Business Laws MCQs

A. Valid but not enforceable

B. Enforceable at the portion of both parties

C. Enforceable at the portion of one party

D. Not enforceable in a Court of Law

A. Promise

B. Contract

C. Obligation

D. Lawful promise

A. Indian Contract Act 1862

B. Indian Contract Act 1962

C. Indian Contract Act 1872

D. Indian Contract Act 1972

A. Promise

B. Contract

C. Offer

D. Acceptance

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

A. Revocation

B. Counter Offer

C. Rejection of offer by offeree

D. All of these

A. Valid Contract

B. Void Contract

C. Voidable Contract

D. None of these

A. Must be communicated

B. Must be absolute and unconditional

C. Must accepted by a person having authority to accept

D. May be presumed from silence of offeree

A. Void

B. Voidable

C. Valid

D. Illegal

A. Intend to create legal relations

B. Have certain and unambiguous terms

C. Contain a term the non‐compliance of which would amount to acceptance

D. Be communicated to the person to whom it is made