Business Law MCQS With Answers 91 to 100

 

Business Law

91. A person who finds good belonging to another and takes them into his custody ,is subject to the same responsibility as a

1. bailee
2. true owner
3. bailor
4. pledge.

Correct answer: (A)
bailee

92. Ordinary damages are damages which

1. arise in the usual course of things from the breach
2. which are in the contemplation of the parties at the time when the contract is made
3. are agreed in advance
4. are given by way of punishment for breach of contract.

Correct answer: (A)
arise in the usual course of things from the breach

93. An agreement to do an act impossible in itself

1. is void,
2. is voidable
3. is void ab initio
4. becomes void when impossibility is discovered

Correct answer: (A)
is void,

94. When two or more persons have made a joint promise, then unless a contrary intention appears from the contract,all such persons must fulfill the promise

1. jointly
2. severally
3. jointly and severally
4. jointly or severally

Correct answer: (A)
jointly

95. A contract of insurance is a

1. contract of guarantee
2. contingent contract
3. wagering agreement
4. unilateral agreement.

Correct answer: (B)
contingent contract

96. If there is a unilateral mistake as regards identity of a party caused by fraud of he other party , the contract is

1. void,
2. voidable,
3. valid
4. illegal

Correct answer: (B)
voidable,

97. Consideration

1. must move from the promisee,
2. may move from the promisee or any other person
3. may move from the third party
4. may move from the promisor.

Correct answer: (B)
may move from the promisee or any other person

98. A contract is

1. a legal obligation
2. an agreement plus a legal obligation
3. consensus ad idem,
4. agreement plus a legal object.

Correct answer: (B)
an agreement plus a legal obligation

99. Consideration must be something which the promisor

1. is already bound to do,
2. is not already bound to do.
3. may voluntarily do
4. must not do.

Correct answer: (B)
is not already bound to do.

100. Where consent is caused by fraud or misrepresentation , the contract is

1. voidable at the option of the aggrieved party
2. void
3. unenforceable
4. not affected in any manner

Correct answer: (A)
voidable at the option of the aggrieved party