in Section 10 of the Contract Act
D. Existence of a voidable contract between the parties
ANSWER: B
114. A agrees to pay Rs. 1000 to B if a certain ship returns within a year. However, the ship sinks within
the year. In this case, the contract becomes
A. Valid
B. Void
C. Voidable
D. Illegal
ANSWER: B
115. Where an agreement consists of two parts one legal and the other illegal, and the legal part is
separable from the illegal one. such legal part is
A. Void
B. Valid
C. Voidable
D. Illegal
ANSWER: B
116. The Sale of Goods Act, 1930 came into force on

A. 15th March, 1930
B. 1st July, 1930
C. 30th July, 1930
D. 30th June, 1930
ANSWER: B
117. Contract of Sale is

A. Executory Contract
B. Executed Contract
C. Executory Contract or Executed Contract
ANSWER: C
118. Where in an auction sale, the seller appoints more than one bidder, the sale is
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A. Void
B. Conditional
C. Illegal
D. Voidable
ANSWER: D
119. Where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buver.
the delivery is
A. Invalid and ineffective
B. Valid and effective
C. Conditional
D. None of these
ANSWER: B
120. The property in the goods means the

A. Possession of goods
B. Ownership of goods
C. Custody of goods
D. Both (a) and (b)
ANSWER: B
121. Untill goods are ascertained there is merely

A. An agreement to sell
B. A breach of condition
C. A breach of warranty
D. All the above
ANSWER: A
122. The rights of an agent against the principal are the following
A. Right of indemnification
B. Right of stoppage in transit
C. Right to compensation
D. All of the above
ANSWER: D
123. Discharge by mutual agreement may involve

A. Novation
B. Recission
C. Alteration
D. All of the above
ANSWER: D
124. A enquires from B, Will you purchase my cow for $ 100? B replies, I shall purchase your cow for $
100 provided you purchase my parrot for $ 120. In this case .
A. B has accepted the offer of A
B. B has accepted the offer of A
C. B has made a counter offer to A
D. B cannot make such an offer
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ANSWER: B
125. A contract was entered before 1st September, 1872 is governed by The Indian Contract Act, 1872
A. (a) Yes if the contract was entered in Indian soil
B. (b) Yes if there was performance of the contract on or after 1st September 1872
C. No as the act does not apply retrospectively
D. (d) No as there was no performance on or after 1st September 1872
ANSWER: C
126. Which of the following is not correct?

A. Joint Hindu Family is governed by law relating to registration of agreements
B. Joint Hindu Family is governed by Hindu Law.
C. Joint Hindu Family is governed by the Civil Procedure Code.
D. Both (a) & (c)
ANSWER: D
127. In case of sale

A. Property in goods passes to the buyer.
B. Risk in the goods passes to the buyer.
C. Both the above.
ANSWER: C
128. Which one of the following is not a contract?

A. A engages B for a certain work and promises to pay such remuneration as shall be fixed by C. B does
the work.
B. A and B promise to marry each other.
C. A takes a seat in a public vehicle.
D. A invites B to a card party. B accepts the invitation.
ANSWER: D
129. Which of the statement is incorrect?

A. All illegal agreements are void but all void agreements are not necessary illegal.
B. A voidable contract is not voidable at the option of the aggrieved party.
C. Contracts that are immoral or opposed to public policy are illegal in nature.
D. All of the above.
ANSWER: B
130. The difference between contingent contract and wagering agreements are as follows:
A. A wagering agreement consists of reciprocal promises whereas a contingent contract may not contain
reciprocal promises.
B. In a wagering agreement the uncertain event is the sole determining factor while in a contingent
contract the event is only collateral.
C. A wagering agreement is void whereas a contingent contract is valid.
ANSWER: D
131. An agreement made without consideration is valid under the Indian Contract Act, 1872 if
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A. The agreement is expresses in writing

B. The agreement is made on account of natural love and affection or the parties to the agreement stand
in a near relation to each other.
C. The document is registered under the law for the time being in force for registration of such
document.
ANSWER: D

A. Minor can always plead minority.
B. Minor is liable for necessaries supplied to him.
C. Minor is a person who has not completed 18 years of age.
D. Minor can be a beneficiary.
ANSWER: B

A. Consideration may be past, present or future.
B. Consideration must be at the desire of the promisor.
C. Consideration need not be adequate, but should be real and supported by free consent
D. Consideration should be always monetary.
ANSWER: D
134. The following may be treated as a breach of warranty:

A. Breach of warranty.
B. Breach of condition.
C. Both the above.
ANSWER: C
135. Registration of a partnership is complete

A. Only after the issue of certificate of Registration by the Registrar of Firms.
B. As soon as an application in the prescribed form with the prescribed fee and other relevant! details is
delivered to the Registrar of Firms.
C. Only after the Registrar of Firms records an entry of the statement in the Register of Firms 1 to this
effect.
D. After giving the information to the Central Government in this regard.
ANSWER: B
136. A company may be in the form of

A. An unincorporated association,
B. incorporated association,
C. Both the above.
ANSWER: A
137. A student was motivated by his teacher to sell his car (value being Rs. 10,00,000/-) for fe 5,00,000/-.
The student sold the same at the desired price of the teacher. The student can sat the teacher on the ground
of:
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A. Undue Influence
B. Misrepresentation.
C. Fraud.
D. Coercion.
ANSWER: A
138. Price- under the Sale of Goods Act, 1930 means

A. Money or moneys worth.
B. Monetary consideration for the sale of goods.
C. Any consideration that can be expressed in terms of money
ANSWER: B
139. Goods that are identified and agreed upon at the time of contract of sale are known as
A. Specific Goods
B. Existing Goods
C. Future Goods
D. Generic Goods
ANSWER: A
140. A contract in which only one party has to fulfill his obligation at the time of the formation of the
contract, the other party having fulfilled his obligation at the time of the contract or before the contract
comes into existence is known as .
A. Unilateral Contract
B. Bilateral Contract
C. Quasi Contract
D. Express Contract
ANSWER: A
141. An offer made to the public in general which anyone can accept and do the desired act is
A. General Offer
B. Special Offer
C. Cross Offer
D. Counter Offer
ANSWER: A
142. In case of an agreement to sell, subsequent loss or destruction of the goods is the liability of
A. The buyer
B. The seller
C. Both the buyer and the seller
D. The insurance company
ANSWER: B
143. An auction sale is an example of .

A. Invitation to treat an offer
B. Mere communication of information in the course of negotiation
C. Statement of intention
D. Offer
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ANSWER: A
144. Agreement for the creation of monopolies .

A. Is allowed in the interest of economy
B. Is opposed to public policy and hence void
C. Is not detrimental to any nation
D. Is impossible because of perfect competition in todays scenario
ANSWER: B
145. Quasi - contracts arise

A. Where obligations are created without a contract
B. (b) Where obligations are created under a contract
C. (d) Out of man-made causes
D. (c) Out of natural causes
ANSWER: A
146. Wagering agreements are

A. Valid
B. Void
C. Unlawful
D. Illegal
ANSWER: B
147. The relationship of principal and agent may arise by.

A. Express or implied agreement
B. Ratification
C. Operation of law
D. All of the above
ANSWER: D
148. Goods that are defined only by description and not identified and agreed upon at the time of contract
of sale are known as
A. Specific Goods
B. Future Goods
C. Existing Goods
D. Unascertained Goods
ANSWER: D
149. Delivery by acknowledgment is

A. Actual Delivery
B. Symbolic Delivery
C. Constructive Delivery
ANSWER: C
150. In case of a sale the position of a buver is that of

A. Owner of the goods
B. Hirer of the goods
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C. Bailee of the goods

ANSWER: A
151. Rights of an unpaid seller include

A. Right against the goods
B. Right of re-sale
C. Right of stoppage in transit
D. All of the above
ANSWER: D
152. Death of a partner ordinarily leads to

A. Death of a partner Dissolution of the partnership.
B. (b) Revision of Revision of the partnership.
C. (c) Reconsidering of Reconsidering of the partnership.
D. (d) Induction of a new partner to carry on the partnership
ANSWER: A
153. A new partner is held liable for all acts of the firm done
A. Before he became a partner
B. After he became a partner
C. any time after even he ceases to be a partner and upto his death.
D. Before or after he became a partner
ANSWER: B
154. A person os deemed to be in a position to dominate the will of the other when he
A. holds real authority over the other
B. holds apparent authority over the other
C. stands in fiduciary relation to the other
D. all the above
ANSWER: D
155. As per the Indian Contract Act, 1872 every person is competent to contract provided he
A. is of the age of majority according to the law to which he is subject.
B. is of sound mind.
C. is not disqualified from contracting by any law to which he is subject
D. all of the above.
ANSWER: D
156. 63. Necessary condition for existing goods is

A. They should be in existence at the time of the contract of sale.
B. They should be owned or possessed by the seller.
C. Both of the above.
ANSWER: C
157. The following are the requisites of a valid ratification of a contract of agency:
A. The whole transaction can be ratified.
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B. Ratification must be communicated to the party who is sought to be bound by the act done by the
agent.
C. Ratification can be of the acts which the principal had the power to do.
ANSWER: D
158. An offer may be made to the following:

A. A particular person.
B. A particular group or body of persons.
C. The public at large i.e. the whole world.
ANSWER: D
159. An agreement induced by mistake of fact is void if the following conditions are fulfilled:
A. Both the parties must be under the same mistake.
B. The mistake must be as to some fact.
C. The fact must be essential to the agreement
ANSWER: D
160. Contracts may be classified on the basis of their validity, formation or performance. Contracts
classified on the basis of formation are of the following types:
A. Express Contracts
B. Implied Contracts.
C. Quasi Contracts
D. All of the above
ANSWER: D
161. A condition may be treated as warranty in the following cases:

A. Where the buyer altogether waives the performance of the condition.
B. Where the buyer elects to treat the breach of condition as one of a warranty.
C. In both of the above situations.
D. In some other situations, but not in the above situations
ANSWER: C
162. Ratification by a minor of a contract entered during minority, even after he attains majority is not
allowed.
A. The above statement is correct
B. The above statement is partly correct.
C. The above statement is incorrect
D. The above statement is irrelevant
ANSWER: A
163. A contract between A, B and C was executed whereby A pays money to B for delivering some goods
to C. C has not paid any consideration. Can C enforce the agreement?
A. Yes, as he is the beneficiary of Trust.
B. Yes but the same can only be done jointly with A.
C. No as C did not pay the consideration
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D. (d) A and only A can enforce the agreement.

ANSWER: A
164. Avoid contract is a contract without any legal effect and cannot be enforced in a Court of law. The
following are instances of void contracts:
A. Agreements entered under mistake of fact.
B. Agreements by way of wager.
C. Agreements made without consideration.
ANSWER: D
165. In case of bailment

A. Property in goods passes to the bailee at the time of contract.
B. Property in goods passes to the bailee upon the payment of the last installment.
C. Property in goods can pass to the bailee at any time after the contract.
ANSWER: D
166. Acceptance is deemed to take place when the buyer

A. Intimates to the seller that he had accepted the goods.
B. Does any act to the goods, which is inconsistent with the ownership of the seller.
C. Retains the goods after the lapse of a reasonable time, without intimating to the seller that he has
rejected them.
D. Either (a) or (b) or (c).
ANSWER: D
167. The rights of a minor when admitted to the benefits of the partnership include
A. Right to share of the property and profits of the firm as may be agreed upon.
B. Right to have access to and inspect and copy of the account of the firm.
C. Right to cast his vote on the question of appointment of the managing partner.
D. (a) & (b) but not (c).
ANSWER: D
168. Which of the following is correct:

A. Liability of a partner in a partnership firm is unlimited.
B. Liability of a member of a HUF is unlimited.
C. Both the above.
ANSWER: A
169. Actual Sale of future goods is

A. Impossible
B. Possible through an agreement to sell
C. Illegal
D. A myth
ANSWER: B
170. An offer made to a definite person which can be accepted by the specified person only is
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A. Special Offer
B. Accepted Offer
C. General Offer
D. Standing Offer
ANSWER: A
171. The position of a stranger to a contract and that of the stranger to a consideration is
A. Partially different
B. Partially same
C. Entirely different
D. Same
ANSWER: C
172. Goods are said to be in a deliverable state when .

A. (a) The buyer may take delivery of them
B. The buyer would, under contract, be bound to take delivery of them
C. The seller is in a position to deliver them
D. All of the above
ANSWER: D
173. Any act committed by a party to a contract, or with his connivance or by his agent with intent to
deceive another party thereto or his agent, or to induce him to enter into a contract is said to be
A. Coercion
B. Coercion
C. Fraud
D. Misrepresentation
ANSWER: C
174. Provisions relating to doctrine of Caveat Emptor is laid down in the .

A. Sale of Goods Act, 1930
B. Indian Contract Act, 1872
C. Indian Partnership Act, 1932
D. Companies Act, 1956
ANSWER: A
175. A directs B who is a solicitor to sell his estate by auction and to employ an auctioneer for this
purpose. B names C, an auctioneer, to conduct the sale. The status of C for the sale is
A. C is an agent of A
B. C is a sub-agent of A
C. C is an agent of B
D. C is neither an agent of A nor of B
ANSWER: A
176. A specific offer can be accepted by

A. Any person
B. Any friend of offerer
C. The person the whom it is made
D. Any friend of offeree
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ANSWER: C
177. A letter of acceptance sufficiently stamped and duly addressed is put into course of transmission. there
is
A. A contract voidable at the option of acceptor
B. A contract voidable at the option of offerer
C. No contract at all
D. A valid contract
ANSWER: D
178. On the face of ticket for a journey the words -for conditions seek back- are printed in small prints. The
passenger
A. 1. Is bound by the conditions whether he takes care to read them or not
B. 2. Is not bound by the conditions
C. 3. May not take note of the conditions
D. 4. Note the all point
ANSWER: A
179. The case of Mohiri Bibi v. Dharmodas Ghose, (1903) 301 cal. 539 deals with______________
A. Communication of offer
B. Communication of acceptance
C. A minors agreement
D. Fraud
ANSWER: C
180. A lends Rs 500 to B. he later tells B that he need not repay the amount, the contract is discharged by
__________
A. Breach
B. Waiver
C. Notation
D. Performance
ANSWER: B
181. Were a contact could not be performed because of the default by a third party on whose work the
promiser relied, it ______________
A. is not discharged
B. Is discharged
C. Becomes void
D. Becomes voidable
ANSWER: B
182. A undertakes to paint a picture of B. he die before he paints the picture. The contract ________
A. Is discharged by death
B. Becomes voidable at the options of B
C. Becomes of voidable at the options of legal representatives of A
D. Will have to performed by legal representatives of A
ANSWER: A
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183. The court may grant rescission were the contract is __________
A. Voidable at the option of the plaintiff
B. Void
C. Unenforceable
D. Illegal
ANSWER: D
184. Specific performance may be ordered by the court when ______________

A. The contract is voidable
B. The damages are an adequate remedy
C. The damages are not an adequate remedy
D. The contract is uncertain
ANSWER: C
185. The amount of ordinary damages in case of breach of a contract is the difference between the
_______________
A. Contract price and the market price at the date of breach
B. Contract price when the maximum market price during the terms of the contract
C. Contract and the price at which the plaintiff might have sold the goods
D. Contract price and the price fixed by the court
ANSWER: A
186. Anticipatory breach of a contract takes place _____________

A. During the performance of the contract
B. At the time when the performance is due
C. Before the performance is due
D. At the time when the contract is entered into
ANSWER: C
187. In case of wrongful dishonor of a cherub by a banker having sufficient fund to the credit of the
customer, the court nay award
A. Ordinary damage
B. Nominal damage
C. Exemplary damage
D. Contemptuous damages
ANSWER: C
188. The contract of indemnity is a _____________

A. Contingent contract
B. Wagering contract
C. Quasi-contract
D. Void agreement
ANSWER: A
189. S and P go into a shop. S says to the shopkeeper - let P have the goods, and if he does not pay you, I
will. This is a __________
A. Contract of guarantee
B. Contract of indemnity
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C. Wagering contract
D. Quasi-contract
ANSWER: A
190. A bailer has _________

A. A right of a particular lien over the goods bailed
B. A right of general lien
C. A right of both particular and general lien
D. No lien at all over the goods bailed
ANSWER: C
191. The position of a finder of lost goods is that of a ______________

A. Bailer
B. Bailee
C. Bailee
D. Principal debtors
ANSWER: C
192. A gratuitous bailment is one which is

A. Supported by consideration
B. Not Supported by consideration
C. Not enforced by law
D. Void
ANSWER: B
193. The transactions collateral to any illegal agreement is _____________

A. Not effected in any manner
B. Also tainted with illegality
C. Voidable at the option of the plaintiff
D. Effected in any manner
ANSWER: B
194. Flaw in capacity to contract may arise from _____________

A. Lack of free consent
B. Lack of consideration
C. Minority
D. Absence of legal formalities
ANSWER: C
195. A makes an offer to B on 10th by a letter which reaches B on 12th. B posts letter of acceptance on
14th which reaches A on 16th. The communication of acceptance is complete as against A
on_____________
A. 12th
B. 14th
C. 16th
D. 15th
ANSWER: C
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196. Generally a person who is not a party to contract _____________

A. Cannot sue
B. Can sue
C. Can sue only in well- recognized cases
D. can sue under contract of guarantee
ANSWER: A
197. A minor, by misrepresenting his age, borrows some money_____________

A. A minor, by He can be sued for fraud
B. He cannot be sued for fraud
C. He is liable to return the money
D. He is not liable to return the money
ANSWER: B
198. A minors enters into a contract for the purchase of certain necessaries. In such a case_____________
A. He is not personally liable to pay
B. He is liable to pay
C. His legal representative is liable to pay
D. His legal representative is not liable to pay
ANSWER: A
199. A contract by an idiot is_____________

A. Voidable
B. Enforceable
C. Invalid
D. Void ab initio
ANSWER: D
200. Contracts made before war with an alien enemy which are against public policy are _____________
A. Suspended and are revived after the war is over
B. Dissolved
C. Not affected at all
D. Void ab initio
ANSWER: D
201. The contractual capacity of a company is regulated by_____________

A. Its memorandum of association and the provision of the companies act, 1956
B. The terms of contract entered into with a third party
C. Its article of association
D. Its prospectus
ANSWER: A
202. Which of the relationships raise presumption of undue influence

A. Land lord and tenant
B. Parents and child
C. Doctor and patient
D. Husband and wife
ANSWER: C
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203. If there is error in consensus, the agreement is _____________

A. Void
B. Voidable
C. unlawful
D. illegal
ANSWER: A
204. An agreement made with an alien enemy is _________

A. Unlawful on the ground of public policy
B. Unlawful because it becomes difficult to be performed
C. Valid
D. Voidable
ANSWER: A
205. When the promisee refuses to accept performance from the promioser who offers to perform, it is
__________
A. Attempted performance
B. Vicarious performance
C. recognised performance
D. unrecognised performance
ANSWER: A
206. When a party to a contract transfers his contractual rights to another, it is known as __________
A. Rescission of contract
B. Waiver of contract
C. Discharge of contract
D. Assignment of contract
ANSWER: D
207. When two or more persons have made a join promise, then unless a contrary intention appears from
the contract, all such person must fulfill the promise__________
A. Jointly
B. Severally
C. Jointly and severally
D. Jointly or severally
ANSWER: D
208. Owing to a strike in the factory of A, he is not able to supply the goods to B as per the terms of the
agreement. The agreement in such a case _____________
A. Discharged
B. Is not discharged
C. Becomes void
D. Is voidable at option of A
ANSWER: B
209. If a contract contains an undertaking to perform impossibility, the contract is

A. Void ab initio
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B. Void
C. Voidable at the option of the plaintiff
D. Illegal
ANSWER: A
210. The sale of goods act ,1930 dose not cover

A. Existing good
B. Immovable goods
C. Future goods
D. Services
ANSWER: B
211. In a hire purchase agreement, the hirer

A. Has an option to buy the goods
B. Must buy the goods
C. Must return the goods
D. Is not given the possession of the goods
ANSWER: A
212. A contract creates_____________.

A. rights in personam.
B. rights in rem.
C. only rights no obligations.
D. only obligations and no rights
ANSWER: B
213. An agreement is _________.

A. offer.
B. offer + acceptance.
C. offer + acceptance + consideration.
D. contract.
ANSWER: B
214. Which of the following results in an offer?

A. a declaration of intention.
B. an invitation to offer.
C. an advertisement offering reward to anyone who finds the lost dog of the advertiser.
D. an offer made in a joke.
ANSWER: C
215. When an agreement is discovered to be void, any person who have received any advantage under such
agreement ______________.
A. is bound to restore it .
B. is not bound to return it.
C. may retain it .
D. no need to return.
ANSWER: A
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216. Quantum merit means____________.

A. a non-gratuitous promise.
B. an implied promise.
C. as much as is earned.
D. as much as paid.
ANSWER: C
217. Any variance made without surety consent in the terms of the contract between the principal debtor
and the creditor discharges surety ______________.
A. a. As to transaction prior to variance.
B. b. As to transaction subsequent to variance.
C. c. As to all transactions.
D. d. From his liability under the guarantee.
ANSWER: B
218. The right of subrogation in a contract of guarantee is available to the __________.

A. creditors.
B. principle debtors.
C. surety.
D. indemnifier.
ANSWER: C
219. The omission of the creditor to sue with in the period of limitation __________.
A. Discharges the surety
B. Does not discharge the surety.
C. Makes the contract of guarantee void.
D. Makes the contract illegal.
ANSWER: B
220. A gratuitous bailee is liable for defects in the goods bailed __________.
A. Even if he is not aware of them.
B. Only if he is aware of them.
C. In all cases
D. In particular case.
ANSWER: B
221. A who purchases certain goods from B by misrepresentation pledges them with C. the pledge
is_____________.
A. Valid
B. Void
C. Voidable.
D. Invalid.
ANSWER: A
222. If there no agreement, an agent is____________.

A. Not entitled to any remuneration.
B. Entitled reasonable remuneration.
C. Entitled to remuneration which he thinks is reasonable.
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D. Gets commission only.

ANSWER: B
223. For his commission or remuneration an agent has ____________.

A. A general lien.
B. A particular lien
C. No lien at all.
D. Neither general lien nor particular lien.
ANSWER: B
224. An agent makes some secret profit out of the business of agencies. His losses _____.
A. His remuneration.
B. His profits.
C. Not only his profits also his remuneration.
D. Commission.
ANSWER: C
225. If a price is not determined by the parties in a contract of sale the buyer is bound to pay___________.
A. The price demanded by the seller.
B. A reasonable price.
C. The price which the buyer is reasonable.
D. Cost.
ANSWER: B
226. When there is n specific agreement as to place, the goods sold are to be delivered at the
place__________.
A. at which they are at time of sale.
B. of the buyer.
C. decide by the seller.
D. to be determined by the seller.
ANSWER: A
227. Unless otherwise agreed, where goods are send by the seller to the buyer by a route involving a sea
transit of the seller____
A. must inform the buyer in time to get the goods insured.
B. may insure the goods.
C. must insure the goods .
D. no need to insure the goods.
ANSWER: A
228. A seller delivers goods in excess of the quantity ordered for. The buyer may_______.
A. accept the whole.
B. reject the whole.
C. accept the goods ordered for and returns.
D. accept the part of goods.
ANSWER: A
229. Where the neglected or refusal of the buyer to take delivery of goods amounts to a repudiation of the
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contract, the seller may sue for the __________.

A. price or damages .
B. price only .
C. damages only.
D. both for price and damages.
ANSWER: A
230. A contract made by mistake of foreign law is

A. void
B. valid
C. voidable
D. illegal
ANSWER: A
231. A minor is person who has not completed ____ years of age.
A. 20
B. 21
C. 18
D. 19
ANSWER: C
232. where a certain amount is deposited as securing for performance of a contract , it is called
A. earnest money
B. cash money
C. hard money
D. all of these
ANSWER: A
233. A person making a proposal is called

A. promisor
B. vendor
C. contractor
D. promisee
ANSWER: A
234. The Indian contract act , 1872 is extended to

A. the whole of India
B. the whole of British India
C. The whole of India except J&K
D. all the states only.
ANSWER: C
235. Which of the following is correct?

A. a promise is a contract
B. a set promises is a contract
C. a proposal is a contract
D. agreement enforceable by law is a contract
ANSWER: D
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236. Acceptance in ignorance of the offer is

A. valid
B. void
C. voidable
D. illegal
ANSWER: B
237. Knock-out agreement are generally _______ in auction sale

A. unlawful
B. not unlawful
C. void
D. required
ANSWER: B
238. Promotion of litigation in which one had no interest is

A. champerty
B. maintenance
C. stifling litigation
ANSWER: B
239. Vindictive damages are awarded

A. for wrongful dishonour of cheque
B. for breach of promise to marry
C. neither (A) nor (B)
D. either (A) or (B)
ANSWER: D
240. Anticipatory breach comes under

A. law of contractual relationship
B. law of mutual consent
C. law of mutual agency
D. law of limitation
ANSWER: A
241. Transfer of title by non-owners is dealt in section __ of sale of goods act.

A. 27-30
B. 26-29
C. 28-31
D. 30-33
ANSWER: A
242. Rules regarding carriage by land is governed by

A. The carriage act,1865 and The Indian railway act, 1989
B. The carriage act,1865
C. 1865 and The Indian railway act, 1989
D. Indian contract act 1872
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ANSWER: A
243. Rules regarding carriage by sea is governed by

A. The Indian bill of lading act,1856
B. The carriage of goods act by sea, 1925
C. The Indian bill of lading act,1856 and The carriage of goods act by sea, 1925
D. Indian contract 1872
ANSWER: C
244. Rules regarding carriage by air is governed by

A. The carriage by air act,1972
B. The carriage by air act,1952
C. The carriage by air act,1932
D. The carriage by air act,1872
ANSWER: A
245. According to carriage by land acts carriers are classified into

A. 4
B. 3
C. 2
D. 6
ANSWER: C
246. Forwarding note is related to

A. carriage by sea
B. carriage by air
C. carriage by land
D. none of these
ANSWER: C
247. An agreement whereby a ship is hired for the exclusive use is called
A. charter party
B. voyage agreement
C. sea agreement
D. none of these
ANSWER: A
248. Bill of lading is issued by

A. owner of the goods
B. master of the ship
C. seller of the goods
D. railway officials
ANSWER: B
249. The case, Mihalis Angelos, is related to

A. carriage by sea
B. carriage by air
C. carriage by land
38 of 39 8/2/2014 2:45 PM
D. none of these
ANSWER: A
250. Which one of the following is a document issued by railway company?

A. Forwarding note
B. bill of lading
C. voyage bill
D. mates receipt
ANSWER: A
Staff Name
Kavitha P .
39 of 39 8/2/2014 2:45 PM

302B - Commercial Law

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http://172.16.2.20/printqp.php?heading=II B. Com [2013 - 2016], Semest...

Dr.G.R.Damodaran College of Science

II B. Com [2013 - 2016]

4. An auction sale is complete on the

5. If A agrees to deliver 100 kg of sugar to B in exchange of 15 mts of cloth, then it is

6. A partner can retire on

7. Which of the following is false? An offer to be valid must:

8. Which of the following statement is true?

9. Which of the following is not an exception to the rule no consideration no contract?

10. A minors liability for necessaries supplied to him

12. Which of the following person can perform the contracts?

B. Legal representative of promisor

14. Generally, which of the following damages are not recoverable?

17. Which of the following is not an implied condition in a contract of sale?

18. Which of the following is not a form of delivery?

19. Mercantile agent is having an authority to

20. Doctrine of caveat emptor

21. The most important element in partnership is

22. In the absence of an agreement to the contrary all partners are,

23. Active partner is one who,

24. On dissolution the partners remain liable to till,

28. Ordinarily a minors agreement is _________.

29. The threat to commit suicide amount to _______.

30. An agreement the object or consideration of which is unlawful, is

31. A contingent contract is ________.

34. Agreement for the sale of future goods is ___________.

35. Agreement-the meaning of which is uncertain is _______.

36. Death of partner has the effect of

37. Registration of a firm is

38. The reconstitution of the firm takes place in case of

39. The law of contract in india is contained in

A. Indian Contract Act, 1862

40. A void agreement is one which is:

41. Which of the following is false? An acceptance:

42. A proposal when accepted becomes a

43. Which of the following statement is false? Consideration:

44. Which of the following statement is true?

45. Which of the following statement is true?

47. A contract is discharged by rescission which means the

48. The Sale of Goods Act, 1930 deals with

49. Which one of the following is/are document of title to goods?

50. Which one of the following is not true?

52. Which one of the following is not an implied warranty?

53. A firm is the name of:

54. A partnership at will is one:

55. Every partner has the right to:

56. Which of the following is not disability of an unregistered firm?

58. In case of illegal agreements, the collateral agreements are.

59. Consent is not said to be free when it is caused by

60. Moral pressure is involved in the case of

62. A contract dependent on the happening or non-happening of future uncertain event, is a

64. As a general rule, an agreement made without consideration is

66. A contract with the minor, which is beneficial for him, is

67. The essence of a right of lien is to

69. Voluntary transfer of possession by one person to another is popularly known as

70. Which of the following statement is true?

71. An offer may lapse by:

72. Consideration must move at the desire of

74. A contract is discharged by novation which means the

81. An agreement, which prevents a person from carrying a lawful business, is

86. The bidder at an auction sale can withdraw his bid

A. Any time during auction

89. Cross offer means

90. Valid Contract: