CA CPT - Mercantile Law - The Indian Contract Act, 1872 - Basics

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Question - 1

Which of the following is true?

  • A Indian Contract Act is a private law
  • B Law takes cognizance of rights parties

Question - 2

Which one of the following is correct?

  • A Indian Contract Act, 1882
  • B Indian Contract Act, 1972
  • C Indian Contract Act, 1872
  • D Indian Contract Act, 1888.

Question - 3

The Law of Contract is nothing but_____

  • A A child of commercial dealing
  • B A child of religion
  • C A child of day to day politics
  • D A child of economics.

Question - 4

The Indian Contract Act, 1872 extends to ______

  • A Whole of India
  • B Whole of India excluding Jammu and Kashmir
  • C North India only
  • D South India only.

Question - 5

An agreement consists of reciprocal promises between atleast ____

  • A Four parties
  • B Six parties
  • C Three parties
  • D Two parties

Question - 6

To form a valid contract, there should be atleast

  • A Two parties
  • B Three parties
  • C Four parties
  • D Five parties.

Question - 7

Contractual rights and duties are created by

  • A State
  • B Statute
  • C Parties
  • D Custom or Usage

Question - 8

Every contract is an agreement but every agreement is not a contact. This statement is

  • A Wrong
  • B Correct
  • C Correct subject to certain exceptions
  • D Partially correct

Question - 9

Who said "Contract is an agreement creating and defining obligations between parties"?

  • A Pollock
  • B Salmond
  • C Austin
  • D Drucker.

Question - 10

Agreement is defined in Section ________, of the Indian Contract Act, 1872.

  • A 2(c)
  • B 2(e)
  • C 2(g)
  • D 2(i)