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1. In an executed contract, the obligation of ________:

(a) both the parties have been fulfilled

(b) both the parties are outstanding

(c) obligation of one party is outstanding

(d) none of these

Answer: (a)

2. 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

Answer: (b)

3. The term consideration is defined in __ section of the Indian Contract

Act, 1872.

(a) 2(a)

(b) 2(d)

(c) 3(a)

(d) 2(h)

Answer: (b)

4. An agreement by way of wager under section 30 is:

(a) void

(b) voidable

(c) valid

(d) unenforceable

Answer: (a)

5. A contingent contract:

(a) is void

(b) never becomes void

(c) becomes void when the event becomes impossible

(d) is voidable

Answer: (c)

6. A quasi contract lacks:

(a) agreement

(b) consent

(c) both

(d) none of these

Answer: (c)

7. An agreement & contract are one and same thing:

(a) True

(b) False

Laws of Contracts  37

(c) Depends on the situation

(d) None of these

Answer: (b)

8. Two persons have the capacity to contract:

(a) If both are not of unsound mind

(b) If none is disqualified from contracting by any law to which he is subject

(c) If both have attained the age of maturity

(d) All of the above

Answer: (d)

9. A minor is a person who has not attained the age of:

(a) 15 years

(b) 18 years

(c) 21years

(d) 25 years

Answer: (b)

10. A contract can be performed by:

(a) promisor himself

(b) agent of the promisor

(c) legal representative of the promisor

(d) either of these three

Answer: (d)

11. The term “Quid Pro Quo” is applied in connection with:

(a) capacity of the parties

(b) consideration

(c) free consent

(d) legality of object

Answer: (b)

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

perform the contract:

(a) immediately

(b) within the shortest time

(c) within a reasonable time

(d) within next 21days

Answer: (c)

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