CBSE Questions for Class 12 Commerce Legal Studies Topics Of Law Quiz 2 - MCQExams.com

Legal phrases are followed by four meanings. Choose the most appropriate option:
In pari delicto
  • Where the lawyer is at fault
  • Where the judge is at fault
  • Where the petitioner is at fault
  • Where both parties to a dispute are equally at fault.
Choose the correct answer from the alternatives given.
A minor enters into a contract for the purchase of certain necessaries. In such a case
  • he is personally liable to pay.
  • his guardian is liable to pay.
  • his estate is liable to pay.
  • none of these
Choose the correct answer from the alternatives given.
The following persons can enter into contracts as per the provisions of The Indian Contract Act, 1872:
  • Alien Enemy
  • Foreign Sovereigns or accredited representatives of a foreign state
  • insolvents and convicts
  • None of the above
Choose the correct answers from the following alternatives given
Which of the following elements does not affect the free consent of the parties _________.
  • coercion
  • fraud
  • incompetency
  • undue influence
Choose the correct answers from the following alternatives given
Where the coercion is employed, the Indian Penal Code:
  • must be in force
  • need not be in force
  • none of these
  • neither (A) and (B)
Choose the correct answer from the alternatives given.
A minor whose property has passed under the superintendence of the court of wards attains majority on completion of __________.
  • 18 years
  • 19 years
  • 20 years
  • 21 years
Choose the correct answer from the alternatives given.
A contract With the minor, which is beneficial for him, is ______________.
  • void ab initio
  • voidable
  • valid
  • illegal
Choose the correct answer from the alternatives given.
In India the age of majority is regulated by _________________.
  • The Indian Majority Act, 1875
  • The Indian Minority Act, 1875
  • The Indian Contract Act, 1872
  • The Constitution of India
Choose the correct answer from the alternatives given.
Which of the following is not correct?
  • Minor can always plead minority.
  • Minor is liable for necessaries supplied to him.
  • Minor is a person who has not completed 18 years of age.
  • Minor can be a beneficiary.
Choose the correct answers from the following alternatives given
Undue influence can be exercised by:
  • a stranger to the contract
  • a week party to the contract
  • a dominating party to the contract
  • none of these
Choose the correct answer from the alternatives given.
Compromise of disputed claims ________________.
  • is a good consideration for a contract
  • is not a good consideration for a contract
  • results in a void agreement
  • is not permitted by law
Choose the correct answer from the alternatives given.
Which of the following statement is true?
  • Consideration must result in a benefit to both parties
  • Past consideration is no consideration in India
  • Consideration must be adequate
  • Consideration must be something, which a promisor is not already bound to do
Choose the correct answers from the following alternatives given
If there is a fraudulent misrepresentation as to the character of a document, the contract is:
  • void
  • voidable
  • valid
  • illegal
Choose the correct answers from the following alternatives given
If here is error in cause, the contract is:
  • void
  • voidable
  • valid
  • illegal
Choose the correct answers from the following alternatives given
The party whose consent was caused by fraud can rescind the contract:
  • where silence amounts to fraud and the aggrieved party had the means of discovering the truth with ordinary diligence
  • where silence amounts to fraud and the aggrieved party had no means of discovering the truth with ordinary diligence
  • where the party gave the consent in ignorance of fraud
  • where the party after becoming aware of the fraud takes a benefit under the contract.
Choose the correct answers from the following alternatives given
An agreement made with free consent to Which the consideration is lawful but inadequate, is
  • void
  • valid
  • voidable
  • unlawful
Choose the correct answers from the following alternatives given
If there is a fraudulent misrepresentation as to the contents of a document, the contract is:
  • void
  • voidable
  • valid
  • illegal
Choose the correct answers from the following alternatives given
When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is: 
  • misrepresentation
  • fraud
  • undue influence
  • coercion
Choose the correct answers from the following alternatives given
Where both the parties to an agreement are. under a mistake as to matter of fact essential to the agreement, the agreement is _______.
  • void
  • voidable
  • illegal
  • not affected at all
Choose the correct answers from the following alternatives given
The aggrieved party can claim damages in case of:
  • Fraud
  • Misrepresentation
  • Coercion
  • Undue influence
Choose the correct answers from the following alternatives given
Fraud exists when it is shown that a false representation has been made _____________.
  • knowingly
  • unknowingly
  • unintentionally
  • None of these
Choose the correct answers from the following alternatives given
A contract made by mistake about the Indian Law is:
  • void
  • valid
  • voidable
  • illegal
Choose the correct answer from the alternatives given.
In case of an anticipatory breach of the contract, the aggrieved party:
  • must rescind the contract and claim damages for breach of contract without waiting until the due date for performance
  • must treat the contract as operative and wait till the due date for performance and claim damages. if the promise still remains unperformed
  • both (a) and (b)
  • none of these
In addition of Consumer Forum which one of the following looks after interests of consumers?
  • High Court
  • Company Law Board
  • MRTP
  • Bureau of Industrial Costs and Prices
Choose the correct answer from the alternatives given.
Which is not in the nature of a penalty?
  • Stipulation for payment of compound interest on default at the same rate as simple interest
  • Stipulation for payment of compound interest on default at the rate higher than that of simple interest.
  • Clause providing for forfeiture of security deposit
  • None of these
Choose the correct answers from the following alternatives given
Misrepresentation means and includes:
  • The positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true.
  • Any breach of duty, which, without an intention to deceive, gains an advantage to the person committing it, or any one claiming under him, by misleading another to his prejudice or to the prejudice of any one claiming under him.
  • Causing, however innocently, a party to an agreement to make a mistake as to the substance of the thing which is the subject of the agreement.
  • All of the above.
X is a person of 16 yrs. He enters into a contract with Y by making false representation that he is a major. This contract is _______.
  • Void
  • Voidable
  • Illegal
  • None of these
Which of the following is not correct?
  • Offer has to be made for an acceptance
  • Acceptance may be given in any manner
  • Acceptance must be absolute
  • Communication of offer is an essential element
Which of the following is valid offer?
  • Advertisement in newspaper
  • Price List
  • Advertisement including reward
  • All of the above
Communication of acceptance is complete as against the Acceptor, only _______.
  • when it is put in the course of transmission
  • when it comes to the knowledge of the Proposer
  • when it is communicated to the Acceptor that the acceptance has reached the Proposer
  • all of the above
An agreement with or by a Minor is __________.
  • void ab initio
  • voidable at the option of the Minir
  • voidable at the option of the other party
  • valid
An agreement to agree in future is ______.
  • valid
  • voidable
  • illegal
  • unenforceable
______ is expression of willingness to perform a promise.
  • Invitation to Offer
  • Offer
  • Bid
  • Acceptance
Goods displayed in a shop with a price label is _______.
  • an Offer
  • an Invitation to Offer
  • a Counter-Offer
  • a Contra-Offer
A, by a letter dated 10th January 2018, offers to sell his house to B for Rs. 40 Lakhs. The letter reaches B on 17th January 2018, who posts his acceptance on 18th January 2018 which reaches A on 30th January,Here, the communication of offer is complete on:
  • 18.01.2018
  • 30.01.2018
  • 17.01.2018
  • 10,01,2018
L offered to take a house on lease for a period of 3 years at Rs. 1 Lakh p.a if the house was "put through repairs and rooms were handsomely decorated". Here, there is no offer since ________.
  • there is no legal obligation
  • there is not communication of offer
  • the terms of offer is too vague
  • the offer is conditional
If illegal part cannot be severed from legal part of a covenant, the contract is __________.
  • void in respect of illegal part only
  • void in respect of legal part only
  • altogether void
  • fully valid
In which of the following agreements, Restraint of Trade is valid?
  • Agreement with Buyer of Goodwill
  • Trade Combinations, to the extent they do not create monopoly or opposed to public policy.
  • Agreements under the Partnership Act, 1932
  • All of the above
Rasheed sends gold to Adam for Making an ornament. This is a ________.
  • contract of sale
  • contract of work and labour
  • hire purchase agreement
  • sale on approval basis
Under Indian partnership Act,In the absence of any agreement to the contrary all the partners of the firm are _________.
  • entitled to profits in capital ratio
  • entitled to profits according to seniority
  • entitled to profits equally
  • entitled to profits according to their balance in current account
A, B, C are Partners. They promised to give 60,000 to D. If C dies, who will perform Contract?
  • A, B
  • A, B, and C's Legal representatives.
  • A, B do not perform
  • None of the above.
When goodwill of the Firm is sold, the Partners agree with the Buyer, not to carry out similar business for g specified period or within the specific local limits. Such agreement in restraint to trade is ________.
  • valid
  • invalid
  • voidable
  • wholly void.
In a contract, both legal & illegal parts are there. Which of the following is correct?
  • Only legal branch is enforced
  • Contract in fully void
  • Voidable at the option of aggrieved party
  • Only illegal branch enforced
Which is true statement in voidable contract, the injured party?
  • is entitled to recover compensation.
  • Has a right to sue for damages.
  • Has a right to rescind the contract.
  • All of these
A contracted with B to supply materials worth Rs. $$10,000$$ for interior design. The contract between A and B is _________.
  • contract of sale
  • contract of work
  • contract of work & labour
  • all of the above
Which of the following is not an essential element of a Contract of sale?
  • Existence of essential elements of a valid Contract
  • Payment of price at the time of Contract
  • Subject matter of Contract must be goods
  • There should be two parties i.e., seller and buyer
An agreement made with an alien enemy is ________.
  • unlawful on the ground of public policy
  • unlawful because it becomes difficult to be performed
  • valid
  • voidable
Under Section 27 of Indian Contract Act, an agreement in restraint of trade is valid if relates to _________.
  • mutual agreement
  • business contingency
  • sale of goodwill
  • all of the above
Prize competitions which involves skills, e.g. picture puzzles, crossword competitions, athletic competitions, etc are__________.
  • wagering agreements
  • not wagering agreements
  • void agreements
  • voidable agreements
Execution of a bond requiring employees leaving the organisation to pay compensation to employer is ________.
  • voidable agreement
  • void agreement
  • unenforceable agreement
  • valid agreement
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Practice Class 12 Commerce Legal Studies Quiz Questions and Answers