Business Law (MCQs) Set-4
Categories: Education
Q.1. an agreement the meaning of which is not certain, is
- void
- voidable
- valid
- illegal
Answer: (D) illegal
Q.2. 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
- is discharged
- is not discharged
- becomes void
- is voidable at the option of A.
Answer: (B) is not discharged
Q.3. when an agreement is discovered to be void ,any person who has received any advantage under such agreement
- is bound to restore it
- is not bound to restore it
- is not bound to return it.
- may retain it
- none of these
Answer: (A) is bound to restore it
Q.4. A contract of indemnity is a
- a contingent contract
- wagering contract
- quasi contract
- void contract
Answer: (A) a contingent contract
Q.5. The term property as used in the sale of goods act 1930 means
- possession
- ownership
- ownership and possession both
- the subject matter of contract of sale.
Answer: (B) ownership
Q.6. In case of breach of a warranty, the buyer can
- claim damages only
- repudiate the contract
- cannot return the goods
- refuse to take delivery of the goods
Answer: (B) repudiate the contract
Q.7. Sale of goods for cash is an example of
- mutual and independent promises
- mutual and dependent promises
- mutual and concurrent promises
- conditional and dependent promises,.
Answer: (C) mutual and concurrent promises
Q.8. Where there are co-sureties, a release by the creditor of one of them
- discharges the other co-sureties
- does not discharge the other co-sureties
- makes all the co-sureties immediately liable
- makes the contract of guarantee void.
Answer: (B) does not discharge the other co-sureties
Q.9. The foundation of modern law of damages was laid down in,
- Tinn v. Hoffman
- Taylor v. caldwell
- Hadley v. Baxendale
- Addis v. Gramophone
Answer: (C) Hadley v. Baxendale
Q.10. The case of Hadley v. Baxendale (1854) deals with
- anticipatory breach of contract.
- quantum of damages
- supervening impossibility
- quasi contract.
Answer: (B) quantum of damages