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CA Foundation Exam  >  CA Foundation Tests  >  Business Laws for CA Foundation  >  Test: Nature Of Contracts- 4 - CA Foundation MCQ

Test: Nature Of Contracts- 4 - CA Foundation MCQ


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15 Questions MCQ Test Business Laws for CA Foundation - Test: Nature Of Contracts- 4

Test: Nature Of Contracts- 4 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation. The Test: Nature Of Contracts- 4 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Nature Of Contracts- 4 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Nature Of Contracts- 4 below.
Solutions of Test: Nature Of Contracts- 4 questions in English are available as part of our Business Laws for CA Foundation for CA Foundation & Test: Nature Of Contracts- 4 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: Nature Of Contracts- 4 | 15 questions in 15 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: Nature Of Contracts- 4 - Question 1
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When offer is made to a definite person, it is known as. 

Test: Nature Of Contracts- 4 - Question 2
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M/s. Law Book Company made an offer to sell a new law book released recently only to the members of Bar Council. This offer is called: 

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Test: Nature Of Contracts- 4 - Question 3
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The essential element of a valid contract is 

Test: Nature Of Contracts- 4 - Question 4
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 A contract is an agreement:-
Detailed Solution for Test: Nature Of Contracts- 4 - Question 4
Correct Answer: 1
  • A contract must be made by parties who are competent to contract. This means both parties should have the legal capacity to enter into an agreement.
  • Contracts are enforceable by law, ensuring that the terms agreed upon are adhered to.
  • It should be entered into with free consent and consideration, meaning both parties agree voluntarily and something of value is exchanged.
Test: Nature Of Contracts- 4 - Question 5
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A offers to sell his house to B, who agrees to purchase it subject to approval by B’s solicitors. Which one of the statements in correct?
Test: Nature Of Contracts- 4 - Question 6
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A advertises to sell his old Car by advertising in a newspaper. This offer is called:
Test: Nature Of Contracts- 4 - Question 7
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B son is lost. A goes in search of B son. Meanwhile, B makes an offer to pay Rs. 1,000 to the finder of his son. A finds B son. Can A claim Rs. 1,000 from B?
Test: Nature Of Contracts- 4 - Question 8
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A match fixing contract between a player and a broker is a:
Test: Nature Of Contracts- 4 - Question 9
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A specific offer can be accepted by ______.
Test: Nature Of Contracts- 4 - Question 10
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Non-fulfillment by an offeree of a condition precedent to acceptance leads to _________:
Test: Nature Of Contracts- 4 - Question 11
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There is no binding Contract in case of -------- as one’s offer cannot be construed as acceptance
Test: Nature Of Contracts- 4 - Question 12
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A asks B a watch repairer, to repair his watch without forming any contractual relationship, still a legal relationship has arisen and it will create ________.
Test: Nature Of Contracts- 4 - Question 13
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 ______________ contracts are also caled contracts with executed consideration.
Detailed Solution for Test: Nature Of Contracts- 4 - Question 13

Completed contracts are also called contracts with executed consideration i.e. the consideration for the promise in a contract is given or executed.

Test: Nature Of Contracts- 4 - Question 14
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X invites Y for his son's wedding. Y accepts the invitation. In this case there is an agreement but no contract since
Detailed Solution for Test: Nature Of Contracts- 4 - Question 14

According to Section 10 of the Indian Contract Act, 1872, a contract to be valid must be made with an intention to create legal relationship. In the instant case, X invited Y for his son's wedding. Y accepted the invitation. Here, in this case, there is an agreement but not contract since one of the essential element of Section 10 viz. intention to create legal relationship is not present. Therefore there is no contract.

Test: Nature Of Contracts- 4 - Question 15
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When counter offer is made original offer
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