Business Law (MCQs) Set-3
Categories: Education
Q.1. S and P go into a shop, S says to the shopkeeper, C let P have the goods and if he does not pay you, I will ― This is a
- contract of guarantee
- contract of indemnity
- wagering agreement
- quasi contract
Answer: (A) contract of guarantee
Q.2. In a sale, the property in goods
- is transferred to the buyer
- is yet to be transferred to the buyer
- may be transferred at a future time
- istransferred when goods are delivered to the buyer
- is transferred when the buyer pays the price
Answer: (A) is transferred to the buyer
Q.3. If a sale is by sample as well as by description, the implied condition is that the goods shall correspond with
- sample
- description
- both sample and description
- either sample or description.
Answer: (C) both sample and description
Q.4. In a sale, there is an implied condition on the part of the seller that he
- has a right to sell the goods
- is in possession of the goods
- will have the right to sell
- will acquire the goods
Answer: (A) has a right to sell the goods
Q.5. In case of a wrongful dishonour of a cheque by a banker having funds to the credit of the customer, the court may award
- ordinary damages,
- nominal damages
- exemplary damages
- contemptuous damages.
Answer: (C) exemplary damages
Q.6. An agreement is a voidable contract when it is
- enforceable if certain conditions are fulfilled.
- enforceable bylaw at the option of the aggrieved party.
- enforceable by both parties d)not enforceable at all.
- An agreement not enforceable by law is said to be
Answer: (B) enforceable bylaw at the option of the aggrieved party.
Q.7. Acceptance may be revoked by the acceptor
- at any time
- before the letter of acceptance reaches the offerer
- after the letter of acceptance reaches the offeree
- before the death of the acceptor.
Answer: (B) before the letter of acceptance reaches the offerer
Q.8. Consideration must move at the desire of
- the promisor,
- the promisee,
- promisor or any other third party,
- both the promisor and the promisee.
- any third party
Answer: (A) the promisor,
Q.9. On attaining the age of majority a minor‘s agreement
- can be ratified by him
- cannot be ratified by him
- becomes void
- becomes valid.
Answer: (B) cannot be ratified by him
Q.10. When consent to an agreement is obtained by undue influence, the agreement is a
- contract voidable at the option of the party whose consent was so obtained
- void contract.
- valid contract
- void agreement.
Answer: (A) contract voidable at the option of the party whose consent was so obtained