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Business Law 2nd Edition Tejpal Sheth - Solutions
What is coercion? State the effects of coercion on the validity of a contract. (Ref. Para-4.3)
Define Consent. When is consent said to be free? (Ref. Para-4.1,4.2)
A promises, for no consideration, to give to B ` 1000.(i) This is a void agreement. (iii) This is a voidable agreement.(ii) This is a valid agreement. (iv) None of the above.
A promises to pay ` 1000 to B if he brings a star from sky to earth and B agrees to bring the star to earth. In this case, contract is(i) valid. (iii) illegal.(ii) void as consideration is illusory. (iv) contingent.
The term privity of contract means(i) stranger to contract. (iii) first party to contract.(ii) contract is private. (iv) second party to contract.
A stranger to contract means(i) first party to contract. (iii) third party to contract.(ii) second party to contract. (iv) either (i) or (ii).
Under the Indian Contract Act, a third person(i) beneficiary under the contract can sue.(ii) from whom the consideration has proceeded can sue.(iii) cannot sue even if the consideration has proceeded from him.(iv) cannot sue at all for want of privity of contract.
A consideration may move from(i) a promisor. (iii) either (i) or (ii).(ii) a promisee. (iv) both (i) and (ii).
A consideration must move at the desire of(i) a promisor. (iii) a stranger.(ii) a promisee. (iv) either (ii) or (iii).
A husband, by a registered agreement promised to pay his wife ` 5000 per month. There was no consideration moving from the wife to the husband. The agreement is …..........(i) void. (iii) valid.(ii) illegal. (iv) unenforceable.
A for natural love and affection, promises to give his son B ` 1000. A puts his promise to B into writing and registers it. This is a(i) contract. (iii) promise.(ii) agreement. (iv) offer.
A consideration may be(i) executory. (iii) either (i) or (ii).(ii) executed. (iv) both (i) and (ii).
An executed consideration(i) can be positive or negative.(ii) the liability is outstanding on one side only.(iii) is an act against, future promise.(iv) all of the above.
An executory consideration can be(i) positive. (iii) neither (i) nor (ii).(ii) negative. (iv) either (i) or (ii).
A consideration must be something which the promisor(i) is already bound to do. (iii) may voluntarily do.(ii) is not already bound to do. (iv) must not do.
A consideration may be(i) past. (iii) future.(ii) present. (iv) either (i) or (ii) or (iii).
An essential feature of a consideration is that(i) it must be cash.(ii) it must be given by the promisee alone.(iii) it must be at the request of the promisor.(iv) it must be in kind.
A consideration in a contract(i) may be any thing. (iii) something in return.(ii) nothing in return. (iv) may be illusory.
A consideration means(i) quid pro lo. (iii) qui pro quo.(ii) quid pro quo. (iv) quid pro quod.
A contracts with an alien enemy before the declaration of war, which are against the national interest, are(i) terminated. (iii) suspended and revived after war.(ii) not affected at all. (iv) none of the above.
In a case where a lunatic enters into a contract for the purpose of ‘necessaries,’ then(i) a lunatic is personally liable to pay.(ii) a lunatic’s guardian is liable to pay.(iii) a lunatic’s estate is liable to pay.(iv) the guardian’s estate is liable to pay.
Which of the following persons do not fall in the category of persons of unsound mind(i) idiots. (iii) aliens.(ii) lunatics. (iv) drunken persons.
Which of the following persons are not competent to the contract being the persons disqualified by law?(i) Alien enemies (iii) Convicts(ii) Insolvents (iv) All of the above
Which of the following are the persons of unsound mind?(i) An idiot (iii) A drunken person(ii) A lunatic (iv) All of the above
Which of these is a not a ‘necessary’ for a minor?(i) Provision of education.(ii) Provision of medical and legal advice.(iii) Provision of a house on rent for the purpose of living and continuing his studies.(iv) Provision of alcoholic drinks.
Which of these has not been held as a ‘necessary’?(i) Food (iii) Shelter(ii) Clothing (iv) Mobile phone
A minor enters into a contract for the purchase of certain necessaries. In such a case(i) he is liable to return the necessaries. (iii) his estate is liable to pay.(ii) he is liable to pay. (iv) his guardian is liable to pay.
A minor, by misrepresenting his age, borrows some money. He(i) can be sued for fraud.(ii) cannot be sued for fraud.(iii) is liable to return the money.(iv) is liable to return the money on attaining majority.
A contract to take a loan by a boy 17 years of age from a money lender of 34 years is(i) valid contract. (iii) quasi contract.(ii) void contract. (iv) void agreement.
A minor can be(i) a partner in a firm. (iii) an employer.(ii) an agent. (iv) all of the above.
A guardian shall ............... for breach of contact by the minor.(i) be held liable (iii) be imprisoned(ii) not be held liable (iv) not be questioned
On attaining the age of majority, a minor’s agreement(i) is void. (iii) becomes void.(ii) cannot be ratified. (iv) can be ratified.
A corporation cannot enter into contracts that are(i) ultra vires its Memorandum of Association.(ii) strictly of a personal nature as it is only an artificial person.(iii) either (i) or (ii).(iv) neither (i) nor (ii).
A convict when undergoing an imprisonment(i) is capable of entering into a contract.(ii) is incapable of entering into a contract.(iii) is capable of entering into a contract, if it is permitted by the court.(iv) is capable of passing on a consideration.
Competence to contract means(i) age of the parties. (iii) both (i) and (ii).(ii) soundness of the mind of the parties. (iv) intelligence of the parties.
Capacity to contract means(i) the parties are financially sound to make contracts.(ii) the parties are physically able to enter into contracts.(iii) the parties are legally competent to enter into contracts.(iv) all of the above.
A promise to pay a time barred debt is not enforceable. Comment. (Ref. Para-3.13)
Explain the rule ‘no consideration, no contract’. Are there any exceptions to this rule? (Ref. Para-3.13)
In what circumstances can a stranger to contract bring suit? (Ref. Para-3.12)
Explain—A stranger can perform a contract. (Ref. Para-3.11)
A stranger to contract cannot sue. Comment. (Ref. Para-3.11)
What do you understand by a stranger to consideration? (Ref. Para-3.11)
Write a short note on the adequacy of a consideration. (Ref. Para-3.10)
What are the essential elements of a valid consideration? (Ref. Para-3.10)
Define consideration. (Ref. Para-3.8)
Insolvent person can enter into a contract. Comment. (Ref. Para-3.7)
Who are treated as persons disqualified by law? (Ref. Para-3.7)
Who are treated as persons of unsound mind? (Ref. Para-3.6)
A minor is personally liable for the necessaries supplied to him. Comment. (Ref. Para-3.5)
What are necessaries for minor as per the contract act? Give few examples of necessaries. (Ref. Para-3.5)
A minor can be a promisee. Comment. (Ref. Para-3.3)
Ratification by a minor’s agreement is not allowed after attaining the majority by him. (Ref. Para-3.3)
A minor cannot recover the price of goods sold on credit to a major.Evaluate the correctness of the statement. (Ref. Para-3.2)
Write a short note on the capacity of parties to enter into a contract. (Ref. Para-3.1,3.2,3.6,3.7)
Discuss briefly the position of a minor with regard to the contracts entered into by him. (Ref. Para-3.2,3.3)
Who is competent to enter into a contract? (Ref. Para-3.1)
Which of the following is correct?(i) The acceptance must precede an offer.(ii) The acceptance may be given in any manner unless the offeror insists acceptance in the prescribed manner.(iii) Silence always amounts to acceptance.(iv) The acceptance may be valid even if the offeree adds certain
Which of the following statements is correct?(i) The valid contract cannot result from identical cross offers.(ii) The proposal when accepted becomes a promise.(iii) The rejected offer cannot be accepted.(iv) All of the above.
A proposes, by letter, to sell a house to B for ` 10,000. The communication of the proposal is complete(i) when B receives the letter. (iii) when A signs the letter.(ii) when A dispatches the letter. (iv) when B knows about the letter.
Which of the following is the legal rule of the valid acceptance?(i) An acceptance must be given within prescribed or reasonable time.(ii) An acceptance must be given before the lapse of an offer.(iii) An acceptance may be expressed or implied.(iv) All of the above.
The general offer made to the public at large is valid and a binding contract is made with person who having the knowledge of the offer(i) comes forward and acts accordingly.(ii) acts accordingly and his act is ratified by the offeror.(iii) seeks the offeror’s permission to accept the offer.(iv)
The person making the offer is known as the ‘offeror’ or the ‘promisor’ and to whom it is made is known as(i) acceptor. (iii) offeree or promisee.(ii) acceptor for honour. (iv) contracting party.
When two persons agree to enter into an agreement in the future, there is .............. between them.(i) a valid contract (iii) an agreement(ii) no contract (iv) a consensus
The acceptance on telephone should be(i) heard by the offerer. (iii) understood by the offerer.(ii) audible to the offerer. (iv) all of the above.
Conditions on the reverse of a train ticket, air ticket, bill issued by service providers are examples of(i) normal business policy. (iii) special conditions.(ii) space saving measure. (iv) general rules of Contract Law.
Which of the following is incorrect?(i) A valid contract results from identical cross offers.(ii) Communication of the offer is complete when the letter of offer is posted though it has not reached the person to who the offer is made.(iii) An offer and invitation to offer are the same.(iv) All of
When no mode is prescribed by the offerer for the acceptance of his offer, such acceptance shall be made(i) By telephone.(ii) As desired by the offeree.(iii) In some usual and reasonable manner.(iv) None of the above.
In order to convert a proposal into a promise, the acceptance must be(i) absolute. (iii) express.(ii) unqualified. (iv) all of the above.
The general offer can be accepted by(i) sending a communication of acceptance. (iii) complying with the conditions of offer.(ii) mental acceptance of offer. (iv) making a counter offer.
The specific offer can be accepted by(i) any person. (iii) only the person to whom it is made.(ii) any friend of the offerer. (iv) any friend of the offeree.
The acceptance may be(i) express. (iii) neither (i) nor (ii).(ii) implied. (iv) either (i) or (ii).
An offer can be accepted by(i) a notice of acceptance.(ii) a performance of condition specified in the offer.(iii) an acceptance of consideration for a reciprocal promise.(iv) all of the above.
An offer comes to an end after the expiry of(i) time stipulated for acceptance. (iii) either (i) or (ii).(ii) a reasonable time. (iv) neither (i) nor (ii).
In which of the following circumstances, the offer comes to an end?(i) Lapse of time.(ii) Counter offer.(iii) Death of offerer or offeree before acceptance.(iv) All of the above.
A offers to sell his car for ` 50,000 to B. B says he would buy it for ` 40,000. This is a case of(i) counter offers. (iii) direct offers.(ii) implied offers. (iv) express offers.
When the offers made by two persons to each other containing similar terms of bargain cross each other in post, they are known as(i) cross offers. (iii) direct offers.(ii) implied offers. (iv) express offers.
There is a counter-offer when(i) the offeree gives conditional acceptance. (iii) the offeree makes some query.(ii) the offerer makes a fresh offer. (iv) the offeree accepts it.
Which of the following is an invitation to offer?(i) A tender to supply goods at a certain time. (iii) A bid in an auction sale.(ii) A request for a loan. (iv) A catalogue of goods for sale.
The statement of lowest price at which the seller would sell his goods constitutes(i) a valid contract. (iii) an express contract.(ii) a implied contract. (iv) no contract.
An application filled in by a prospective applicant to the company is an example of(i) an invitation to offer. (iii) bid.(ii) an offer. (iv) an acceptance.
Which of the following conditions is not necessary for a valid offer?(i) The intention to obtain consent of the offeree.(ii) The communication to the person to whom it is made.(iii) The intention to create legal obligation.(iv) Expressed in written form.
Which of the following conditions is not necessary for a valid offer?(i) The intention to create legal relation.(ii) The unconditional terms.(iii) The certainty of terms.(iv) The communication to the person to whom it is made.
Terms of the offer must be(i) ambiguous. (iii) definite.(ii) uncertain. (iv) vague.
A proposes by letter, to sell his horse to B at ` 10,000. Communication of the proposal is complete when(i) A posts the letter.(ii) B receives the letter.(iii) B acknowledges to A that he has received the letter.(iv) either (ii) or (iii), whichever is earlier.
Communication of the proposal is complete when it comes to the knowledge of(i) the person to whom it is made. (iii) either (i) or (ii).(ii) the Proposer. (iv) the Central government.
The offer made to a specific person is known as a(i) standing offer. (iii) special offer.(ii) specific offer. (iv) separate offer.
The offer which is allowed to remain open for the acceptance over a period of time is known as a/an(i) standing offer. (iii) express offer.(ii) specific offer. (iv) implied offer.
A offers to sell his car on internet, it is(i) an express offer. (iii) a particular offer.(ii) an implied offer. (iv) no offer.
A specific offer is one which is made(i) by A to B.(ii) by a father to his only son for the sale of his factory to him.(iii) by a father of a girl to the father of an only son for her marriage.(iv) by all of the above.
An offer can be accepted by(i) offeror. (iii) promisor.(ii) offeree. (iv) either (i) or (ii).
An offer may be made(i) by words. (iii) either (i) or (ii).(ii) by conduct. (iv) neither (i) nor (ii).
A proposal may consist of a promise for(i) doing an act. (iii) either (i) or (ii).(ii) abstaining from doing an act. (iv) returning the consideration.
An implied offer means an offer made(i) by spoken words. (iii) by body language.(ii) by SMS. (iv) by both (i) and (iii).
When is the communication of an offer and its acceptance complete? (Ref. Para-2.9)
Explain the general rules as to the communication of the acceptance? (Ref. Para-2.8)
Mere mental acceptance is no acceptance of an offer. Explain. (Ref. Para-2.7)
When can silence amount to acceptance? (Ref. Para-2.7)
The acceptance subject to contract is no acceptance. (Ref. Para-2.7)
Silence does not amount to the acceptance of an offer. Is it correct? (Ref. Para-2.7)
State the rules relating to the acceptance of an offer. (Ref. Para-2.7)
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