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PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS 50_MCQ part 1

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Question;1.;TheIndianContract;Act,1872;(a) Containsthebasicprinciplesofcontract;(b) Isnotacomplete;codeoncontract;(c) Doesnotcoveralltypesofcontracts;(d) All theabove;2.;Anagreement&contract;areoneand samething.;(a);True;(b);False;(c);Dependsonthesituation;(d);Noneoftheabove;3.;Thesourceofthelaw ofcontract;is;(a) IndianContract Act,1872;(b) Judicialdecisions;(c) Customsorusageoftrade;(d) All theabove;4.;Lawofcontract;(a) Isthewholelawofobligations;(b) Isthewholelawofagreements;(c) Dealswithonlysuchlegalobligationwhich arisefromagreement;(d) Dealswithsocialagreements;5.;Socialagreementsare;(a) Enforceableinthecourts;(b) Notenforceableinthecourts;(c) Subjecttolegalobligations;(d) Madebysocialworkers;6.;Allcontracts;(a) Areagreements;(b);Arenotagreements;(c);Donothavelegalobligations;(d);Shouldbeinwriting;7.;MercantileLaw;(a) Isapplicabletobusinessmenonly;(b);Isapplicabletoeverybody;(c);Isapplicabletonon-businessmanonly;(d);IsapplicabletoIndiansonly;8.;Acontractconsistof;(a) Mutualpromisesoragreementenforceablebylaw;(b) Agreementnotenforceablebylaw;(c) Involuntaryobligations;(d) Noneoftheabove;9.;Anagreementtocreatelegal;liability;(a) Isnotenforceablebylaw;(b) Isavoidagreement;(c) Isenforceablebylaw;(d);Noneoftheabove;10. Obligationbetween;partiesthatformcontract;(a) Areallkindsofobligations;(b) Arelegalobligationwhichspringfromagreements;(c) Arenotvoluntaryinnature;(d) Noneoftheabove;11. Acontractmeansanagreement;(a) Whichisenforceablebylaw;(b);Whichisnotenforceablebylaw;(c);Whichcreatessocialobligation;(d);Whichisinwriting;12. Acontractoranobligationtoperformapromise;couldariseinthefollowingways;(a) Byagreementandcontract;(b) Bystandardformofcontracts;(c) Bypromissoryestoppel;(d) Noneoftheabove;13. TheIndianContractlawisbased;on;(a) Englishlaw;(b) Australianlaw;(c) Americanlaw;(d) Frenchlaw;14. Section2(b)defines,"Whenthepersontowhomtheproposalismade,signifies;hisassentthereto,theproposalissaid tobeaccepted. Aproposalwhenaccepted;becomesa/an;(a) Contract;(b) Agreement;(c) Promise;(d) Offer;15. Whentheconsentofa party;toacontract;hasbeenobtained;byundueinfluence,fraudormisrepresentation,thecontractis;(a) Legal;(b) Voidable;(c) Enforceable;(d) Noneofthese;16. Allcontracts;(a) shouldbeinwriting;(b) shouldbeoral;(c) shouldberegistered;(d) noneoftheabove;17. Aforeigner;(a) iscompetenttoenterintocontractifhefulfils;theconditionsofsection;11.;(b);isnotcompetenttoenterintocontract;(c);canenterintocontract;withpermissionofCentral;Govt.;(d);canenterintocontract;withthepermissionofcourt;18. Voidablecontract;(a) areenforceablebylawif theyarenotavoided;(b);arenotenforceablebylaw;(c);canbeenforcedifthecourtdirects;(d);canbeenforcedwithpriorpermissionofCourt/Government;19. Thetermsofagreement;(a);mustbecertain;(b);mustbecapableof made certain;(c);un-ambiguousandclear;(d);alltheabove;20. Acontractisacontract;(a) fromthetimeitismade;(b);fromthetimeitsperformanceisdue;(c);atthetimefromitsperformance;(d);noneoftheabove;21. Inanexecuted;contract;(a) boththepartieshaveyettofulfill;theirpromises;(b) anyonepartyhasfulfilledthepromise;(c) boththepartieshavefulfilledtheir;promises;(d) bothb&c;22. Allillegalagreements;(a) arenotvoid;(b);arenotvoidab-initio;(c);arevoid;(d);noneoftheabove;23. Avoid agreement;(a) isillegal;(b) isnotvoidab-initio;(c) mayormaynotbeillegal;(d) noneoftheabove;24. Allkindsofobligationsbetweentheparties;formpartofthecontract.Thisstatementis;(a) True;(b) False;(c) Partiallytrue;(d) Noneoftheabove;25. Acontractismadewhere;(a) Abuysabookfromashop;(b) Xbidsatapublicauction.;(c) XagreeswithYtodiscover;atreasurebymagic;(d) Zagreestoattend;thebirthdaypartyofhisfriend;26. Rightinremimplies;(a) arightavailableagainstthewholeworld;(b);arightavailable;againstaparticularindividual;(c);arightavailable;againsttheGovernment;(d);noneoftheabove;27. Avoid contract;(a) isvoidfromtheverybeginning;(b) isvalidinthebeginningbutbecomesvoidlateron;(c) isenforceableattheoptionofoneofthecontractingpartiesonly;(d) noneoftheabove;28. Avoid agreementisone;(a) whichisforbiddenbylaw;(b) enforceableattheoptionofoneoftheparties;(c) whichisnotenforceablebylaw;(d) enforceablebylaw;29. Anagreementcreated;bywordsspokenor writteniscalled;(a) expressagreement;(b) executeagreement;(c) impliedagreement;(d) voidableagreement;30. Anagreementconsistsofreciprocalpromisesbetweenthe;(a) Fourparties;(b) Sixparties;(c) Threeparties;(d) Twoparties;31. Whichofthefollowingstatementsisfalse;(a) Lawofcontractisthewholelawofobligations;(b);Certaincontractsmustbeinwriting;(c);Allcontractsareagreements;(d);Allillegalagreementsarevoid;32. Parolcontracts;arealsoknowas;(a);SimpleContract;(b);FormatContract;(c);VoidContract;(d);Conditionalcontract;33. Whichofthefollowingcontractsarenotrecognizedby IndianContractAct,1872?;(a);Recognizance;(b);CourtJudgment;(c);Contractunderseal;(d);All theabove;34. Whichofthefollowingstatementsisfalseinrespect;offormalcontract?;(a);Itshouldbeina;particularform;(b);Itshouldbeinwritingandwitnessed;(c);Itshouldhaveconsideration;(d);Considerationisnotnecessary;35. UndertheEnglishlawwhich;ofthefollowingarerecognizedasformalcontract;(a);Recognizance;(b);Contractunderseal;(c);Parolcontracts;(d);Both (a)and;(b);36. Anoffermadebywords;spokenorwritteniscalled;(a) Impliedoffer;(b) Expressoffer;(c) Formalagreement;(d) Informalagreement;37. Partialacceptanceofofferresultin;(a) counteroffer;(b) unqualifiedacceptance;(c) bindingcontract;(d) noneoftheabove;38. Atenderis;(a) anoffer;(b) invitationtoanoffer;(c) acceptanceofoffer;(d) noneoftheabove;39. Acceptanceistoofferwhata lightedmatchistoa;trainofgun;powder.This statementindicates;(a) Onceanofferisaccepteditresultsinbinding;contract;(b) Communicationofacceptanceisnecessary;(c) Acceptancemustbeabsolute&unqualified;(d) All theabove;40. An offer comes toan end by;(a) acceptance;(b) communication;(c) revocation;(d) noneoftheabove;41. Deathorinsanity of theproposerwillrevoketheproposal;(a) Automatically;(b) Ifthefactofthedeathorinsanity;isknowntotheofferee;(c) Theknowledgeofdeathorinsanityisirrelevant;(d) Onlyifthefamilymembers;oftheproposerinformstheofferee;42. Anofferstandsrevoked;(a) Ifthefactofthedeathorinsanity;isknowntoofferee;(b) Bycounteroffer;(c) Byrejectionofoffer;(d) All theabove;43. Crossofferdonotconstitute;a contractbecause;(a);thereisnoacceptance;(b);thereisimpliedacceptance;(c);crossingimpliescancellation;(d);itamountstocounteroffer;44. Aproposal canbe;revoked;(a) Beforepostingofletterofacceptancebytheacceptor;(b) Beforereceivingtheletterofacceptancebytheofferor;(c) Afterpostingtheletterofacceptancebytheofferee;(d) Cannotberevoked;45. Communicationofacceptanceisnotnecessary;(a);Byperformanceofconditionsoftheofferbyofferee;(b);Byacceptance ofconsiderationbytheofferee;(c);Byacceptanceofbenefit/servicebytheofferee;(d);All theabove;46. Whencounterofferisgiven;theoriginaloffer;(a) Lapses;(b) Remainsvalid;(c) Isacceptedandbecomes;acontract;(d) Theoriginaloffercanalsobeaccepted;47. Acounterofferproposing;differenttermsandconditions;(a) Amountstoacceptanceoftheoffer;(b) Amounttorejection;oftheoffer;(c) Resultsinmakingoftheprovisionalcontract;(d) Both (b)&(c);48. Whichofthefollowingstatementsisfalse?;(a) Aresponsetoinvitationtotreatleadtoanagreement;(b) Avalidoffermustbecommunicated;(c) Supplyinginformationisnotanoffer;(d) Arequestfortendersisaninvitationtotreat;49. Whenthepromiseedoesnotaccepttheofferofperformance,thepromisorisnotresponsiblefornon-performance;(a) True;(b) False;(c) Both(a)&(b);(d) Noneoftheabove;50. Foran acceptancetobevalid,it;mustbe;(a) Partial&qualified;(b) Absolute&unqualified;(c) Partial&unqualified;(d) Absolute&qualified;="margin-top:3.1pt,margin-right:0cm,margin-bottom:0cm,margin-left:>

 

Paper#59029 | Written in 18-Jul-2015

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