Deck 1: Understanding the Indian Contract Act and Essential Elements of Contracts

Question 1

The Indian contract act come into force

A)from 1 september 1972
B)before 1 september 1882
C)from 1 september 1872
D)after 1 september 1872

Answer 1

from 1 september 1872

Question 2

Contract with minor is

A)illegal
B)valid
C)void
D)voidable

Answer 2

void

Question 3

Agreement caused by a bilateral mistake of fact is-

A)void
B)voidable
C)illegal
D)valid

Answer 3

void

Question 4

Which of these is a wagering contract?

A)insurance contract
B)teji mandi contract
C)lottery
D)all of these

Question 5

Consideration must move at the desire of-

A)third party
B)the promisee
C)the promisor
D)none of these

Question 6

A contract entered into between the parties by words is called-

A)express contract
B)implied contract
C)quasi contract
D)specific contract

Question 7

When an offer can be accepted only by the person to whom it is made, it is called-

A)express offer
B)general offer
C)specific offer
D)implied offer

Question 8

A promise to subscribe to a charity is a

A)void agreement
B)void contract
C)voidable contract
D)valid contract

Question 9

A contract for the benefit of a minor entered into by his manager is

A)illegal
B)voidable
C)void
D)valid

Question 10

Two or more persons are said to consent when they agree upon

A)the same thing in the same sense
B)the same thing in any sense
C)the same thing in a specific sense
D)none of these

Question 11

Which of the following is not an essential element of a valid contract:

A)adequacy of consideration
B)capacity to contract
C)free consent
D)none of the above

Question 12

If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:

A)special damages
B)nominal damages
C)liquidated damages
D)compensatory damages

Question 13

Which of the following case is not covered by the concept of supervening impossibility?

A)destruction of subject matter
B)death or incapacity of the promisor
C)outbreak of war
D)difficulty of performance

Question 14

Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:

A)he is not illiterate and can read and understand the terms of the contract.
B)he is capable of understanding the contract and forming a rational judgement as to its effect upon his interests.
C)he is of the age of majority and is not disqualified from contracting by any law to which he is subject.
D)he is not suffering from any mental disease or distress.

Question 15

A positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true is said to be a:

A)fraud
B)misrepresentation
C)mistake
D)misinterpretation

Question 16

A minor can:

A)be an agent
B)be a principal
C)both
D)none of these

Question 17

Choose the incorrect statement: To constitute a wager, following elements should be present in the agreement:

A)uncertain event
B)each party must pay in a win or lose situation
C)neither party should have any contract over the event
D)there should be a promise to pay money only

Question 18

The Indian Contract Act, 1872 applies to the

A)whole of india including jammu & kashmir
B)whole of india excluding jammu & kashmir
C)states notified by the government every year
D)northern and eastern indian states

Question 19

A jus in personam means a right against

A)a specific person
B)the public at large
C)a specific thing
D)none of these

Question 20

Which of the following statement is true

A)an agreement enforceable by law is a contract
B)an agreement is an accepted proposal
C)both (a) and (b)
D)none of these

Question 21

A contract is made where

A)x agrees with y to discover a treasure by magic
B)x bids at a public auction
C)x takes a sit in a public omni bus
D)x promises in writing to give rs. 500 to y

Question 22

A void agreement is one which is

A)valid but not enforceable
B)enforceable at the option of both the parties
C)enforceable at the option of one party
D)not enforceable in a court of law

Question 23

In case of void agreements, collateral transactions are

A)also void
B)unenforceable
C)not affected
D)illegal

Question 24

General offer can be accepted by

A)any person
B)specific person
C)any person having notice of it
D)none of these