Which one of the following is a legal requirement regarding consideration:

Consideration should move at the desire of the promisor.
Consideration may move from promisee or any other person.
Consideration may be past, present or future.
All of the above

A sold some land to B. At the time of sale both the parties believed to be in good faith that the area of the land sold was 10 hectares. It however, turned out that the area was 7 hectares only. How is the contract of sale affected?

The agreement is void.
The agreement is illegal.
The agreement is impossible.
All of the above

Partnership is created by:

Status
Contract
Delegation
Association

Which of the following are the characteristics of a contingent contract:

The performance of a contingent contract depends upon the happening or non-happening of a certain event in future.
The event must be uncertain.
The event must be collateral to the main contract.
All of the above

In case of a hire – purchase the hirer

Can pass a goods title to a bonafide purchaser.
Cannot pass a goods title to a bonafide purchaser.
Can choose whether to pass or not to pass the goods title to a bonafide purchaser.
All of the above

A tells his wife that he would commit suicide, if she did not transfer her personal assets to him. She does so under his threat.

The wife can avoid the contract.
The wife cannot avoid the contract.
The husband can enforce the contract.
Both (b) & (c).

The action of goods being physically delivered to the buyer is known as:

Actual Delivery.
Constructive Delivery.
Symbolic Delivery.
All of the above

Necessary condition for existing goods is

They should be in existence at the time of the contract of sale.
They should be owned or possessed by the seller.
Both of the above.
None of the above.

As per the Indian Contract Act, 1872 every person is competent to contract provided he:

Is of the age of majority according to the law to which he is subject.
Is of sound mind.
Is not disqualified from contracting by any law to which he is subject.
All of the above.

Which of the following is correct :

A minor can be admitted as a partner provided the partnership deed is signed by the guardian of the minor on behalf of and in the best interest of such minor.
A minor can enter into a contract of partnership provided it is a ‘necessity’ and not a ‘luxury’.
A minor cannot be admitted as a partner unless all the partners agree to it.
A minor can be admitted to the benefits of partnership.

UnAttempted

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Attempted

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Correct

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Wrong

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Complete