Business Law

191. An offer may lapse by

1. Revocation
2. Counter Offer
3. Rejection of offer by offeree
4. All of these

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192. Which of the following statement is true?

1. There can be a stranger to a contract
2. There can be a stranger to a consideration
3. There can be a stranger to a contract & consideration
4. None of the above

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193. Ordinarily, a minor's agreement is

1. Void ab initio
2. Voidable
3. Valid
4. Unlawful

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194. The threat to commit suicide amounts to

1. Coercion
2. Undue influence
3. Misrepresentation
4. Fraud

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195. On the valid performance of the contractual obligations by the parties, the contract;

1. Is discharged
2. Becomes enforceable
3. Becomes void
4. None of these

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196. In case of anticipatory breach, the aggrieved party may treat the contract;

1. As discharged and bring an immediate action for damages
2. As operative and wait till the time for performance arrives
3. Exercise option either (a) or (b)
4. None of these

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197. A contingent contract depend on the happening of the future uncertain event can be enforced when the event;

1. Happens
2. Becomes impossible
3. Doesn't happen
4. Either of these

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198. On the acceptance of an offer by a offeree

1. Only the acceptor becomes bound by accepting the offer
2. Only the offeror becomes bound as his terms are accepted
3. Both the acceptor and offeree becomes bound by the contract
4. None of these

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199. Which of the following persons are not competent to contract?

1. Minors
2. Persons of unsound mind
3. Persons disqualified by law
4. All of these

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200. When the consent of a party is obtained by coercion undue influence, fraud or misrepresentation, the contract is;

1. Void
2. Voidable
3. Valid
4. Illegal

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