Business law

1. 1. An agreement enforceable by law is a

2. 
   

• (a) Promise

• (b) Contract

• (c) Obligation

• (d) Lawful promise

2. When the consent of a party is not free, the contract is-

• (a) Void

• (b) Voidable 

• (c) Valid

• (d) Illegal

3. 3. A void agreement is one which is - 

• (a) Valid but not enforceable

• (b) Enforceable at the option of both the parties

• (c) Enforceable at the option of one party

• (d) Not enforceable in a court of law.

4. 4. An offer may lapse by-

• (a) Revocation

• (b) Counter Offer

• (c) Rejection of offer by offeree

• (d) All of these

5. 5. A notice in the newspaper inviting tenders is-

• (a) a proposal

• (b) An invitation to proposal 

• (c) A promise

• (d) An invitation for negotiation