Indian Contract Act 1872 MCQ
What is a Contract according to Indian Contract Act 1872 ?
Indian Contract Act frames and validates the contracts or agreements between various parties. Contract Act is one of the central laws that regulate and oversee all the business wherever there is a case of a deal or an agreement. The following section will tell us what a contract is.
We will see how the Indian Contract Act, 1872 defines a contract. We will also define the terms as per the Act and see what that means. In these topics, we will decipher all the vivid aspects of the Contract Act. Let us begin by understanding the concept of a contract.
31. All illegal agreements are ………….
(a) Void- ab- initio
(b) Valid
(c) Contingent
(d) Enforceable
Answer -a
32. A promise to give money or money’s worth upon the determination or ascertainment of an uncertain event is called …………..
(a) Wagering Agreement
(b) Unlawful Agreement
(c) Illegal Agreement
(d) Voidable Agreement
Answer -a
33. A Contingent Contract is a contract to do, or not to do something if some event, collateral to such contract
(a) happens
(b) does not happen
(c) Neither (a) nor (b)
(d) Either (a) or (b)
Answer -b
34. The phrase “Quantum Meruit” literally means –
(a) As much as is earned
(b) The fact in itself
(c) A Contract for the sale
(d) As much as is gained.
Answer – a
35. Which of the following is the essential ingredient of contract of indemnity:
(a) Contract to make good the loss
(b) Loss must be caused to the indemnity holder.
(c) Loss may be caused by promiser or any other person
(d) All of the above.
Answer -d
36. How agency is created:
(a) By Direct appointment
(b) By implication
(c) By necessity
(d) All of the above
Answer -d
37. An agreement which is enforceable by law at the option of one party
(a) Valid contract
(b) Void contract
(c) Voidable contract
(d) Illegal contract
Answer -c
38. A Gratuitous Promise can
(a) Be enforced
(b) Not be enforced
(c) Be enforced in court of law
(d) None of above
Answer -b
39. If A makes an offer to B on a particular day, then the offer can be revoked by A before
(a) B accepts the offer
(b) A receives B’s acceptance
(c) B has posted the letter of acceptance
(d) Reasonable period of time
Answer – c
40. The two types of breach are
(a) Actual breach and Deemed breach
(b) Actual breach and Conditional breach
(c) Actual breach and Anticipatory breach
(d) Actual breach and Remedial breach
Answer -c
