USHA MARTIN UNIVERSITY

RANCHI, JHARKHAND

1 st INTERNAL ASSESMENT QUIZ, M.B.A

III rd SEMESTER, SESSION 2021-22

All questions are compulsory and carry 1 mark each. There is no negative marking. There is only one correct
answer. Time is 30 mins. Mark the answers in the designated area only.

NAME-____________________________ ROLL. ___________ COURSE____________

Date-_________ Total-____/10

BUSINESS LAW

1. A contract is c. It is enforceable by law.

a. Legal Obligation d. None of the above.
b. agreement and a legal obligation 7. Consider the following statements and mark
the correct one:
c. consensus ad idem
a. Every promise is a contract
d. agreement only b. Every agreement is a contract.
2. Consideration is c. A contractor which cease to be
a. A reward for the promisor enforceable by law becomes void
b. A price for the promise made by d. A minor who is supplied
promisor necessaries is personally liable to
c. A price for promise made by wife pay for them.
8. The contract act is defined in sec
d. A return promise by a third party
a. Sec 2h
3. An agreement with minor is
b. Sec 2a
a. Void
c. Sec 2b
b. Valid
d. Sec 2d
c. Illegal
9. Which of the following feature is not
d. Voidable
essential for a contract
4. The acceptance must be absolute and
a. Offer
______
b. Acceptance
a. Only absolute
c. Consideration
b. Unqualified
d. Memorandum
c. Written
d. Oral
5. A contract to do or not to do something, if 1. A contract where consent is obtained by
some event, collateral to such contract, does fraud is
or does not happen explains
a. Quasi contract a. Void
b. Novation b. Voidable
c. Contingent contract c. Invalid
d. Wagering contract d. legal
6. An agreement becomes a contract if :
a. It is by consent of the parties.
b. Parties are incompetent.