Tag: commerce

Questions Related to commerce

A sum of money was agreed to be paid to the father in consideration of his giving his daughter in marriage. agreement is void on grounds of being __________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. restraint of marriage

  2. marriage brokerage contract

  3. restraint of personal liberty

  4. restraint of legal proceedings.

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Correct Option: B

Which of the following relationships do not raise a presumption of dominance of will?

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. Trustee and Beneficiary

  2. Doctor and Patient

  3. Husband and Wife

  4. Father and Son

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Correct Option: C

Erroneous opinion as to value of subject matter is not a Mistake of Fact.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. True

  2. False

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Correct Option: A

Mistake as to Foreign Law is treated in the same manner as _____.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. Mistake of Indian Law

  2. Mistake of Fact

  3. Misrepresentation

  4. Fraud

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Correct Option: B

Peter buys a mosquito killer machine assuming that it is worth Rupees 50000. But actually costs Rupees 5000. The remedy available to Perer ______

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. He can avoid contract on the ground of mistake

  2. He cannot avoid contract on the ground of mistake

  3. He can claim Rupees 5000

  4. He can claim Rupees 50000

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Correct Option: B

G paid Rs. 1,00,000 to H to influence the head of the Government Organisation in order to provide him some employment. On his failure to provide the job, G sued H for recovery of the amount. Which of the following is correct?

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. G can recover the amount of Rs. 10,000

  2. G can recover the amount of Rs. 10,000 with interest.

  3. G can file a suit

  4. G cannot recover the amount

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Correct Option: D

When the performance of a contract becomes impossible, the purpose which the parties had in mind is frustrated. If the purpose becomes impossible because of supervening event, the Promisor is excused from the performance of the contract. This is known as ________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. doctrine of frustration

  2. initial impossibility

  3. lapse of time

  4. operation of law

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Correct Option: A

A and B contract that B shall build a house for A for Rs. 9 Lakhs. B is ready and willing to construct the house, but A prevents him from doing so. In this case _________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. B can opt to rescind the contract

  2. B is entitled to recover compensation for any loss suffered by him.

  3. either (a) or (b)

  4. both (a) and (b)

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Correct Option: D

If the time is the essence of Contract and it is not performed with in specified time, then __________.

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. the Contract cannot be performed later on

  2. the promisor can compel the promisee to accept the performance later on

  3. the Contract becomes voidable at the option of promise

  4. the Contract becomes voidable at the option of promisor

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Correct Option: C

If any one of the joint promisors makes a default in making contribution. How will it be settle down by other promisors?

commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

  1. Representative of promisor will be liable to contribution

  2. Contribution will be dismissed automatically

  3. Representative of a promisor will be liable along with other joint promisors

  4. The remaining joint promisors will be liable to contribute

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Correct Option: D