11th Standard EM - Commerce - Elements of Contract

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Question - 1

An Agreement enforceable by law is a _______.

  • A Enforceable acceptance
  • B Accepted offer
  • C Approved promise
  • D Contract

Question - 2

Every promise and every set of promises, forming the consideration for each other, is an _______.

  • A Agreement
  • B Contract
  • C Offer
  • D Acceptance

Question - 3

Void agreement signifies ______________

  • A Agreement illegal in nature
  • B Agreement not enforceable by law
  • C Agreement violating legal procedure
  • D Agreement against public policy

Question - 4

Acceptance to be valid must  ________.

  • A Be absolute
  • B Be unqualified
  • C Both be absolute and unqualified
  • D Be conditional

Question - 5

A contract with or by a minor is a _________.

  • A Valid contract
  • B Void contract
  • C Voidable contract
  • D Voidable at the option of either party

Question - 6

The law relating to contracts is to be found in the Indian contact act_____.

  • A 1962
  • B 1972
  • C 1982
  • D 1992

Question - 7

'A' promises to obtain for 'B' an employment in the public service and 'B' promises to pay' Rs.5,00,000 to A. The agreement is_______.

  • A Legal
  • B Illegal
  • C In good faith
  • D Fraudulent

Question - 8

Incapacity to contract may arise from________.

  • A Minority
  • B Unsound mind
  • C Disqualified from any contract
  • D All the above

Question - 9

Which one of the following is not correct ?

  • A Agreement = Offer + Acceptance
  • B Agreement = Proposal + Acceptance
  • C Agreement = Contract + Acceptance
  • D Contract = Agreement + Enforceability by law

Question - 10

Which of the following law is base for the development of Indian contract Act 1872 ?

  • A English Common Law
  • B America Common Law
  • C Austrilia Common Law
  • D Europe Common Law