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Test: Consideration- 1 - CA Foundation MCQ


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30 Questions MCQ Test Business Laws for CA Foundation - Test: Consideration- 1

Test: Consideration- 1 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation. The Test: Consideration- 1 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Consideration- 1 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Consideration- 1 below.
Solutions of Test: Consideration- 1 questions in English are available as part of our Business Laws for CA Foundation for CA Foundation & Test: Consideration- 1 solutions in Hindi for Business Laws for CA Foundation course. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free. Attempt Test: Consideration- 1 | 30 questions in 30 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study Business Laws for CA Foundation for CA Foundation Exam | Download free PDF with solutions
Test: Consideration- 1 - Question 1

 In case of completed gifts, consideration is 

Test: Consideration- 1 - Question 2

A who was badly in need of money offered to sell his piano worth Rs. 8,500 to B for Rs. 5,000. B refused to buy. A gradually lowered his price until Rs. 2500 was reached, which B accepted. Before the piano was delivered A received an offer of a larger sum from X and he refused to carry out the contract with B claiming that the consideration was inadequate. Is a liable to pay damages to B for failure to carry out his part of contract?

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Test: Consideration- 1 - Question 3

Contract created to restrict the rights related to legal proceedings is

Test: Consideration- 1 - Question 4

Which of the following statement is true :

Test: Consideration- 1 - Question 5

The inadequacy of consideration will be taken into account by a court of law: 

Test: Consideration- 1 - Question 6

Which of the following is Void Contract?

Test: Consideration- 1 - Question 7

Consideration in India may be: 

Test: Consideration- 1 - Question 8

 Which of the following statements is true?

Test: Consideration- 1 - Question 9

Which One of the following statements is true.

Test: Consideration- 1 - Question 10

Agreement without consideration is valid when made ?

Test: Consideration- 1 - Question 11

An agreement without consideration is case of natural love and affection is:

Test: Consideration- 1 - Question 12

 Payment of time-barred debt is: 

Test: Consideration- 1 - Question 13

A is indebted to B. He sells a trolley to C. C promises to pay all debts of A to B. if C fails to pay, B has no right to sue C because : 

Test: Consideration- 1 - Question 14

Which of the following is not an exception to the rule, No consideration, No contract: 

Test: Consideration- 1 - Question 15

 Past consideration is valid in. 

Test: Consideration- 1 - Question 16

 Stanger to a _________can sue.

Test: Consideration- 1 - Question 17

A consideration is: 

Test: Consideration- 1 - Question 18

Which of the following is not the essentials of a valid consideration?

Test: Consideration- 1 - Question 19

Promise to pay a time barred debt given in writing is______

Test: Consideration- 1 - Question 20

 In a contract, consideration must be _________ and of some value. 

Test: Consideration- 1 - Question 21

 There can be a stranger to a 

Test: Consideration- 1 - Question 22

Contracts of love and affection are valid under which head. 

Test: Consideration- 1 - Question 23

Past consideration is valid in:

Test: Consideration- 1 - Question 24

Which of the following statements is true?

Test: Consideration- 1 - Question 25

Consideration is defined in the Indian Contract Act, 1872 in: 

Test: Consideration- 1 - Question 26

Consideration in India is: 

Test: Consideration- 1 - Question 27

Rohan promises to make a gift of Rs. 10,000 towards the repairs of a temple. The trustees of the temple on the faith of his promise incurs liabilities. Rohan does not pay. Can the trustees recover the promised amount from Rohan ?

Test: Consideration- 1 - Question 28

Privity of Contract is subject to the exception:

Test: Consideration- 1 - Question 29

Which of the following is not an exception to the rule “No Consideration, No Contract”?

Test: Consideration- 1 - Question 30

 Consideration must move at the desire of: 

Detailed Solution for Test: Consideration- 1 - Question 30

Consideration must move at the desire of the promisor
It is a fundamental rule that the action or forbearance must be done at the desire of promisor. If it is not done at the desire of the promisor or done at the desire of a third party, then it will not be a valid consideration. Similarly, acts done voluntarily or services rendered without any request cannot constitute a valid consideration.

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