Special Contract - Test 3

Special Contract - Test 3

University

100 Qs

quiz-placeholder

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Special Contract - Test 3

Special Contract - Test 3

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

Dhinesh m

Used 3+ times

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100 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The person in respect of whose default, the guarantee is given is called…………

Principal debtor

Principal creditor

Principal surety

Principal bailee

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of guarantee is given for series of transaction ?

General guarantee

Implied guarantee

Continuous guarantee

General and continuous guarantee

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The contract of Guarantee should be ………..

only written

only oral

written or oral

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liability of surety is……….

Secondary liability

Preliminary liability

Subsidiary liability

Co-related liability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On whose default, the promise of discharge of liability is given in contract of guarantee.

Principal debtor

Subsidiary debtor

Principal guarantor

All above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In case of co-sureties, release of one surety by the creditor:

Amounts to discharge of other sureties

Does not amount to discharge of other sureties

Amounts to discharge of the surety so released vis-a-vis co-sureties as well

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called----

Indemnity

Guarantee

Agency

Bailment

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