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PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS 50_MCQ part 10

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Question;1.;Whichoneofthefollowingstatementsexplainscorrectlv;thelawoffrustration?;(a);Frustrationistheresultofappellant'sownchoice;(b);Thelegaleffectoffrustrationdependsontheintentionofthepromisor;(c);Frustrationdoesnotexterminatethecontract;forallpurposes;(d) Waiveroffrustrationbyonepartydoesnotbindtheotherparty(promisor)fortheremainingpartofthecontract;2.;InIndia,thedoctrine;ofimpossibilityofperformancerenderingcontractsvoidisbasedon;(a);Thetheoryofimplied;term;(b);Thetheoryofjustandreasonablesolution;(c);SuperveningimpossibilityaslaiddowninI Section;56oftheIndian;ContractAct;(d);Principleofunjustenrichment;3.;Iftheperformanceofcontractbecomesimpossible,becauseofasuperveningevent,thepromi-sorisexcused;from theperformance.Thisisknownas;(a);Doctrineofestoppel;(b);Doctrineoffrustration;(c);Doctrineofeclipse;(d);DoctrineofCaveatemptor;4.;Damagesawardedwithaviewtopunish;thepartywhocommitsthebreach;ofcontractareknownas;(a);Liquidateddamages;(b);Punitivedamages;(c);Specialdamages;(d);Generaldamages;5.;Thecodegoverning;saleofgoodswasearlier;containedin;(a) theIndianContract;Act;(b) theTransferofPropertyAct;(c) theHirePurchaseAct;(d) Noneoftheabove;6.;TheSaleofGoods Act,1930governsthe;transferofpropertyin;(a) movableproperty;(b) immovableproperty;(c) bothmovableandimmovableproperty;(d) alltypeofproperties;7.;Goods"means;(a) everykindofmovableproperty;otherthanactionableclaimsandmoney;(b) somekindsofimmovablepropertyonly;(c) everykindofmovableproperty;includingactionableclaimsandmoney;(d) Both'a'and'b;8.;Whichone ofthefollowingdoesnotconnote'goods;as definedintheSaleof;Goods Act.;(a);money;(b);animals;(c);debt;(d);both'a'and'c;9.;Whichofthefollowingis/arenotincluded;inthemeaning;of'goods'asdefined;intheSaleofGoodsAct.;(a);stocksandshares;(b);actionableclaims;(c) legaltendermoney;(d);both'b'and'c;10.;Acontractofsaleofgoods;isa contractwhereby;(a) thesellertransfersthepropertyingoodstothebuyerforaprice.;(b) thesellerdeliversthegoodstothebuyerinexchangeofcertaingoods.;(c) thesellertransfersoragreestotransfer;thepropertyingoodstothebuyerforaprice.;(d) thesellergivespossessionofgoodstothebuyer;11.;Avalidcontract;ofsale;(a) includes'anagreementtosell;(b);doesnotinclude'anagreementtosell;(c);includeshirepurchasecontract;(d);includescontractaworkandlabour;12.;Anessentialelementofa contractofsaleis;(a) transferofownershipingoods;(b);deliveryofgoods;(c);both'a'and'b;(d);either'a'or'b;13.;Where;underacontractofsale;the property ingoodsistransferredfromthe seller to the buyer,thecontractiscalled.;(a) anagreementtosell;(b) a sale;(c) both'a'and'b;(d) either'a'or'b;14.;Whereunderacontract;ofsaletheproperty;ingoodsistobetransferredatafuturetime,thecontractiscalled.;(a);anagreementtosell;(b);a sale;(c);neither'a'nor'b;(d);both'a'and'b;15.;Avalidsalemusthavetwoparties;who;(a) mustbecompetenttocontract;(b) maynotbecompetenttocontract;(c) mustbeIndiancitizens;(d) mustberesidentsofthe samestate;16.;Ina validsale;(a);absoluteownershipmustbetransferredtothebuyer.;(b);absoluteownershipwiththegoodsmustbetransferredtothebuyer;(c);conditionaltransferofownershiptothebuyer;(d) contingenttransferofownershiptothebuyer;17.;Thesubjectmatter;ofa valid salearesuchgoodswhichare;(a) transferredbysellertothebuyerforaprice;(b) transferredbysuccession;(c) transferredbyawill;(d) transferredbyabuyertotheseller;18.;Anagreementtosellis;(a) anexecutorycontract;(b) anexecutedcontract;(c) neither'a'or'b;(d) sometime'a'or'b;19.;An'agreementtosell;becomes 'sale'when;(a) theconditionsaresatisfied;(b) thepartiesagreetochangethetermsofagreement;(c) whenthecourtorders;(d) whentheagreementisinwriting;20.;Goods'asdefinedinSaleofGoods;Actwillinclude;(a) rarecoins,goodwillandmoney;(b) growingcropsagreedtobesevered;beforesale,oldcoins,andcopyrights;(c) goodwill,copyright,patentandforeigncurrency;(d) both'b'and'c;21.;Specificgoodsaresuchgoodswhichare;(a) existingandidentifiedatthetimeofmakingthecontract;(b) identifiedafterthe makingofcontract;butbeforetheperformanceofcontract;(c) both'a'and'b;(d) neither'a'nor'b;22.;Futuregoods;(a) canbethesubject;matterofsale;(b) cannotbesubjectmatterofsale;(c) sometimesmaybethesubjectmatterofsale;(d) dependsoncircumstances;23.;Wherea contract;ofsalepurports;toeffectapresentsaleoffuturegoods,thecontractoperates;as;(a);a sale;(b);anagreementtosell;(c);both'a'and'b;(d);alltheabove;24.;Wherethereisa;contractforthesale;ofspecificgoods,and;thegoods perish;beforethemaking;ofcontract,withouttheknowledge;oftheseller;thecontractis;(a);voidableattheoptionofthebuyer;(b);void;(c);illegal;(d) unenforceable;25.;Whenthereisacontractforunascertainedgoods,andgoodsperishwithoutthefaultofthesellerorbuyerbefore;theriskpasses;tothebuyer,the contract;(a);canbeavoided;(b);cannotbeavoided;(c);becomesvoid;(d);becomesunenforceable;26.;Toconstitutea;ContractofSale,thetransferofproperty;ingoods;(a) mustbeformonetary;consideration;(b) maybefornon-monetaryconsideration;(c) mustbeforbothmonetary;andnonmonetaryconsideration;(d) maybeeithermonetaryornonmonetaryconsideration;27.;Pricemusteitherbecertain;ordefiniteor;(a) determinedbysomemethodorcriterionprescribedinthecontract;(b) byvaluationof;a thirdparty;(c);All theabove;(d);Noneoftheabove;28.;Ifacontract;ofsalestipulatesthatpricewillbefixedbyathirdpartyonvaluationofthegoods,and thethirdpartyshowsinability todoso,then;(a);theagreementisvoid;(b);thebuyershallpayreasonableprice;(c);thebuyershallpaymarketprice;(d);theagreementisvalid;29.;Wherethereisanagreementtosellgoodson;the;price fixedbyathirdpartyonvaluation,butthethirdpartyrefuses;todoso,and;thebuyerappropriatespartofthegoodsdeliveredtohim.;(a) thebuyershallpayreasonableprice;(b) theagreementisavoided;(c) thebuyershallpaymarketprice;(d) noneoftheabove;30.;TheSaleofGoods;Act, 1930extendstothewholeofIndia,exceptthestateof?;(a);Maharashtra;(b);JammuandKashmir;(c);Tamilnadu;(d);UttarPradesh;31.;TheSaleofGoods;Act,1930cameintoforce;on;?;(a) 1stdayof July 1930;(b) 1stdayofSeptember;1930;(c) 1stdayofJanuary1930;(d) 31stdayofDecember 1930;32.;TheSaleofGoodsAct,1930dealswith?;(a) CashSales;(b) CreditSales;(c) HirePurchase;Sales;(d) SaleofGoodsingeneral;33.;Conditionsarestipulations;(a) essentialtothemainpurposeofthecontract;(b) collateraltothemainpurpose;ofthecontract;(c) either'a'or'b;(d) neither'a'nor'b;34.;Awarrantyisstipulation;(a) essentialtothemainpurpose;ofthecontract;(b) collateraltothemainpurpose;ofthecontract;(c) veryimportanttotheseller;(d) veryimportanttothebuyer;35.;Breachofa;conditiongivesriseto;(a) claimfordamages;(b) arighttotreatthecontractasrepudiated;(c) both'a'and'b;(d) either'a'or'b;36.;Breachofawarranty;givesriseto;(a) claimfordamages;(b) arighttotreatthecontractasrepudiated;(c) both'a'and'b;(d) either'a'or'b;37.;Whethera stipulationisa conditionora;warranty dependson;(a) theconstructionofthecontract;(b) theconductoftheparties;(c) thetradecustom;(d) thelocallaw;38.;Ifa contractofasalecontainsastipulationwhichisimpossibletofulfill;then;(a) thecontractbecomesillegal;(b) thelawexcusessuchastipulationbyreasonofimpossibility;(c) either'a'or'b;(d) both'a'and'b;39.;Whereacontactofsaleissubject;toanycondition;tobefulfilled;bythesellerandthesellercommitsa;breachofthatcondition;(a);thebuyerhastocompulsorilytreatthebreach;ofconditionasbreachofwarranty;only;(b);thebuyermayvoluntarilywaivethecondition;(c);thebuyermaydonothing;(d);thebuyermaycontactanotherseller;40.;Whatareimplied;stipulationsofacontract?;(a) agreedbytheparties.;(b) incorporatedbylawunlessspecificallyagreedotherwise.;(c) impliedbythecircumstances;(d) impliedbytradecustoms;41.;Oncethebuyerdecides;towaivethecondition;(a) hecaninsistonitsfulfillmentlater;on;(b) hecannotinsistonitsfulfillmentthereafter;(c) heisboundbythewaiver;(d) both'b'and'c;42.;Whenwillbreachofconditionbetreatedasbreachofwarranty only?;(a) whenthecontractisseverableandbuyeracceptsthegoodsinfull.;(b) whenthecontractisindivisibleandthebuyeraccepts;thegoodsinfull orpart.;(c) Either'a'or'b;(d) Both'a'and'b;43.;Whatistheimplied conditionastothe title;ofgoods?;(a) thatseller hasthe righttosell;ifitisacaseof sale;(b) hewillhavearighttosellincaseofagreement;tosell;(c) thatthebuyerwillhavetheright;torejectthegoods;(d) both'a'and'b;44.;Iftheconditionastothetitle ofgoodsisnotfulfilled,thebuyer;(a) mayrejectthegoods;(b) hasnoalternativebuttobuythegoods;(c) mayrejectthegoodsandclaimdamages;(d) alltheabove;45.;Theimpliedconditionastothedescriptionofgoods;meansthat;(a) thegoodsshallperfectlycorrespondtothedescription;(b) thegoodsshouldbecapableofbeingsoldinthemarket;bythatdescription;(c) both'a'and'b;(d) neither'a'nor'b;46.;Inasalebysampleanddescription,thereisanimpliedcondition;(a) thatbulkofthegoodscorrespondwiththesample;(b);thatbulkof goodsmustcorrespondtothedescription aswellasthesamplethereof;(c);thebulkofgoodsmustcorrespondeithertothedescriptionortothesample;(d) thebulkofgoodsmustcorrespondtothedescriptiononly;47.;Ifyoucontract;tosellpeas,youcannotobligea party tohave;beans":thisstatement;appliesto;(a) aimpliedcondition;astobedescriptionofgoods;(b) theimpliedconditionastofitnessofgoodsforaparticularpurpose;(c) impliedconditionastosample;(d) impliedconditionastotitle;48.;Wheregoods areboughtbydescriptionfromaseller who;dealsingoodsofthat;description,whatistheimplied;condition?;(a);thatgoodsshallbeof;merchantablequality;(b);thatthebuyershallhavereasonableopportunityofcomparing;thebulkwiththesample;(c);thegoodsshallbeinexcellentquality;(d);thegoodsshallbefreefromdefects;49.;Inacontract;ofsale,unlessotherwise;stated,thereisanimpliedwarranty.;(a);thatthebuyercanreject;thegoodsifgoodsdonotconform;tohispurpose;(b) thatthebuyershallhaveandenjoyquietpossession,andifthereisabreachofthiswarranty,heisentitled;tosuethe sellerfordamages;(c) thatthebuyershallhaverighttoterminatethecontractintheeventofnon-compliancewiththewarranties;(d);noneoftheabove;50.;Wheregoodsareknowntobedangeroustotheseller;andhealsoknowsthatthebuyer;isignorantaboutit,thereisanimplied;warranty;(a) thatbuyermustbeinformedaboutthedangerous;natureofgoods;(b) thatthebuyermustexaminethegoodsbeforetaking;delivery;(c) thesellermustwarnthebuyer;(d) both'a'and'c

 

Paper#59038 | Written in 18-Jul-2015

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