Mercantile Laws Test - 8
Description: Mercantile Laws Test - 8 | |
Number of Questions: 40 | |
Created by: Sara Dalvi | |
Tags: Mercantile Laws Test - 8 Mercantile Laws |
The following conditions must exist so that a promise to pay for the past voluntary services is binding.
In case of a firm carrying on the business of banking
A collateral event is an event
Champerty means
A person who has been induced to enter into a contract by misrepresentation has the following remedies
The rights of a principal are the following:
A person to whom money has been paid or anything delivered by mistake,
Following conditions are implied in a contract of sale of goods unless the circumstances of the contract show a different intention:
A promises to paint a picture for B at a certain price. Which of the following is not correct?
An agreement of partnership may be
Which one of the offers is a valid offer?
Dissolution of a firm may take place
In case of a sale, the buyer
The following persons can enter into contracts as per the provisions of The Indian Contract Act, 1872:
Which of the following is correct?
Remedies available for breach of contract are
A person to whom money has been paid or anything delivered under coercion,
A sale implies an agreement
If the terms of a contract are expressly agreed upon (whether by words spoken or written) at the time of formation of the contract, the contract is said to be ________.
Which of the following case laws relate to the definition of contract of sale?
According to Section 14 of The Indian Contract Act, 1872, consent is said to be free when it is not caused by
In India the age of majority is regulated by
Agreement entered into by a minor is
Partner by holding out
is governed by Section of _______ The Indian Partnership Act, 1932.
Where both parties to a contract of sale are under a mistake as to a matter of fact, essential to such contract, then the contract is
Sale is an
If the offeree offers to qualified acceptance of the offer subject to modifications and variations in the terms of original offer, he is said to have made a
Interest on advances by a partner to his firm may be payable
The law dealing with the partnerships is contained in
Seller
means a person who
Conditions and warranties
Delivery of a thing in token of a transfer of something else is known as
A is not a minor. A agrees to B for Rs. 1,00,000/- that A will never marry. Promise of A is
The rule of caveat emptor does not apply in the case of
________ is/are the exception(s) to the general rule, no consideration no contract.
An offer should be distinguished from
________ is/are the 'document of title to goods'.
A agrees to pay B Rs. 500/- if a particular ship does not return to the port. The ship was sunk. The contract
D believes blue colour to be black colour, for any reason whatsoever. He has a garment shop. He sells one blue colour shirt to M, representing it to be black colour. M knows nothing about colours. M believes D and accepts the blue colour to be black colour. Later on M`s mother explains M that the colour of the shirt is actually blue and not black. It is a clear case of
A and B are the only two partners in a firm. B was murdered by C, who wanted to become a partner of the firm, but B has raised objections to it. A now wants to take D as a partner in the said firm. D is father of C. In light of the situation answer, which of the following is correct?