BRF - CONTRACT

Which of the following is NOT a type of offer?

• a) General offer

• b) Specific offer

• c) Conditional offer

• d) Composite offer

What is a contract defined as?

• a. An informal agreement

• b. A legally enforceable agreement

• c. A type of business transaction

• d. A mutual understanding without obligations

In the context of contracts, what is a proposal referred to in the Indian Contract Act?

• a. Agreement

• b. Quotation

• c. Offer

• d. Contract

Who is termed as the offeror?

• a. The person accepting the offer

• b. The person making the offer

• c. The person negotiating the terms

• d. The person drafting the contract

What are cross offers?

• a. Offers made one after another

• b. Offers made alternatively

• c. Identical offers made by two parties unaware of each othe

• d. Offers that involve multiple terms

What is required for an offer to be valid?

• a. It must be vague

• b. It must be social

• c. It must be communicated to the offeree

• d. It must have multiple parties involved

Under what circumstances can an offer be revoked?

• a) After acceptance

• b) Only upon formal declaration

• c) At any time before acceptance is communicated

• d) After a reasonable time has passed

Consideration in a contract is defined as:

• a) A gift given to the offeree

• b) Something in return for a promise

• c) An implied condition of acceptance

• d) The silence of the parties involved

According to the Act, which of the following is NOT a condition for a person to have the capacity to contract?

• a. Must be of sound mind

• b. Must be of the age of majority

• c. Must have a legal guardian

• d. Must not be disqualified by law

What is the age of majority according to the Indian Majority Act, 1875?

• a. 16 years

• b. 18 years

• c. 21 years

• d. 25 years