Indian Contract Act Quiz new

Given are below two statements: Statement 1: A agrees to sell to B " white horse for rupees five hundred rupees or one thousand rupees". This agreement is void. Statement 2: A agrees to sell to B " a hundered tons of Oil. This agreement is valid

• Both Statement 1 and Statement 2 are correct.

• Both Statement 1 and Statement 2 are incorrect.

• Statement 1 is correct, but Statement 2 is incorrect.

• Statement 1 is incorrect, but Statement 2 is correct.

Given below are two statements: one is labelled as assertion(A) and other is labelled as reason(R) Assertion: A contract made under coercion is voidable at the option of the party whose consent was so obtained Reason: Coercion renders contract void ab initio

• Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).

• Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).

• Assertion (A) is false, but Reason (R) is true.

• Assertion (A) is true, but Reason (R) is false.

Given are below two statements: Statement 1: Display of goods by a shopkeeper with prices marked on them, is not an offer but an invitation to the public to make an offer to buy the goods. Statement 2: Price quotations, catalogues and advertisement is newspaper for sale of an article do constitute a valid offer.

• Both Statement 1 and Statement 2 are correct.

• Statement 1 is correct, but Statement 2 is incorrect.

• Both Statement 1 and Statement 2 are incorrect.

• Statement 1 is incorrect, but Statement 2 is correct.

Which one is the correct sequence implied in the Indian Contract Act 1872? (A). Mistake (B). Misrepresentation (C). Coerecion (D). Free consent (E). Soundmind (F). Fraud (G). Undue Influence (H). Competency

• (C) Coercion, (G) Undue Influence, (B) Misrepresentation, (F) Fraud, (A) Mistake, (D) Free Consent, (H) Competency, (E) Sound Mind.

• (H) Competency, (E) Sound Mind, (D) Free Consent, (C) Coercion, (G) Undue Influence, (F) Fraud, (B) Misrepresentation, (A) Mistake.

• (H) Competency, (E) Sound Mind, (D) Free Consent, (C) Coercion, (G) Undue Influence, (A) Mistake, (B) Misrepresentation, (F) Fraud.

• (H) Competency, (E) Sound Mind, (D) Free Consent, (C) Coercion, (G) Undue Influence, (B) Misrepresentation, (F) Fraud, (A) Mistake.

Assertion (A): A person incapable of entering into a contract can be held liable for the repayment of necessary supplies. Reason (R): Section 68 of the Indian Contract Act, 1872, states that the person who supplies necessaries to an incapable person is entitled to be reimbursed from the incapable person.

• Both A and R are true, and R is the correct explanation of A.

• Both A and R are true, but R is not the correct explanation of A.

• A is true, but R is false.

• A is false, but R is true.

Assertion (A): If a person lawfully pays money on behalf of another person, he cannot recover the same amount from the other person. Reason (R): Section 69 of the Indian Contract Act states that a person paying money, which another is bound to pay, is not entitled to reimbursement.

• Both A and R are true, and R is the correct explanation of A.

• Both A and R are true, but R is not the correct explanation of A.

• A is true, but R is false.

• A is false and R is also false.

Assertion (A): A person who finds goods belonging to another can retain possession indefinitely. Reason (R): Section 71 of the Indian Contract Act states that a finder of goods has the same responsibility as a bailee and must return the goods to the true owner.

• Both A and R are true, and R is the correct explanation of A.

• Both A and R are true, but R is not the correct explanation of A.

• A is true, but R is false.

• A is false, but R is true.

Assertion (A): A person who lawfully performs an act or delivers goods for another, without the intention of doing so gratuitously, is entitled to compensation. Reason (R): Section 70 of the Indian Contract Act provides that when a non-gratuitous act is performed, and the other person enjoys the benefit, compensation is mandatory.

• Both A and R are true, and R is the correct explanation of A.

• Both A and R are true, but R is not the correct explanation of A.

• A is true, but R is false.

• A is false, but R is true.

Assertion (A): If a person receives money or goods by mistake, he is entitled to keep them. Reason (R): Section 72 of the Indian Contract Act states that a person who receives money or goods by mistake or under coercion must return them.

• Both A and R are true, and R is the correct explanation of A.

• Both A and R are true, but R is not the correct explanation of A.

• A is true, but R is false.

• A is false, but R is true.

Statement 1: A quasi-contract is an obligation imposed by law to prevent unjust enrichment, even in the absence of a formal agreement.
Statement 2: Quasi-contracts require the consent of both parties to be enforceable.

• • (A) Both Statement 1 and Statement 2 are correct.

• • (B) Both Statement 1 and Statement 2 are incorrect.

• • (D) Statement 1 is incorrect, but Statement 2 is correct.

• • (C) Statement 1 is correct, but Statement 2 is incorrect.