Business Law

71. S and P go into a shop, S says to the shopkeeper, C let P have the goods and if he does not pay you, I will ― This is a

  1. contract of guarantee
  2. contract of indemnity
  3. wagering agreement
  4. quasi contract
Correct answer: (A)
contract of guarantee

72. In a sale, the property in goods

  1. is transferred to the buyer
  2. is yet to be transferred to the buyer
  3. may be transferred at a future time
  4. istransferred when goods are delivered to the buyer
  5. is transferred when the buyer pays the price
Correct answer: (A)
is transferred to the buyer

73. If a sale is by sample as well as by description , the implied condition is that the goods shall correspond with

  1. sample
  2. description
  3. both sample and description
  4. either sample or description.
Correct answer: (C)
both sample and description

74. In a sale , there is an implied condition on the part of the seller that he

  1. has a right to sell the goods
  2. is in possession of the goods
  3. will have the right to sell
  4. will acquire the goods
Correct answer: (A)
has a right to sell the goods

75. In case of a wrongful dishonour of a cheque by a banker having funds to the credit of the customer ,the court may award

  1. ordinary damages,
  2. nominal damages
  3. exemplary damages
  4. contemptuous damages.
Correct answer: (C)
exemplary damages

76. An agreement is a voidable contract when it is

  1. enforceable if certain conditions are fulfilled.
  2. enforceable bylaw at the option of the aggrieved party.
  3. enforceable by both parties d)not enforceable at all.
  4. An agreement not enforceable by law is said to be
Correct answer: (B)
enforceable bylaw at the option of the aggrieved party.

77. Acceptance may be revoked by the acceptor

  1. at any time
  2. before the letter of acceptance reaches the offerer
  3. after the letter of acceptance reaches the offeree
  4. before the death of the acceptor.
Correct answer: (B)
before the letter of acceptance reaches the offerer

78. Consideration must move at the desire of

  1. the promisor,
  2. the promisee,
  3. promisor or any other third party,
  4. both the promisor and the promisee.
  5. any third party
Correct answer: (A)
the promisor,

79. On attaining the age of majority a minor‘s agreement

  1. can be ratified by him
  2. cannot be ratified by him
  3. becomes void
  4. becomes valid.
Correct answer: (B)
cannot be ratified by him

80. When consent to an agreement is obtained by undue influence, the agreement is a

  1. contract voidable at the option of the party whose consent was so obtained
  2. void contract.
  3. valid contract
  4. void agreement.
Correct answer: (A)
contract voidable at the option of the party whose consent was so obtained
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