A agreed to sell 100 shares to B at Rs. 75 per share delivery to be given on the 1st march, B refused to accept delivery on 1st march as price had gone down to Rs. 60 per share. Subsequently A sold these shares at Rs.92 per share
1.A cannot recover any damages from B
2.A will have to restore to BRs. 1700 i.e. the profit he made
3.A can recover damages to be determined by the President of the stock exchange.
4.bailor
Posted Date:-2021-11-09 03:58:23
A condition is a stipulation which is a
1.essential to the main purpose of contract of sale
2.not essential to the main purpose of contract of sale,
3.collateral to the main purpose of contract of sale
4.None of the above.
Posted Date:-2021-11-09 06:10:19
A contingent contract is
1.void
2.voidable
3.valid
4.illegal
Posted Date:-2021-11-09 04:06:17
A contract
1.may be void as originally entered into
2.may become void subsequent to its formation
3.cannot become void under any circumstances
4.may become void at the will of party.
Posted Date:-2021-11-09 06:10:49
A contract by an idot is
1.voidable
2.enforceable
3.invalid
4.void ab inito
Posted Date:-2021-11-09 04:05:24
A contract creates
1.rights in personam
2.rights in rem
3.only rights and no obligations
4.only obligations and no rights
Posted Date:-2021-11-09 03:54:38
A contract has become more difficult of performance due to some un-contemplated events or delays .The contract
1.is discharged
2.is not discharged
3.becomes void
4.becomes voidable.
Posted Date:-2021-11-09 06:14:58
A contract to pay B Rs. 10,000 if B s house is burnt – This is a
1.wagering agreement
2.void
3.voidable agreement
4.contingent contract
Posted Date:-2021-11-09 03:41:05
A finder of lost goods is a
1.bailor
2.Baile
3.true owner
4.thief
Posted Date:-2021-11-09 03:58:46
A guarantee obtained by a creditor by keeping silence as to material circumstances is
1.valid
2.voidable
3.unenforceable
4.invalid
Posted Date:-2021-11-09 04:01:31
A lends Rs. 500 to B. He later tells B that he need not repay the amount, the contract is discharged by
1.breach
2.waiver
3.novation
4.Performance.
Posted Date:-2021-11-09 04:06:46
A letter of acceptance sufficiently stamped and duly addressed is put into course of transmission. There is
1.a contract voidable at the option of acceptor
2.a contract voidable at the option of offerer
3.no contract at all
4.a valid
Posted Date:-2021-11-09 06:11:26
A mere attempt at receipt by a party to a contract ______
1.is not fraud unless the other party is actually deceived
2.is fraud whether the other party has been deceived ornot
3.amounts to misrepresentation
4.None of the above.
Posted Date:-2021-11-09 03:55:09
A minor , by misrepresenting his age , borrows some money –
1.he can be sued for the fraud,
2.he cannot be sued for the fraud
3.he is liable to return the money
4.None of the above.
Posted Date:-2021-11-09 03:43:11
A minor has been supplied necessaries on credit
1.he is not liable
2.he is personally liable
3.his estate is liable
4.he is not personally liable
Posted Date:-2021-11-09 06:08:44
A promise made without the intention of performing it amounts to –
1.innocent misrepresentation
2.fraud
3.negligent Misrepresentation
4.wrongful misrepresentation
Posted Date:-2021-11-09 03:42:45
A promise to subscribe to a charity. The promise is a
1.valid contract
2.voidable contract
3.void agreement
4.void contract.
Posted Date:-2021-11-09 04:04:52
A specific offer can be accepted by
1.any person
2.any friend of offerer
3.the person to whom it is made
4.any friend of offeree.
Posted Date:-2021-11-09 04:03:52
An agreement made with an alien enemy is
1.unlawful on the ground of public policy
2.unlawful because it becomes difficult to be performed
3.valid, d)voidable.
4.void
Posted Date:-2021-11-09 03:40:40
An agreement made without consideration is
1.valid,
2.illegal,
3.voidable
4.void
Posted Date:-2021-11-09 03:44:29
Any variance made without surety's consent in the terms of the contract between the principal debtor and thecreditor discharges the surety
1.as to transactions prior to variance
2.Coffee
3.as to transactions subsequent to variance
4.as to all transactions
Posted Date:-2021-11-09 06:09:17
Assignment by operation of law takes place ______
1.by the mutual consent of parties
2.by the will of either party
3.when the subject matter of a contract ceases to exist.
4.by the death of a party to a contract.
Posted Date:-2021-11-09 03:57:05
Compromise of dispute claims
1.is a good consideration for a contract
2.is not a good consideration for a contract
3.results in a void agreement
4.is not permitted by law.
Posted Date:-2021-11-09 06:11:51
Consideration
1.must be adequate to the promise made
2.need not be adequate to the promise made
3.must be of reasonable value
4.must be of more value than the value of promise made.
Posted Date:-2021-11-09 04:04:23
Contracts made before war with an alien enemy which are against public policy are
1.suspended and are revived after the war is over.
2.dissolved
3.not affected at all
4.void ab initio
Posted Date:-2021-11-09 06:12:12
Each party is a promisor and a Promisee in case of –
1.past consideration
2.present consideration
3.every contract
4.reciprocal promises
Posted Date:-2021-11-09 03:41:53
If a price is not determined by the parties in a contract of sale , the buyer is bound to pay
1.the price demanded by the seller
2.a reasonable price
3.the price which the buyer thinks is reasonable
4.the price to be determined by a third independent person.
Posted Date:-2021-11-09 04:02:00
If there is a fraudulent misrepresentation as to the character of a document , the contract is ______
1.void
2.voidable
3.valid
4.illegal
Posted Date:-2021-11-09 03:55:34
If there is a fraudulent misrepresentation as to the contents of a document , the contract is –
1.void,
2.voidable,
3.valid
4.illegal
Posted Date:-2021-11-09 03:43:39
If there is error in cause, the contract I
1.void
2.voidable
3.valid
4.illegal
Posted Date:-2021-11-09 04:05:49
In a sale ,if the goods are destroyed , the loss falls on
1.the buyer
2.the seller
3.partly on buyer and partly on seller
4.the seller if price has not been paid
Posted Date:-2021-11-09 06:16:12
In case of breach of a warranty , the buyer can
1.repudiate the contract
2.claim damages only
3.return the goods
4.refuse to pay the price
Posted Date:-2021-11-09 04:02:59
Law of contract is
1.not the whole of agreements nor is it the whole law of obligations
2.the whole law of agreements
3.the whole law of obligations
4.None of the above.
Posted Date:-2021-11-09 04:03:27
On the face of the ticket for a journey the words ― for conditions see back are printed in small print. The passenger _______
1.is bound by the conditions whether he takes care to read them or not.
2.is not bound by the conditions
3.may not take note of the conditions
4.None of the above.
Posted Date:-2021-11-09 03:54:07
Promises forming consideration for each other are known as,
1.independent promises
2.dependent promises
3.reciprocal promises.
4.mutual promises
Posted Date:-2021-11-09 06:14:30
Quantum meruit means
1.a non gratuitous promise
2.an implied promise
3.as mush as earned
4.as much as is paid.
Posted Date:-2021-11-09 06:15:47
Specific performance may be ordered by the court when ________
1.the contract is voidable
2.damages are an adequate remedy
3.damages are not an adequate remedy
4.the contract is uncertain.
Posted Date:-2021-11-09 03:57:50
The Case of Cundy v. Lindsay (1878)deals with
1.Coercion
2.undue influence
3.mistake as to the nature of transaction
4.mistake as regards identity
Posted Date:-2021-11-09 06:13:03
The case of Mohiri Bibi v. Dharmodas Ghose (1903) deals with-
1.communication of offer
2.communication of acceptance
3.a minors agreements
4.fraud
Posted Date:-2021-11-09 03:41:29
The case of nordenfelt v. maxim nordenfelt gun co. (1904)deals with
1.agreement in restraint of legal proceedings
2.minor‘s agreements
3.agreement in restraint of trade
4.agreement in restraint of marriage.
Posted Date:-2021-11-09 03:56:03
The case of Taylor v. caldwell (1883)deals with-
1.discharge of contract by destruction of subject matter,
2.anticipatory breach of contract
3.discharge of contract by death of a party
4.breach of contract.
Posted Date:-2021-11-09 03:42:22
The court may grant rescission where the contract is
1.voidable at the option of the plaintiff
2.void
3.unenforceable
4.illegal
Posted Date:-2021-11-09 06:15:23
The doctrine of caveat emptor applies
1.incase of implied conditions and warranties
2.Coffee
3.when the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment
4.when goods are sold by sample
Posted Date:-2021-11-09 06:09:54
The measure of damages in case of breach of a contract is the difference between the
1.contract price and the market price at the date of breach
2.contract price and the maximum market price during the term of the contract
3.contract price and the price at which the plaintiff might have sold the goods,
4.contract price and the price fixed by court.
Posted Date:-2021-11-09 04:11:07
The omission of the creditor to sue within the period of limitation
1.discharges the surety
2.does not discharge the surety
3.makes the contract of guarantee void
4.makes the contract of guarantee illegal.
Posted Date:-2021-11-09 06:16:43
There is a counter-offer when-
1.the offeree gives conditions for acceptance or introduces a fresh term in acceptance
2.the offerer makes a fresh offer
3.the offeree makes some query.
4.the offeree accepts it.
Posted Date:-2021-11-09 03:44:06
When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is
1.misrepresentation
2.fraud
3.undue influence
4.coercion.
Posted Date:-2021-11-09 06:12:39
When promises refuses to accept performance from the promisor who offers to perform, it is ____
1.attempted performance
2.vicarious performance
3.tender
4.frustration of contract.
Posted Date:-2021-11-09 03:56:37
Where a contract could not be performed because of the default by a third person on whose work the promisor relied , it _________
1.is not discharged
2.is discharged
3.becomes void
4.becomes voidable.
Posted Date:-2021-11-09 03:57:27
Which of following result in an offer-
1.A declaration of intention
2.an invitation to offer,
3.an advertisement offering reward to anyone who finds lost dog of the advertise,
4.an offer made in a joke.
Posted Date:-2021-11-09 03:40:14