Quiznetik

Fundamentals of Laws and Ethics | Set 3

1. The test of……….. is whether the person is capable of understanding the business concerned and its implications.

Correct : C. Soundness of mind

2. ……..is the most extreme form of mental unsoundness?

Correct : D. Idiocy

3. The onus of proving insanity is on the …………….

Correct : D. On person who alleges it

4. Which of the following statement is incorrect:

Correct : C. A parda-nashin women is of unsound mind

5. M, a minor, misrepresenting that he is a major induces Z to enter into a contract

Correct : B. M is a not liable on the contract

6. Select the false statement

Correct : B. Restitution of benefit is allowed in case of a minor

7. Which of the following types of persons are not disqualified from contracting?

Correct : D. None

8. Which of the following person do not fall under the category of persons of unsound mind?

Correct : D. Blind Person

9. If there is no consent the agreement is:

Correct : A. Void

10. If consent in not free due to coercion, undue influence, fraud, and misrepresentation then the agreement is:

Correct : B. Voidable

11. If the agreement is made by obtaining consent by doing an act forbidden by the Indian Penal Code, the agreement would be caused by:

Correct : A. Coercion

12. A buys an article thinking that it is worth ` 100 when in fact it is worth only ` 50. There has been no misrepresentation on the part of the seller. The contract is:

Correct : A. Valid

13. Where a person is in a position to dominate the will of another person and uses that position to obtain on unfair advantage it is called:

Correct : C. Undue influence

14. An agreement caused by unilateral mistake of fact is:

Correct : D. Valid

15. Unlawfully detaining or threatening to detain any property, to the prejudice of any person making him to enter into an agreement amounts to:

Correct : B. Coercion

16. An agreement made under mistake of fact, by both the parties, forming the essential subject matter of the agreement is:

Correct : A. Void

17. "Threatening to commit certain acts forbidden by Indian Penal Code" is associated with which one of the following?

Correct : C. Coercion

18. "Active concealment of fact" is associated with which one of the following?

Correct : C. Fraud

19. Lending money to a borrower, at high rate of interest, when the money market is tight renders the agreement of loan:

Correct : B. Valid

20. When a person, who is in dominating position, obtains the consent of the other by exercising his influence on the other, the consent is said to be obtained by:

Correct : D. Undue influence

21. An officer enters into a contract with his subordinate to sell his (subordinate's) house at a lower price than the market price. The subordinate may challenge the contract on the ground of

Correct : B. Undue influence

22. With regard to the contractual capacity of a person of unsound mind, which one of the following statements is most appropriate?

Correct : C. A person who is usually of unsound mind can contract when he is, at the time of entering into a contract, of sound mind

23. While obtaining the consent of the promisee, keeping silence by the promisor when he has a duty to speak about the material facts, amounts to consent obtained by:

Correct : D. Fraud

24. 'A' threatened to commit suicide if his wife did not execute a sale deed in favour of this brother. The wife executed the sale deed. This transaction is:

Correct : B. Voidable due to coercion

25. A contract which is vitiated by undue influence is declared as which one of the following by the Indian Contract Act?

Correct : D. Voidable

26. Consider the following: 1. Active concealment of fact. 2. Promise made without any intention of performing it. 3. Breach of duty which gains an advantage to the person committing it. 4. Inducing mistake as to subject matter. Which of the above amount to fraud?

Correct : A. 1 and 2

27. Coercion is defined in which section of the Indian Contract Act?

Correct : A. Section 15

28. A threatens to shoot B, if B does not agree to sell his property to A at a stated price. B's consent in this case has been obtained by

Correct : C. Coercion

29. What does Section 17 of the Indian Contract Act define?

Correct : C. Fraud

30. If A unlawfully detains B's son in order to coerce B to enter into the agreement, the case would be covered within:

Correct : C. Section 15

31. Factors vitiating consent are:

Correct : D. All of these

32. A master asks his servant to sell his cycle to him at less than the market price. This contract can be avoided by the servant on grounds of:

Correct : B. Undue influence

33. When the consent of a party to the contract has been obtained by fraud, in such a case the contract is:

Correct : B. Voidable

34. A, intending to deceive B, falsely represents that five hundred mounds of Indigo are made annually at A's factory and, thereby, induces B to buy the factory. The contract is

Correct : A. Voidable

35. If A sells, by auction to B a horse which A knows to be unsound and A says nothing to B about the horse's unsoundness, this amounts to:

Correct : B. Not fraud

36. When there is duty to speak, keeping silence is:

Correct : A. Fraud

37. Silence is fraud when silence is, in itself equivalent to speech. This statement is:

Correct : A. True

38. When the person making a false statement believes the statement to be true and does not intend to mislead the other party to the contract it is known as:

Correct : B. Misrepresentation

39. Misrepresentation means:

Correct : D. All the above

40. If a party stands in a fiduciary relation to the other:

Correct : B. He can dominate the will of another

41. A person is deemed to be in a position to dominate the will of another if he:

Correct : C. Both (a) and (b)

42. If both the parties to a contract believe in the existence of a subject, which infact does not exist, the agreement would be

Correct : B. Void

43. For a valid contract

Correct : C. Both (a) and (b)

44. When both the parties to an agreement are under a mistake as to a matter of fact essential to an agreement, the agreement is:

Correct : A. Void

45. In Indian Contract Act, the term consensus ad idem means

Correct : C. Parties agreeing upon the same thing in same sense

46. To prove undue influence, the plaintiff has to prove that:

Correct : C. Both (a) and (b)

47. The validity of contract is not affected by

Correct : B. Mistake of Indian law

48. Error in causa means:

Correct : B. Absence of free consent

49. Error in consensus means:

Correct : A. Absence of consent

50. Unlawful agreements comprise

Correct : A. Illegal agreements

51. The period of limitation for simple contract in India is

Correct : B. 3 years

52. The exceptions to the rule that an agreement in restraint of trade is void, are contained in

Correct : C. Both the above mentioned provisions of the Contract Act & Partnership Act respectively

53. A contract to trade with an enemy is

Correct : C. an agreement opposed to public policy

54. An agreement to share the emoluments of a public office is

Correct : A. Void

55. An agreement, the object of which is to procure a public post, is

Correct : A. Void

56. Under which section of Indian Contract Act, agreements of wager are void?

Correct : C. Section 30

57. An agreement in restraint of parental rights is

Correct : A. Void

58. An agreement will be unlawful if:

Correct : D. The object is forbidden by law

59. An agreement in restraint of marriage is:

Correct : B. Void

60. An agreement in restraint of trade is:

Correct : C. Void

61. A wagering agreement is:

Correct : B. Void

62. A contract of insurance is a :

Correct : D. Contingent contract

63. In a wagering agreement:

Correct : D. One party wins and the other looses

64. Which one of the following statements is correct?

Correct : D. Illegal agreements are always void

65. Which one of the following is not a wagering agreement?

Correct : D. A contract of insurance

66. A wagering agreement in India is declared by the Contract Act as

Correct : B. Void but not illegal

67. Which one of the following is a void agreement?

Correct : D. All of the above

68. Agreement to do an impossible act has been declared

Correct : A. Void

69. Agreement in restraint of marriage has been defined in

Correct : D. Section 26

70. An agreement which restricts a person's freedom to marry or to marry any person of his choice is against public policy and is

Correct : C. Void

71. An agreement of service under which an employee agrees that he will serve a particular employer for a certain duration and that he will not serve anybody else during that period, is a

Correct : A. Valid agreement

72. If the seller agrees to supply all the goods produced by him to a certain buyer and to nobody else, and the buyer also, in turn undertakes to accept the whole of the quantity, the agreement is

Correct : D. None of these

73. Section 28 of the Indian Contract Act, speaks about

Correct : A. Agreement in restraint of legal proceedings

74. Ambiguous and uncertain agreements are defined in

Correct : D. Section 29

75. If an agreement suffers from any uncertainty, it is

Correct : B. Void

76. If the contract is impossible in itself physically or legally the agreement is

Correct : C. Void ab initio

77. If the consideration or object of an agreement is regarded by the court to be immoral or opposed to public policy. The agreement is

Correct : A. Void

78. M, who is a dealer in mustard oil only, agrees to sell to N '500 litres of oil'. This agreement is

Correct : A. Valid contract

79. A and B agree that A shall pay ` 1000 for which B shall afterwards deliver to an either rice or smuggled opium. In this case

Correct : C. The first is valid and the second is void

80. A agrees to sell to B a 'hundred tons of oil'. There is nothing whatever to show what kind of oil was intended. The agreement is

Correct : B. Void for uncertainty

81. A agrees to sell to B 'my white horse for `500 or ` 1,000'. There is nothing to show which of the two prices was to be given. The agreement is

Correct : B. Void

82. Agreements between a husband and wife living in friendly environment are

Correct : C. Domestic arrangements

83. A promised to marry none else than Miss B and in default to pay her a sum of ` 1,000. Subsequently A married Miss C and Miss B sued for recovery of ` 1,000. The contract is

Correct : B. Void

84. A promises B to pay ` 100 if it rains on Monday, and B promises A to pay ` 100 if it does not rain on Monday. This agreement is

Correct : C. a wagering agreement

85. P engages B to kill C and borrows ` 100 from D to pay B. If D is aware of the purpose of the loan, the transaction is

Correct : C. Illegal

86. A leaves a firm doing a particular business in Mumbai. He agrees with the other partners of the firm not to start a similar business as that of the firm in and around Mumbai for 3 years. This agreement is

Correct : A. Valid

87. A, while filling up the insurance application form, states his age as 25 believing it to be true. His actual age was 27. The Life Insurance Corporation issued a policy in his favour charging a lower premium than what it should have charged if the actual age had been given. This is a case of

Correct : B. Misrepresentation

88. B, having discovered a vein of ore on the estate of A, adopts means to conceal, and does conceal, the existence of the ore from A. Owing to A's ignorance B is enabled to buy the estate at a low- price. The contract is

Correct : C. Voidable at the option of A

89. B let a cabin on hire to P a prostitute, knowing that it would be used for immoral purposes. The agreement is

Correct : D. Void

90. A enters into an agreement with B who has robbed A of `10,000 to drop prosecution against him (B) in consideration of B's returning ` 8,000. Afterwards B refused to pay. A can get from B

Correct : C. Nothing

91. A agrees with B to discover treasure by magic for a consideration of ` 500. This is

Correct : A. A void agreement

92. X, a tailor, employed Y as his assistant under an agreement that Y, on termination of his employment shall not start the business of a tailor. This restraint is

Correct : A. Void

93. X leaves a firm doing a particular business in Delhi. He agrees with other partners of the firm not to start a similar business as that of the firm in Delhi for 2 yea` This agreement is

Correct : B. Valid

94. X promises to supply Y one tola of gold brought from the sun. This is

Correct : C. a void agreement

95. A promises B not to carry on a similar business as that of B if B pays him a certain amount. B pays the money but A continues to carry on the business. B can

Correct : A. Do nothing

96. A purchases B's business of selling neckties in Delhi. A can restrain B from

Correct : C. Doing the business of selling neckties in Delhi for a limited period

97. A promised to marry B and none else and promised her to pay a sum of `5000 in addition to what he gets from the other party if he marries someone else. A marries C and gets ` 10,000 from C. B can get from A

Correct : C. Nothing

98. A promised B to obtain an employment for him in a public office. B promised to pay `2,000 to A for this. B gets a job through A but refuses to pay the money. A can

Correct : C. Do nothing

99. A, a Hindu already married with a living wife B, enters into a marriage agreement with a widow of 30 years of age. This agreement is

Correct : D. Void, because of being forbidden by law

100. Rajeev entered into a contract with Lata to marry her on a fixed date. However, before the marriage date. Rajeev went mad. With reference to the Indian Contract Act which is the valid response?

Correct : C. The contract becomes void