Q. Voidable contract is one
✅ Correct Answer: (C)
Which is valid if it is not avoided by the party entitled to do so.
Business Laws MCQs and Notes
Q. Where a contract has to be inferred from the conduct of parties, it is called
✅ Correct Answer: (B)
Implied contract.
Q. A invites B for coffee in Coffee day Restaurant and B accepts the invitation. On the appointed date, B goes there but A does not come. In this case
✅ Correct Answer: (A)
B has no remedy against A.
Q. Anuj agrees to pay Rs10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes:
✅ Correct Answer: (B)
Void
Q. Which of the following is false with respect to minor entering a contract?
✅ Correct Answer: (C)
The guardian of a minor is responsible for his acts
Q. Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps to correct the error. Now Sonia wants to cancel the contract based on fraud. Which of the following statement is correct?
✅ Correct Answer: (D)
Sonia can claim damages
Q. In Indian Contract Act, the term consensus ad idem means
✅ Correct Answer: (C)
Parties agreeing upon the same thing in same sense
Q. A husband, by a registered agreement promised to pay wife Rs 5,000 p.m. there was no consideration moving from the wife to the husband. This contract is
✅ Correct Answer: (C)
Valid
Q. A, a minor bought 11 expensive coasts from B. he was, at that time, adequately provided with clothes, but B did not know this fact. In such a case
✅ Correct Answer: (C)
Minor is liable since he has Misled into supply of coats
Q. The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the directions of the person delivering them, then it is called:
✅ Correct Answer: (B)
Bailment