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Test: Other Essential Elements Of A Valid Contract- 3


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30 Questions MCQ Test Business Laws for CA Foundation | Test: Other Essential Elements Of A Valid Contract- 3

Test: Other Essential Elements Of A Valid Contract- 3 for CA Foundation 2023 is part of Business Laws for CA Foundation preparation. The Test: Other Essential Elements Of A Valid Contract- 3 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Other Essential Elements Of A Valid Contract- 3 MCQs are made for CA Foundation 2023 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Other Essential Elements Of A Valid Contract- 3 below.
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Test: Other Essential Elements Of A Valid Contract- 3 - Question 1

Which contracts are not Wagering Contract ?

Test: Other Essential Elements Of A Valid Contract- 3 - Question 2

 Mistake as to a law not in force in India makes the contract ________.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 3

Which of the following statement is not correct ?
(i) A threat to commit suicide does not amount to coercion 
(ii) Undue influence involves use of physical pressure 
(iii) Ignorance of law is no excuse 
(iv) Silence always amounts to fraud 

Detailed Solution for Test: Other Essential Elements Of A Valid Contract- 3 - Question 3

Mistake of law: It is based on the principle of 'Ignorantia Juris Non Excusat ' which means ignorance of law is no excuse if the contract is of land (India). A party is not entitled to any relief on the plea that an act has been done in ignorance of law.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 4

An agreement in restraint of legal proceedings is void. It does not cover an agreement which : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 5

A tells B that he will file a case against him for theft. B tells to A that he will give the half of the market price of the theft. This offer is: 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 6

Where the pre – assumption of “ Undue Influence” does not exists : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 7

 In a contract both the parties believe that the subject matter of the contract is in existence but which is infect not in existence. Agreement shall be:

Test: Other Essential Elements Of A Valid Contract- 3 - Question 8

N threatens L’s wife that their son M would be abducted if L did not lease but their land to him (N). This is a case of : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 9

A contract with resident of an enemy country is : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 10

Contract with a person of unsound mind is: 

Detailed Solution for Test: Other Essential Elements Of A Valid Contract- 3 - Question 10

According to Section 12 of the Indian Contract Act, 1872, for the purpose of entering into a contract, a person is said to be of sound mind if he is capable of understanding the contract and being able to assess its effects upon his interests. A contract made by a person of an unsound mind is void.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 11

A contract made by mistake about the Indian Law, is: 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 12

Silence does not amount to fraud unless silence is : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 13

 If mistake is unilateral then the contract is: 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 14

The leading case, on the point that minor’s agreement is void ab initio, is : 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 15

 In which of the following agreements, restraint of trade is valid?

Test: Other Essential Elements Of A Valid Contract- 3 - Question 16

A master ask the servant to sell the goods to him at the price less than market price. The Contract can be avoided by the servant on the ground of___________.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 17

In Coercion _________pressure is applied. 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 18

A, B and C are partners in a firm. When C retires, A and B restrict C not to do the same business for 3 years. The contract is: 

Detailed Solution for Test: Other Essential Elements Of A Valid Contract- 3 - Question 18

 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 19

According to Indian Contract Act, 1872 every person is competent to contract provided he:

Test: Other Essential Elements Of A Valid Contract- 3 - Question 20

Agreement the meaning of which is uncertain is ______

Test: Other Essential Elements Of A Valid Contract- 3 - Question 21

A boy of 21 years for whose property a guardian has been appointed enters into a contract with B in respect of that property. The contract is:

Test: Other Essential Elements Of A Valid Contract- 3 - Question 22

An unsound person ‘B’ is liable for necessaries provided to him to the extent of:

Test: Other Essential Elements Of A Valid Contract- 3 - Question 23

 Smith in order to enter into a contract with Johnson, obtains his (Johnson’s) consent by way of fraud. The contract is: 

Test: Other Essential Elements Of A Valid Contract- 3 - Question 24

When parties enters into a contract under a mutual mistake of fact the contract is_________ :

Test: Other Essential Elements Of A Valid Contract- 3 - Question 25

A Contract which is created without the consent of the party is ______.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 26

A agrees to pay 10 lacs to B if B procures an employment for A in Income Tax Department. 

Detailed Solution for Test: Other Essential Elements Of A Valid Contract- 3 - Question 26

Section 23 of the Indian Contract Act, 1872 states that a consideration for a contract is not lawful if it falls in any of the following categories:-

(1) the consideration is forbidden by law.

(2) the consideration is of a nature such that if allowed, would defeat the provision of any law.

(3) fraudulent

(4) implies any injury to person or property of another

(5) the consideration is regarded by Court as immoral or opposed to public policy.

Obtaining employment in return for money can be regarded as forbidden by law or opposed to public policy and has also been treated as unlawful consideration under illustration (f) to the provision. Section 10 of the Act makes it compulsory for an agreement to have a lawful consideration to be valid and enforceable by law.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 27

A sells his dog through auction sale. B was the highest bidder. B purchases the dog, the dog was of unsound mind but A does not disclose this fact to B. The act of A is _____?

Test: Other Essential Elements Of A Valid Contract- 3 - Question 28

 Which of the following are in fiduciary relationship :-

Test: Other Essential Elements Of A Valid Contract- 3 - Question 29

A , a surgeon employs ‘B’ as an assistant for a term of three years and B agrees not to practice as surgeon during those three years. The agreement is _______.

Test: Other Essential Elements Of A Valid Contract- 3 - Question 30

 When parties do not intend to perform the contract they made, then it amounts to : 

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