Business Law
11. An agreement made without consideration is
- valid,
- illegal,
- voidable
- void
Correct answer: (D)
void
12. On the face of the ticket for a journey the words ― for conditions see back are printed in small print. The passenger ________________
- is bound by the conditions whether he takes care to read them or not.
- is not bound by the conditions
- may not take note of the conditions
- none of the above.
Correct answer: (A)
is bound by the conditions whether he takes care to read them or not.
13. A contract creates
- rights in personam,
- rights in rem,
- only rights and no obligations,
- only obligations and no rights.
Correct answer: (B)
rights in rem,
14. A mere attempt at deceipt by a party to a contract ________________
- is not fraud unless the other party is actually deceived
- is fraud whether the other party has been deceived ornot
- amounts to misrepresentation
- none of the above.
Correct answer: (A)
is not fraud unless the other party is actually deceived
15. If there is a fraudulent misrepresentation as to the character of a document , the contract is ________________
- void,
- voidable,
- valid
- illegal
Correct answer: (A)
void,
16. The case of nordenfelt v. maxim nordenfelt gun co. (1904)deals with
- agreement in restraint of legal proceedings,
- minor‘s agreements
- agreement in restraint of trade
- agreement in restraint of marriage.
Correct answer: (C)
agreement in restraint of trade
17. When promisee refuses to accept performance from the promisor who offers to perform, it is ________________
- attempted performance,
- vicarious performance,
- tender
- frustration of contract.
Correct answer: (A)
attempted performance,
18. Assignment by operation of law takes place ________________
- by the mutual consent of parties
- by the will of either party
- when the subject matter of a contract ceases to exist.
- by the death of a party to a contract.
Correct answer: (D)
by the death of a party to a contract.
19. Where a contract could not be performed because of the default by a third person on whose work the promisor relied , it ________________
- is not discharged
- is discharged
- becomes void
- becomes voidable.
Correct answer: (A)
is not discharged
20. Specific performance may be ordered by the court when ________________
- the contract is voidable
- damages are an adequate remedy
- damages are not an adequate remedy
- the contract is uncertain.
Correct answer: (C)
damages are not an adequate remedy