A. Does not happen within fixed time
B. Becomes impossible before the expiry of fixed time
C. Happens within the fixed time
D. Both (a) and (b)
✅ The correct answer is option D.
Business Laws
72. A and B both believe that a particular kind of rice is being sold in the market@Rs.3000 per quintel and A sells rice of that kind to B @3000/quintel. But in fact, the market price was Rs.4000, the contract is
A. Valid
B. Void
C. Voidable
D. Illegal
✅ The correct answer is option A.
73. Can a person who is usually of unsound, but occasionally of sound mind, make a contract?
A. Yes, he can always make a contract
B. Yes, but only when he is sound mind
C. No, he cannot make contract
D. Can’t be determined
✅ The correct answer is option B.
74. What is legal terminology for the doing or not doing of something which the promisor desires to be done or not done?
A. Desires
B. Wishes
C. Considerations
D. Promise
✅ The correct answer is option C.
75. When the offeree offers to qualified acceptance of the offer subject to modifications and variations he is said to have made a
A. Standing, open or continuing offer
B. Counter offer
C. Cross offer
D. Special offer
✅ The correct answer is option B.
76. An agreement to pay money money’s worth on the happening or non happening of a specified uncertain event is a
A. Wagering agreement
B. Contingent contract
C. Quasi contract
D. Uncertain agreement
✅ The correct answer is option A.
77. A agrees to sell his car to B at a price which B may be able to pay. This agreement is
A. Void
B. Valid
C. Voidable
D. Contingent
✅ The correct answer is option A.
78. An agreement in restraint of legal proceedings is void. It does not cover an agreement which
A. Restrict absolutely the parties from enforcing their legal rights.
B. Cuts short the period of limitation
C. Discharges a party from liability or extinguishes the rights of a party
D. Provides for a reference to arbitration instead of court of law
✅ The correct answer is option D.
79. An agreement, which prevents a person from carrying lawful business is
A. Valid
B. Void
C. Voidable
D. Contingent
✅ The correct answer is option B.
80. An agreement in restraint of marriage is valid incase of the following persons
A. Minors
B. Educated
C. Married
D. None of these
✅ The correct answer is option A.