Legal Aspects of Business Quiz Set 3

1. In a delayed PWD work where the time is the essence of the contract, the PWD authority does not have the option of?

Correct! Wrong!

2. If it was not the intention of the parties that time should be of the essence of the contract, the effect of delay would be?

Correct! Wrong!

3. A contract is made for the import of goods and the import is thereafter forbidden by a government order. It is?

Correct! Wrong!

4. X owes Rs. 15,000/- to Y and Y accepts Rs. 12,000/- in full and final settlement of the outstanding due. This is called?

Correct! Wrong!

5. The doctrine of frustration come in the play?

Correct! Wrong!

6. Mr. ‘X’ contracted to sell a specified quantity of potatoes to be grown, but failed to supply them as the crop was destroyed by a disease, identify the specific ground of frustration?

Correct! Wrong!

7. The effect of frustration of a contract is?

Correct! Wrong!

8. The parties to the contract agree to substitute the existing contract with new contract. This is?

Correct! Wrong!

9. After Novation?

Correct! Wrong!

10. A breach of contract occurs when a party to a contract?

Correct! Wrong!

11. A, a builder, contracts to erect and finish a house by the first of January, in order that B may give possession of it at that time to C, to whom B has contracted to let it. A builds the house so badly necessitating B to rebuild it. A must make compensation to B?

Correct! Wrong!

12. A sum fixed representing a genuine pre-estimate of the probable damage that is likely to result from the breach is?

Correct! Wrong!

13. B holds land in Tanjore, on a lease granted by A, the landlord. The revenue payable by ‘A’ to Government being in arrear, his land is advertised for sale by Government B pays to the Government the sum due from A?

Correct! Wrong!

14. Find out the incorrect statement special contracts with respect to a contract of indemnity?

Correct! Wrong!

15. Which among the following is incorrect with respect to a contract of guarantee?

Correct! Wrong!

16. An agreement to remain unmarried is?

Correct! Wrong!

17. Which among the following is a correct statement?

Correct! Wrong!

18. Which among the following is incorrect?

Correct! Wrong!

19. Finder of lost goods should _________?

Correct! Wrong!

20. Which among the following is not a bailment?

Correct! Wrong!

Legal Aspects of Business Quiz Set 3

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