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Need an account? Click here to sign up. Download Free PDF. Rpf5 A short summary of this paper. An agreement enforceable at law is a a enforceable acceptance b accepted offer c approved promise d contract 2. Every promise and every set of promises, forming the consideration for each other, is an a agreement b contract c offer d acceptance.
Promises which form the consideration or part of the consideration for each other are called a reciprocal promises b cross offers c conditional offer d conditional promises. An agreement not enforceable by law is stated to be void under a section 2 d b section 2 e c section 2 f d section 2 g. Offer as defined under section 2 a is a communication from one person to another b suggestion by one person to another c willingness to do or abstain from doing an act in order to obtain the assent of other thereto d none of the above.
Under section 2 b if the person to whom the proposal is made signifies his assent the proposal is said to have been a accepted b agreed c provisionally agreed d tentatively accepted. A proposal when accepted becomes a promise under section 2 b b agreement under section 2 e c contract under section 2 h d none of the above.
Promises which form the consideration or part thereof, for each other under section 2 F are called a acceptances for different proposals b agreements c reciprocal promises d consideration. Every promise or set of promises forming the consideration for each other under section 2 e is called a reciprocal promise b contract c agreement d none of the above.
In a valid contract, what comes first a enforceability b acceptance c promise d proposal. Under section 2 c promisor is the a person who makes the proposal b person who accepts the proposal c person who makes the promise d person to whom the proposal is made. Under section 2 c promisee is the a person who makes the proposal b person who accepts the proposal c person who makes the promise d person to whom proposal is made.
Goods displayed in a shop with a price tag is an a offer b invitation to offer c counter offer d none of the above. Communication of a proposal is complete a when it is put in the course of transmission b when it comes to the knowledge of the person to whom it is made c when the proposal is communicated to the person to whom it is made d all the above. Communication of acceptance is complete as against the proposer a when it comes to the knowledge of the proposer b when it is put in the course of transmission to him so as to be out of power of the acceptor c when the acceptance is communicated to the proposer d all the above.
Communication of acceptance is complete as against the acceptor a when it comes to the knowledge of the proposer b when it is put in the course of transmission c when it is communicated to the acceptor that the acceptance has reached the proposer d when the proposer conveys the acceptance to the acceptor. Revocation of offer by letter or telegram can be complete a when it is despatched b when it is received by the offeree c when it reaches the offeree d both a and c.
A contract with or by a minor is a a valid contract b void contract c voidable contract d voidable at the option of either party. A contract which ceases to be enforceable by law becomes void a when it ceases to be enforceable b before it ceases to be enforceable c no such condition necessary d none of above. A proposal can be accepted a by notice of acceptance b by performance of condition of proposal c by acceptance of consideration for a reciprocal promise d all the above.
A letter of acceptance sent by post is lost in transit a there is a concluded contract as the letter of acceptance is put in the course of transmission b there is no concluded contract as the acceptance has not come to the knowledge of the proposer c there is no concluded contract as the acceptance has not been communicated to the proposer d all the above.
When the consent to the contract is caused by coercion, the contract under section 19 is a valid b voidable c void d illegal. A's son forged B's name to a promissory note. B under threat of prosecuting A's son obtains a bond from A for the amount of the forged note. When the consent is caused by misrepresent-tation, the contract under section 19 is a valid b void c voidable d illegal. When the consent is caused by undue influence, the contract under section 19A is a valid b void c voidable d illegal.
Where both the parties are under mistake as to matter of fact, the contract under section 20 is a voidable b void c valid d illegal. Where one of the parties is under a mistake as to matter of fact the contract is a valid b void c voidable d illegal. If only a part of the consideration or object is unlawful, the contract under section 24 shall be a valid b voidable c void d illegal. A contract without consideration under section 25 is a valid b voidable c void d illegal.
Consideration should be something in return of promise which a both the law and parties regard, as having some value b only law regards a having some value c only the parties regard some value d only adequate value necessary. Parties are not competent to contract if any of them is a minor b insane c declared unqualified d all the above. Consent under section 13 means a agreeing on the same thing in the same sense b agreeing on the same thing at the same time c agreeing on the same thing at different time d agreeing on different things at different times.
A contract which is valid initially however, ceases to be enforceable subsequently, the contract a remains valid b becomes voidable when enforceable c becomes void when it enforceable d becomes void since inception. An agreement in restraint of trade under section 27 is a valid b voidable c void d unenforceable An agreement restraint of trade is valid under section 27 if relates to a sale of goodwill b mutual adjustment c business contingency d none of the above. An agreement not to pursue any legal remedy to enforce the rights under section 28 is a valid b voidable c void d unenforceable.
An agreement not to persue legal remedies but to refer the dispute to the arbitrator, under section 28 is a valid b voidable c void d unenforceable. An agreement by way of wager under section 30 is a void b voidable c valid d unenforceable An agreement in connection with horse- racing under section 30 is a unlawful b void c voidable d valid. An agreement in restraint of marriage under section 26 is a void b voidable c valid d unenforceable Coercion which vitiates free consent under section 15 is a committing or threatening to commit any act which is forbidden by law b committing or threatening to commit any act which is forbidden by Indian Penal Code c unlawful detaining or threatening to detain any property with an intention to causing any person to enter into an agreement d all the above.
Law of contract primarily a specifies the circumstances in which promises are binding on the parties to the contract b lays down certain norms by which the parties are bound c lays down the circumstances under which a promise may be made d all the above. A person is deemed to be in a position to dominate the will of another by undue influence if the mental capacity is affected temporarily or permanently by a reason of age b reason of illness c mental or bodily distress d all the above.
An agreement to remain unmarried is a valid b voidable c void d unenforceable. A general offer open for world at large can be accepted a by sending a communication of acceptance b by complying with the conditions of offer c by tendering himself to comply the conditions of offer d none of the above.
Which one of the following does not amount to fraud a suggestion as a fact which is not true, by one who does not believe it to be true b active concealment of a fact c a representation made without knowing it to be false, honestly believing it to be true d a promise made without any intention of performing it.
Inadequacy of consideration does not make the contract a void b voidable c unenforceable d neither void nor voidable. Inadequacy of consideration is relevant in determining the question of a fraud b misrepresentation c undue influence d free consent. A contract based on the happening or non- happening of a future event under section 31 is called a a contingent contract b a wagering contract c a contract marked with uncertainty and hence void d none of the above.
A contingent contract to do or not to do anything on the happening of an uncertain future event under section 32 a is never enforceable b becomes enforceable only on the happening of that event c enforceable since the time of making it d becomes enforceable in the immediate possibility of happening of that event.
A contingent contract a is void b never becomes void c becomes void when the event becomes impossible d is voidable. Two persons have the capacity to contract under section 11 a if both are major b if both are not of unsound mind c if none is declared unqualified to contract d all are correct.
A contract with minor is a voidable at the instance of the minor b voidable at the instance of other party c void d valid. An agreement to do an act impossible in itself under section 56 is a void b valid c voidable d unenforceable. A promisee can accept the performance a from the promisor himself b from the representative of the promisor competent to perform c from a third person d all the above.
In cases of joint promise generally a promisee can compel a all the joint promisors to perform b any one of them to perform c some of them to perform d all the above. Generally, the joint promisors can a compel each other to contribute equally b not to compel each other to contribute equally c cannot compel each other to contribute d none of the above. Where one of the joint promisors makes a default in contribution of performance a the other joint promisors have no right against the defaulter b have to bear the loss in equal share c not supposed to bear the loss d the contract becomes void to that extent.
In a contract not specifying the time for performance, the promisor can perform the contract a within any time howsoever long it may be b within the shortest time c within a reasonable time d none of the above. If the time of performance of the contract is the essence of the contract and the promisor fails to perform the contract by the specified time a the contract becomes void b the contract remains valid c the contract becomes voidable at the instance of the promisee d the contract becomes unenforceable.
In contract for sale of immovable property the presumption is that the time is a the essence of the contract b not the essence of the contract c the essence of the contract but failure does not make the contract voidable d not the essence of the contract but makes the contract voidable at the instance of the other party. A contract, performance of which becomes impossible or unlawful becomes a void when the performance becomes unlawful or impossible b void c voidable when the performance becomes impossible.
The Limited Liability Partnership Act, 6 of is an Act to make provisions for the a formulation and regulation of General Partnership Firms and Limited Liability formed under Indian Partnership Act, b formulation and regulation of Joint Ventures with unlimited liability formed under Indian Contract Act, c formulation and regulation of Chit Funds Organisations with unlimited liability formed under the Chit Funds Act, d formation and regulation of Limited Liability Partnership with limited liability formed under the Limited Liability Partnership Act, Foreign Limited Liability Partnership FLLP under the Limited Liability Partnership Act, means a a Limited Liability Partnership formed, incorporated or registered in that country to which the partners belong b a Limited Liability Partnership formed, incorporated or registered under Economic Council of UNO c a Limited Liability Partnership formed, incorporated or registered in Indian territory d a Limited Liability Partnership formed, incorporated or registered outside India which establishes a place of business within India.
Every Limited Liability Partnership as per the Limited Liability Partnership Act, shall have at least two Designated Partners DPs who are individuals and a at least one among them shall be resident in India b both of them shall belong to one family residing in India c both of them should be non-resident Indians NRIs d both of them should belong to a single country outside India.
Prior to the Indian Partnership Act, which came into force from 1 October, except section 69 which came into force from 1 October, , the law of partnership was provided in a Sale of Goods Act, b Indian Contract Act, c Transfer of Property Act, d English Partnership Act, Unilateral dissolution of partnership by partner who is minority shareholder is a not permissible b permissible c permissible if all minority share-holders agree d permissible if Memorandum of Association prescribes.
An act, to be called on 'act of a firm', within the meaning of section 2 a of the Indian Partnership Act, is a every act of the partners b only such acts which give rise to a right enforceable by or against the firm c such acts which do not give rise to a right enforceable by or against the firm d either a or b or c.
The term 'business' has been defined under a section 2 a b section 2 b c section 2 d d section 2 e. Implied agency includes. A gency by estoppel:. Agency may be created by ratification, where an agent acts without authority and the principal ratifies his conduct.
Therefore, it's not an implied agency. Therefore, when two or more persons agree upon the same thing in the same sense is consent under the Indian Contract Act, The correct answer is An offer given to any number of people until is retracted. Important Points. Therefore, the correct answer is Option 2. Statement I: As per Section of the Indian Contract Act, a contract of indemnity is a contract by which one party promises to save the other party from loss caused to him.
Statement II: The person who promises to indemnify or make good the loss is called the indemnity holder and the person whose loss is made is called indemnifier. Section : The promisee in a contract of indemnity, acting within the scope of his authority, is entitled to recover from the promiser-. However, As per Section of the Indian Contract Act , a contract of indemnity is a contract by which one party promises to save the other party from loss caused to him.
Therefore, the person who promises to indemnify or make good the loss is called the indemnified, and the person whose loss is made is called the indemnity holder.
Start Learning. This Act is based upon the principles of English Common Law. All agreements are contracts if they are made by the free consent of parties that are involved in the contract, for a lawful consideration with a lawful object, and are not hereby expressed to be void. The following are the correct sequence implied in the Indian Contract Act 1. Therefore, option 4 is the correct answer. Unilateral contract A contract which ceases to be enforceable by law Implied contract Express contract.
An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract; A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable. Unilateral Contract : A unilateral contract is a contract agreement in which an offeror promises to pay after the occurrence of a specified act. In general, unilateral contracts are most often used when an offeror has an open request in which they are willing to pay for a specified act.
An example of a unilateral contract is an insurance policy contract, which is usually partially unilateral. In a unilateral contract, the offeror is the only party with a contractual obligation. Implied contract : An implied contract is a legally-binding obligation that derives from actions, conduct, or circumstances of one or more parties in an agreement.
It has the same legal force as an express contract, which is a contract that is voluntarily entered into and agreed on verbally or in writing by two or more parties.
Express Contract : An express contract is a contract whose terms the parties have explicitly set out. This is also termed as a special contract. In an express contract, all the elements would be specifically stated. In an express contract, the agreement of the parties is expressed in words, either in oral or written form.
Get Started for Free Download App. Answer Detailed Solution Below Option 2 : a, b, d and c. The following are listed in order of their manifestations: 1. Thus, option 2 is the correct answer. Statement I : Agreement without consideration is always valid.
Therefore, Agreement without consideration is always valid is incorrect. Explanation: Contract Vs. Thus, option 3 is the correct answer. Agency by Estoppel B. Agency of Necessity C. Agency by Ratification D. Agent contract The Agency system is very popular in the current business scenario. Implied Agency: Implied agency arises when there is any conduct, the situation of parties, or is necessary for the case.
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