51. Future goods mean goods to be manufactured or produced or acquired by the seller
A. In future prescribed time
B. After making of contract
C. Before making of contract
D. None of above
✅ The correct answer is option B.
Business Laws
52. A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the minor does not return the money on his own?
A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio
B. The amount of loan can be recovered from minor’s property since it is a loan for necessaries
C. The creditor can recover his amount of loan from the minor on his (minor’s) attaining the age of majority
D. The creditor can recover his amount from the parent or guardian of the minor
✅ The correct answer is option A.
53. Wagering Agreement is a _____________ agreement
A. Valid
B. Voidable
C. Void
D. Illegal
✅ The correct answer is option C.
54. Undue influence can be presumed between
A. Guardian and Ward
B. Mother and Daughter
C. Doctor and Patient
D. All of the above
✅ The correct answer is option D.
55. Voidable contract is one
A. Which is lawful.
B. Which is invalid.
C. Which is valid if it is not avoided by the party entitled to do so.
D. Which is unlawful.
✅ The correct answer is option C.
56. Standing offer means
A. Offer allowed to remain open for acceptance over a period of times
B. Offer made to the public in general
C. When the offeree offers to qualified acceptance of the offer
D. Offer made to a definite person
✅ The correct answer is option A.
57. When offer is made to a definite person, it is known as
A. General offer
B. Cross offer
C. Counter offer
D. Special offer
✅ The correct answer is option D.
58. Which of the following statements is correct?
A. Ordinary damages are recoverable
B. Special damage is recoverable only if the parties knew about them
C. Remote or indirect damages are not recoverable
D. All of these
✅ The correct answer is option D.
59. The special damages ie, the damages which arise due to so a special or unusual circumstances
A. Are not recoverable altogether
B. Are illegal being punitive in nature
C. Cannot be claimed as a matter of right
D. Can be claimed as a matter of right
✅ The correct answer is option C.
60. A party entitled to rescind contract, losses the remedy where
A. He has ratified the contract
B. Third party has acquired right in good faith
C. Contract is not separable and recession is sought of a party only
D. All of these
✅ The correct answer is option D.