Quiz on the Contract Act of the Kingdom of Bhutan 2013

What is the primary purpose of the Contract Act of Bhutan 2013?

• To establish criminal laws

• To govern contracts in Bhutan

• To regulate property ownership

• To manage tax regulations

Which of the following is NOT a feature of a valid contract?

• Legality

• Consideration

• Agreement

• Unilateral consent

What term describes the parties involved in a contract?

• Lender and Borrower

• Offeror and Offeree

• Promisor and Promisee

• Buyer and Seller

What is required for a contract to be legally enforceable?

• It must be notarized

• It must be verbal

• It must be in writing

• It must have free consent

Which of the following is a type of contract based on validity?

• Quasi Contract

• Voidable Contract

• ExecutoryContract

• Executed Contract

What does 'consensus ad idem' refer to in contract law?

• Free consent

• Written documentation

• Legal capacity

• Mutual agreement

Which of the following is NOT a reason for discharge of a contract?

• Performance

• Change of mind

• Breach of contract

• Mutual consent

What is the term for a proposal that has been accepted?

• Agreement

• Promise

• Contract

• Offer

What is 'consideration' in the context of a contract?

• The legal capacity of parties

• The written form of the contract

• Something of value exchanged

• The mutual agreement of terms

Which of the following is a remedy for breach of contract?

• Right to change the contract

• Right to cancel the contract

• Right to sue for damages

• Right to ignore the contract