Mercantile Laws Test - 7
| Description: Mercantile Laws Test - 7 | |
| Number of Questions: 40 | |
| Created by: Sara Dalvi | |
| Tags: Mercantile Laws Test - 7 Mercantile Laws |
Cross offers means
Which of the following agreements is void?
Which of the following is a requirement for misrepresentation to exist?
Which of the following statements is true?
Which of the following offers constitute a valid offer?
Contract caused by which of the following is void?
Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances?
What is the legal terminology for the doing or not doing of something which the promisor desires to be done or not done?
Goods must be the same as wanted by the seller. This is
Valid contract
The term goods for the purpose of Sale of Goods Act, includes
Which of the following is a not document of title to goods?
Goods dependant upon certain events which may or may not happen are
Partnership
In which of the following cases, the unpaid seller loses his right of lien?
X and Y agree to work together as carpenters but X shall receive all profit and shall pay wages to Y. The relation between X and Y is that of
In case of sale of standing trees, the property passes to the buyer when trees are
Which of the following is an essential feature of partnership?
Implied contract, even if not in writing or express words, is perfectly ________ if other conditions are satisfied.
Which of the following acts are not included in the implied authority of a partner?
R, an optical surgeon, employs S as the assistant for a term of three years and S agrees not to practice as a surgeon during this period. This contract is
________ consideration is no consideration in England.
A agrees to pay Rs. 500 to B if it rains, and B promises to pay a like amount to A if it does not rain. This agreement is called
When the offeree offers to qualified acceptance of the offer subject to modifications and variations he is said to have made a
When after the formation of a valid contract, an event happens which makes the performance of contract impossible, and then the contract becomes
The basis of quasi contractual relations is the
Where the performance of a promise by one party depends on the prior performance of promise by the other party, such reciprocal promises fall under the category of
A agrees to pay Rs. 1000 to B if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes
Where an agreement consists of two parts once legal and the other illegal, and the legal part is separable from the illegal one, such legal part is
The Sale of Goods Act, 1930 came into force on
Contract of sale is
Where in an auction sale, the seller appoints more than one bidder, the sale is
Where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is
The property in the goods means the
Untill goods are ascertained there is merely
The rights of an agent against the principal are the following
Discharge by mutual agreement may involve
A enquires from B, “Will you purchase my cow for $ 100?” B replies, “I shall purchase your cow for $100 provided you purchase my parrot for $120.” In this case
A sold 1000 tins of oil to B without appropriating any particular oil to the contract. B sold 600 tins out it to C and gave delivery order addressed to A. C lodged the delivery order with A requesting him to “await” his orders. Meanwhile, B became insolvent and thus A became the unpaid seller.
X fraudulently induced Y to enter into partnership with him and Y pays a premium of Rs. 5,000/- to A. Within three months the firm incurs liabilities to the extent of Rs. 10,000/-. On discovering the fraud, Y files a suit for the rescission of the contract creating partnership and contract is rescinded. The creditors of the firm also levy attachment on Y who pays Rs. 3,000/- to them as well. Which of the following is correct?