Business Law

91. A person who finds good belonging to another and takes them into his custody ,is subject to the same responsibility as a

1. bailee
2. true owner
3. bailor
4. pledge.

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92. Ordinary damages are damages which

1. arise in the usual course of things from the breach
2. which are in the contemplation of the parties at the time when the contract is made
3. are agreed in advance
4. are given by way of punishment for breach of contract.

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93. An agreement to do an act impossible in itself

1. is void,
2. is voidable
3. is void ab initio
4. becomes void when impossibility is discovered

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94. When two or more persons have made a joint promise, then unless a contrary intention appears from the contract,all such persons must fulfill the promise

1. jointly
2. severally
3. jointly and severally
4. jointly or severally

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95. A contract of insurance is a

1. contract of guarantee
2. contingent contract
3. wagering agreement
4. unilateral agreement.

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96. If there is a unilateral mistake as regards identity of a party caused by fraud of he other party , the contract is

1. void,
2. voidable,
3. valid
4. illegal

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97. Consideration

1. must move from the promisee,
2. may move from the promisee or any other person
3. may move from the third party
4. may move from the promisor.

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98. A contract is

1. a legal obligation
2. an agreement plus a legal obligation
3. consensus ad idem,
4. agreement plus a legal object.

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99. Consideration must be something which the promisor

1. is already bound to do,
2. is not already bound to do.
3. may voluntarily do
4. must not do.

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100. Where consent is caused by fraud or misrepresentation , the contract is

1. voidable at the option of the aggrieved party
2. void
3. unenforceable
4. not affected in any manner

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