A contract is said to have entered into when:*

1 point

When an offer is accepted

When an agreement is legally enforceable
When an agreement is drafted in writing in a stamp paper
When the parties to the agreement decide to call it a contract

2. Can an agreement without valid consideration be considered a contract?*

1 point

Yes
No
Sometimes
Always

3. What is an offer?*
1 point

A medium through which a person expresses the intention to enter into a contractual
relationship
A medium through which a person gives away free gifts with the merchandise being sold
A medium of advertising a product
A medium through which third parties are made aware of the products and services
available

4. One of the following is not a rule governing an acceptance:*

1 point

It should be made by the offeree should be communicated to the offeror

It should be made by the offeree
It may be in any form Oral or Written
It can be withdrawn even after it is conveyed to the offerer
It should be given while the offer is in force

5. Which of the following are rules governing consideration?*

1 point

A contract must be supported by consideration

Consideration must have some value
Consideration must be legal
Consideration can be waived at the choice of the parties to the contract and yet remain
legally enforceable
Consideration can be defined as benefit or detriment
Consideration can be past, present or future

6. Which of the following are objects deemed to be unlawful?*

1 point
Forbidden by law
Fraudulent
Immoral
Opposed to public policy
Opposed by any foreign law not applicable in India

7. Which of the following is not a benefit for a minor entering into a contract?*
1 point

Minor can always plead minority

No ratification on attaining the age of majority
Minor cannot be adjudicated insolvent
Pleading minority to deny payment for supply of necessities

8. Can a person of unsound mind enter into a contract?*

1 point

Yes, during the period when the person is not in unsound mind
No, once a person is declared of unsound mind, the person can never get into any contract
thereafter
Yes, provided it is entered into by a guardian of sound mind
Yes, if the person of unsound mind is benefitting from that contract

9. Which of the agreements are expressly declared void?*

1 point

Agreement in restraint of marriage

Agreement in restraint of trade
Agreement by way of wager
Agreement to do an impossible act
Agreement, the performance of which is delayed
Conditional Agreement

10. One of the following is not a type of performance of a contract.*

1 point

Actual Performance
Substantial performance
Performance by mistake
Partial Performance
Attempted Performance