Indian Contract Act 1872 MCQ
What is a Contract according to Indian Contract Act 1872 ?
Indian Contract Act frames and validates the contracts or agreements between various parties. Contract Act is one of the central laws that regulate and oversee all the business wherever there is a case of a deal or an agreement. The following section will tell us what a contract is.
We will see how the Indian Contract Act, 1872 defines a contract. We will also define the terms as per the Act and see what that means. In these topics, we will decipher all the vivid aspects of the Contract Act. Let us begin by understanding the concept of a contract.
1.An agreement consists of reciprocal promises between at least
(a) four parties.
(b) six parties.
(c) three parties.
(d) two parties.
Answer – d
2. Every promise and every set of promise forming the consideration for each other is a/an
(a) contract.
(b) agreement.
(c) offer.
(d) acceptance.
Answer – b
3. Contract is defined as an agreement enforceable by law, vide Section … of the Indian Contract Act.
(a) Section 2(e)
(b) Section 2(f)
(c) Section 2(h)
(d) Section 2(i)
Answer – c
4. In agreements of a purely domestic nature, the intention of the parties to create legal relationship is
(a) to be proved to the satisfaction of the court.
(b) presumed to exist.
(c) required to the extent of consideration.
(d) not relevant at all.
Answer -a
5. A makes a contract with B to beat his business competitor. This is an example of
(a) valid contract.
(b) illegal agreement.
(c) voidable contract.
(d) unenforceable contract
Answer – b
6. Which of the following legal statement is incorrect?
(a) An agreement enforceable by law is a contract [Section 2]
(b) All agreements are contracts [Section 10]
(c) A proposal when accepted becomes a promise [Section 2]
(d) Every promise and every set of promise forming the consideration for each other is an agreement [Section 2(e)]
Answer – a
7. Agreement the meaning of which is uncertain is
(a) Void
(b) Valid
(c) Voidable
(d) Illegal Answer:
Answer – a
8. …………….. is a one-sided contract in which only one party has to perform his promise or obligation.
(a) Void contract
(b) Illegal agreement
(c) Unilateral contract
(d) Bilateral contract
Answer – c
9. All Contract is a/an ……………..
(a) Offer
(b) Agreement
(c) Acceptance
(d) Transaction
Answer – b
10. A/an …………… is every Promise and every set of promises , forming consideration for each other
(a) Offer
(b) Agreement
(c) Acceptance
(d) Transaction
Answer – b
also read :- Industrial Policy
