A. Promisor alone
B. Legal representatives of the Promisor
C. Agent of the Promisor
D. All of these
✅ The correct answer is option D.
Business Laws
132. On the valid performance of the contractual obligations by the parties, the contract;
A. Is discharged
B. Becomes enforceable
C. Becomes void
D. None of these
✅ The correct answer is option A.
133. Which of the following statement is true?
A. Consideration must result in a benefit to both parties
B. Past consideration is no consideration in India
C. Consideration must be adequate
D. Consideration must be something which a promisor is not already bound to do
✅ The correct answer is option D.
134. Consent is not said to be free when it is caused by
A. Coercion
B. Undue influence
C. Fraud
D. All of these
✅ The correct answer is option D.
135. Which of the following statement is not true about minor’s position in a form?
A. He cannot become a partner in an existing firm
B. He can become a partner in an existing firm
C. He can be admitted only to the benefits of any existing firm
D. He can become partner on becoming a major
✅ The correct answer is option B.
136. A minor’s liability for ‘necessaries’ supplied to him
A. Arises after he attains majority age
B. Is against only minor’s property
C. Does not arise at all
D. Arises if minor gives a promise for it
✅ The correct answer is option B.
137. Ordinarily, a minor’s agreement is
A. Void ab initio
B. Voidable
C. Valid
D. Unlawful
✅ The correct answer is option A.
138. Which of the following is not an exception to the rule – No consideration, No contract.
A. Compensation for involuntary services
B. Love & Affection
C. Contract of agencies
D. Gift
✅ The correct answer is option A.
139. Consideration in sample term means
A. Anything in return
B. Something in return
C. Everything in return
D. Nothing in return
✅ The correct answer is option B.
140. Consideration may be
A. Past
B. Present
C. Future
D. All of the above
✅ The correct answer is option D.