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Page 1 Question Time MCQ’s Page 2 Question Time MCQ’s Q1 Good must be correspond with sample. This is: (a) Condition as to description (b) Condition as to sample (c) Condition as to wholesomeness (d) Condition as to title Answer: b Page 3 Question Time MCQ’s Q1 Good must be correspond with sample. This is: (a) Condition as to description (b) Condition as to sample (c) Condition as to wholesomeness (d) Condition as to title Answer: b Q4 A stipulation which is collateral to the main purpose of the contract, and if proves false, gives the buyer only a right to claim damages, is known as a) conditions. b) guarantee. c) warranty. d) none of these. Answer: c Page 4 Question Time MCQ’s Q1 Good must be correspond with sample. This is: (a) Condition as to description (b) Condition as to sample (c) Condition as to wholesomeness (d) Condition as to title Answer: b Q4 A stipulation which is collateral to the main purpose of the contract, and if proves false, gives the buyer only a right to claim damages, is known as a) conditions. b) guarantee. c) warranty. d) none of these. Answer: c Q5 Which of the following is not an implied condition in a contract of sale? (a) condition as to title. (b) condition as to description. (c) condition as to free from encumbrance. (d) condition as to sample. Answer: c Page 5 Question Time MCQ’s Q1 Good must be correspond with sample. This is: (a) Condition as to description (b) Condition as to sample (c) Condition as to wholesomeness (d) Condition as to title Answer: b Q4 A stipulation which is collateral to the main purpose of the contract, and if proves false, gives the buyer only a right to claim damages, is known as a) conditions. b) guarantee. c) warranty. d) none of these. Answer: c Q5 Which of the following is not an implied condition in a contract of sale? (a) condition as to title. (b) condition as to description. (c) condition as to free from encumbrance. (d) condition as to sample. Answer: c Q6 The conditions and warranties may be in the form of (a) express. (b) implied. (c) either (a) or (b). (d) none of the above. Answer: cRead More
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FAQs on MCQ - Conditions and Warranties, Sale of Goods Act - 1930 - Business Laws for CA Foundation
| 1. What are the conditions and warranties as per the Sale of Goods Act - 1930? |  |
Ans. The Sale of Goods Act - 1930 defines conditions as the major terms of the contract that are essential to the main purpose of the contract. These terms form the basis of the contract, and if they are breached, the buyer has the right to terminate the contract and claim damages. On the other hand, warranties are the minor terms of the contract that are not essential to the main purpose of the contract. If these terms are breached, the buyer can only claim damages and cannot terminate the contract.
| 2. What is the difference between a condition and a warranty? | |
Ans. The main difference between a condition and a warranty is that a condition is an important term of the contract that forms the basis of the contract, while a warranty is a minor term of the contract that is not essential to the main purpose of the contract. If a condition is breached, the buyer can terminate the contract and claim damages, while if a warranty is breached, the buyer can only claim damages and cannot terminate the contract.
| 3. Can a buyer terminate the contract if a warranty is breached? | |
Ans. No, a buyer cannot terminate the contract if a warranty is breached. A warranty is a minor term of the contract that is not essential to the main purpose of the contract. If a warranty is breached, the buyer can only claim damages and cannot terminate the contract.
| 4. What are the remedies available to the buyer if a condition is breached? | |
Ans. If a condition is breached, the buyer has the right to terminate the contract and claim damages. The remedies available to the buyer include:
1. Termination of the contract
2. Claim for damages
3. Refusal to accept the goods
| 5. What is the significance of conditions and warranties in the Sale of Goods Act - 1930? | |
Ans. The conditions and warranties defined in the Sale of Goods Act - 1930 provide a legal framework for the sale of goods and protect the interests of both buyers and sellers. The act ensures that the terms of the contract are clear and unambiguous, and it provides remedies to the parties in case of breach of contract. The act also helps to resolve disputes between buyers and sellers and promotes fair trade practices.
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