T.Y B.COM
SEMESTER - 5
BUSINESS LAW - I
MCQs = 07-10-2017
1. X lent to Y three sums of rupees 1000, 2000 and 5000. Y sent a sum of rupees 1000 asking X to appropriate money towards third debt of rupees 5000. How can X appropriate this money?
(a) He must appropriate the money in 1: 2: 5
(b) He can appropriate the money for set off of any debts as per his choice
(c) He has to appropriate the money in order of the duration of debt
(d) He has to follow the direction of Y
2. When a new contract is substituted for an existing one between the same parties is called as _________
(a) Novation
(b) Alteration
(c) Rescission
(d) Waiver
3. Acceptance of a lesser fulfillment of the promise made is called as __________.
(a) Novation
(b) Remission
(c) Rescission
(d) Waiver
4. In which of the following cases a contract is discharged by supervening impossibility?
i. Destruction of subject matter.
ii. Death in case of contract of personal service
iii. Outbreak of war
iv. Commercial impossibility
(a) i, ii and iv
(b) iii and iv
(c) i, ii and iii
(d) i, ii, iii and iv
5. Which of the following is landmark judgement in connection with award of damages?
(a) Mohiribibi V. Dharmodas Ghosh
(b) Carlill V. Carbolic Smoke Ball Co.
(c) Chinnaya V. Ramayya
(d) Headly V. Baxendale
6. Damages which are the proximate consequences of the breach of contract are named as __________.
(a) Ordinary Damages
(b) Special Damages
(c) Nominal Damages
(d) Vindictive Damages
7. Every promise and every set of promises, forming consideration for each other is __________.
(a) Contract
(b) Agreement
(c) Offer
(d) Acceptance
8. A contract which cannot be enforced in a Court of law because of some technical defect is known as :
(a) Unenforceable contract
(b) Illegal Agreement
(c) Void Contract
(d) Void Agreement
9. Installation of Coffee vending machine amounts to __________.
(a) Implied Acceptance
(b) Express Acceptance
(c) Implied Offer
(d) Express Offer
10. Which of the following is not legal rule as to offer?
(a) Offer must be such as in law is capable of being accepted and giving rise to legal relationship
(b) Terms of offer must be definite, unambiguous and certain
(c) Terms of offer should not loose and vague
(d) Offer need not be communicated
11. Where a party is doing something which he promised not to do, the Court may, by issuing an order, restrain him from doing what he promised not to do, is known as:
(a) Rescission
(b) Injunction
(c) Quantum Meruit
(d) Specific Performance
12. In which of the following cases specific performance will not be granted
i. Where damages are an adequate remedy
ii. Where the contract is of a personal nature
iii. Where the court cannot supervise its carrying out
(a) i only
(b) ii only
(c) i, ii and iii
(d) ii and iii
13. In case of breach of promise to marry, the damages awarded to the aggrieved party is __________.
(a) Nominal Damages
(b) Ordinary Damages
(c) Special Damages
(d) Vindictive Damages
14. Which of the following are instances of Quasi Contracts?
(a) Obligation to pay for non-gratuitous acts
(b) Supply of Necessaries
(c) Payment by an interested person
(d) All of these
15. In which of the following cases finder of the goods can sell the goods?
(a) When the lawful charges of the finder, in respect of the thing found, amount to 2/3rd of the value of the thing found
(b) When the lawful charges of the finder, in respect of the thing found, amount to 1/3rd of the value of the thing found
(c) When the lawful charges of the finder, in respect of the thing found, amount to 1/4th of the value of the thing found
(d) When the lawful charges of the finder, in respect of the thing found, amount to 2/4th of the value of the thing found
16. Which of the following are legal rules as to acceptance?
(i) It must be absolute and unqualified
(ii) It must be communicated to the offeror
(iii) It must be according to the prescribed model
(iv) It cannot precede an offer
(a) i, ii, iii and iv
(b) i, iii and iv
(c) ii, iii and iv
(d) ii and iv
17. Mr. Shah sent an offer to Mr. Patel by a letter posted on 4th October 2017. The letter comes to the knowledge of Mr. Patel on 7th October 2017. The communication of offer is complete on:
(a) 5th October 2017
(b) 6th October 2017
(c) 7th October 2017
(d) 4th October 2017
18. Females are able to enter into contract on completion of their __________ years of age as per the Indian Contract Act, 1872.
(a) 16
(b) 17
(c) 21
(d) 18
19. Which of the following are exceptions to the rule No consideration No contract?
(i) Love and Affection
(ii) Compensation for voluntary services
(iii) Charitable Subscription
(iv) Covenants running with the land
(a) iii and iv
(b) i and ii
(c) i, ii and iii
(d) i, ii, iii and iv
20. Which of the following is not true in connection with minor's agreement?
(i) Agreement with or by a minor is void ab-initio
(ii) He can be a promise or beneficiary
(iii) He can always plead minority
(iv) His estate is not liable for necessaries
(a) iv
(b) iii
(c) ii
(d) i
21. A threat to commit suicide amounts to __________.
(a) Fraud
(b) Coercion
(c) Undue Influence
(d) Mistake
22. In which of the following relations there is no presumption of undue influence?
(i) Husband and Wife
(ii) Debtor and Creditor
(iii) Landlord and Tenant
(a) i and ii
(b) ii and iii
(c) i, ii and iii
(d) i and iii
23. A promise made without any intention of performing it amounts to __________.
(a) Undue Influence
(b) Coercion
(c) Mistake
(d) Fraud
24. An erroneous belief about something is ___________.
(a) Mistake
(b) Coercion
(c) Fraud
(d) Undue Influence
25. 'Consensus ad idem' means:
(a) Ignorance of law is not an excuse
(b) Meeting of minds of parties
(c) Something in return
(d) Meeting of parties
26. When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal when accepted becomes __________.
(a) Offer
(b) Contract
(c) Promise
(d) Consideration
27. Attempted Performance is also called as __________.
(a) Tender
(b) Vendor
(c) Slander
(d) Barter
28. Which of the following are the requisites of a valid attempted performance?
(i) Unconditional
(ii) At proper time
(iii) At proper place
(iv) To any person
(a) i, ii and iii
(b) i, ii, iii and iv
(c) iii and iv
(d) ii and iv
29. Who amongst the following can demand performance?
(a) Promisor
(b) Promisee
(c) Joint Promisors
(d) Agent of Promisor
30. Promises which form the consideration or part of consideration for each other are called __________.
(a) Cross Promises
(b) Reciprocal Promises
(c) Direct Promises
(d) Indirect Promises
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