Indian Contract Act 1872 MCQ for CPD-1 exam, Q 76 to 100, Financial Management MCQ

 Indian Contract Act 1872 MCQ for CPD-1 exam, Q 76 to 100, Financial Management MCQ

76. A contingent contract

(a) is void

(b) never becomes void

(c) becomes void when the event becomes impossible

(d) is voidable.

Answer Sec C(sec 32)

 

77. A contingent agreement based on an impossible event under section 36

(a) is void

(b) is void till the impossibility is known

(c) becomes void on the knowledge of impossibility

(d) all the above.

Answer A(Sec 36)

 

78. What is true of misrepresentation

(a) it is the same thing as fraud

(b) it renders the contract voidable

(c) it may be due to innocence

(d) both (b) & (c).

Answer A(Sec 18)

 

79. Two persons have the capacity to contract under section 11

(a) if both are major

(b) if both are not of unsound mind

(c) if none is declared unqualified to contract

(d) all are correct.

Answer D(Sec 11)

 

80. A contract with minor is

(a) voidable at the instance of the minor

(b) voidable at the instance of other party

(c) void

(d) valid.

Answer C(Sec 11)

 

81. An agreement to do an act impossible in itself under section 56 is

(a) void

(b) valid

(c) voidable

(d) unenforceable.

Answer A(Sec 56)

 

82. A contingent contract based on the specified uncertain event happening within a fixed time under section 35

(a) remains valid even if the event does not happen within that fixed time

(b) becomes void at the expiration of the time fixed

(c) becomes void if the happening of that event becomes impossible before the expiry of time fixed

(d) both (b) & (c).

Answer B(Sec 35)

 

83. A contingent contract based on the specified uncertain event not happening within a fixed time under section 35

(a) can be enforced if the event does not happen within the time fixed

(b) can be enforced if before the expiry of time fixed, it becomes certain that such an event shall not happen

(c) cannot be enforced at all, being void

(d) both (a) & (b).

Answer D(Sec 35)

 

84. A promisor can perform

(a) the promise himself

(b) the promise through his representa-tive competent to perform

(c) the promise through his representa-tive irrespective of the competency of that representative

(d) both (a) & (b).

Answer D(Sec 40)

 

85. A promisee can accept the performance

 

 (a) from the promisor himself

(b) from the representative of the promisor competent to perform

(c) from a third person

(d) all the above.

Answer D(Sec 40 & 41)

 

86. In case of joint promise, generally the performance must be by

(a) all the promisors jointly

(b) any one of them individually

(c) one not authorised to perform

(d) none of the above.

Answer A(Sec 43)

 

87. In cases of joint promise generally a promisee can compel

(a) all the joint promisors to perform

(b) any one of them to perform

(c) some of them to perform

(d) all the above.

Answer B(Sec 43)

 

88. Generally, the joint promisors can

(a) compel each other to contribute equally

(b) not to compel each other to contribute equally

(c) cannot compel each other to contribute

(d) none of the above.

Answer A(Sec 43 para 2)

 

89. Where one of the joint promisors makes a default in contribution of performance

(a) the other joint promisors have no right against the defaulter

(b) have to bear the loss in equal share

(c) not supposed to bear the loss

(d) the contract becomes void to that extent.

Answer B(Sec 43 para 3)

 

90. In case of default by joint promisors the promisee

(a) can sue any one of them for the entire promise

(b) can sue any one of them to the extent of his share in the joint promise

(c) both (a) & (b)

(d) cannot sue any single promisee.

Answer A(Sec 43)

 

91. In case of death of a joint promisor(s) the promisee

(a) can enforce the contract against the survivor(s) of the said joint promisor(s) alongwith the joint promisors who are alive

(b) cannot enforce the contract against the survivor(s) of the said joint promisor(s)

(c) both (a) & (b)

(d) cannot enforce the contract against any of them.

Answer A(Sec 45)

 

92. In a contract not specifying the time for performance, the promisor can perform the contract

(a) within any time howsoever long it may be

(b) within the shortest time

(c) within a reasonable time

(d) none of the above.

Answer D(Sec 50)

 

93. What is a reasonable time for performance of a contract

(a) is a question of fact

(b) is a question of law

(c) is a mixed question of fact & law

(d) is a question of prudence.

Answer A(Sec46 (Explanation))

 

94. A contract not specifying the place of performance

(a) performed at any place to the knowledge of the promisee

(b) the promisor has to apply to the promisee for appointment of a place of performance & perform the promise at that place

(c) the promisor need not seek any instructions from the promisee as to the place of performance

(d) the promisor can perform the promise at a place other than the place appointed by the promisee.

Answer B(Sec 49)

 

95. In case the promisee prescribes the manner and time of performance of promise

(a) the performance must be in the manner and at the time prescribed

(b) the performance can be in a different manner but at the time prescribed

(c) the performance can be in the manner prescribed but at a time beyond the time prescribed

(d) the performance need not be in the manner and time prescribed.

Answer A(Sec 50)

 

96. If the time of performance of the contract is the essence of the contract and the promisor fails to perform the contract by the specified time

(a) the contract becomes void

(b) the contract remains valid

(c) the contract becomes voidable at the instance of the promisee

(d) the contract becomes unenforceable.

Answer A(Sec 50)

 

97. If the time is not the essence of the contract the failure to perform the contract by the specified time makes the contract

(a) void

(b) voidable at the instance of the promisee

(c) remains valid but the promisee can claim compensation for the loss suffered by him by such failure

(d) remains valid & can be performed at any subsequent time without being liable for the loss suffered by the promisee.

Answer D(Sec 47)

 

98. In contract for sale of immovable property the presumption is that the time is

(a) the essence of the contract

(b) not the essence of the contract

(c) the essence of the contract but failure does not make the contract voidable

(d) not the essence of the contract but makes the contract voidable at the instance of the other party.

Answer A(?)

 

99. Reciprocal promises provide for doing certain things which are legal & certain others which are illegal, under section 57

(a) the entire set of promises is void

(b) the first set is voidable, but the second set is void

(c) the first set is valid but the second set is void

(d) the entire set of promises is valid.

Answer D(Sec 57)

 

100. A contract, performance of which becomes impossible or unlawful becomes

(a) void when the performance becomes unlawful or impossible

(b) void

(c) voidable when the performance becomes impossible.

(d) neither becomes void nor voidable

Answer B(Sec 23)