SURPRISE TEST1

Void contract is:

• A contract which ceases to be enforceable by law but is in effect

• A contract which ceases to be enforceable by law is no longer enforceable

• Either (A) or (B)

• None of these

The person making the proposal is called the and the person accepting the proposal is called

• • Proposor/ Proposee

• • Promisee/ Promisor

• • Promisor/Promisee

• • Proposee/ Proposor

An agreement enforceable by law is:

• • A voidable contract

• • Void

• • A contract

An agreement was entered into with the minor. This is agreement is:

• • Void

• • Voidable

• • Illegal

The consideration must be:

• • Adequate

• • Must be adequate

• • Need not be adequate

The consideration may be:

• Past

• Present

• Future

• All are corrent

Goods may be:

• Future

• Contingent

• Existing

• All the above

The conditions and warranties in a sale of goods may be:

• • Express or implied

• • Express

• • Implied

• None

“Specific goods” means:

• • Goods identified and agreed when actual sale is made.

• • Goods identified and agreed upon at the time a contract of sale is made.

• • Goods to be identified only when the buyer is making cash purchases.

• • Goods identified at the time a contract of sale is made.

Any one can become an

• Agent

• Principal

• Contractor

• Partly agent