MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 54 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration (BBA) knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as: |
| A. | special damages |
| B. | nominal damages |
| C. | liquidated damages |
| D. | compensatory damages |
| Answer» D. compensatory damages | |
| 2. |
Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if: |
| A. | he is not illiterate and can read and understand the terms of the contract. |
| B. | he is capable of understanding the contract and forming a rational judgement as to its effect upon his interests. |
| C. | he is of the age of majority and is not disqualified from contracting by any law to which he is subject. |
| D. | he is not suffering from any mental disease or distress. |
| Answer» C. he is of the age of majority and is not disqualified from contracting by any law to which he is subject. | |
| 3. |
Choose the incorrect statement: To constitute a wager, following elements should be present in the agreement: |
| A. | uncertain event |
| B. | each party must pay in a win or lose situation |
| C. | neither party should have any contract over the event |
| D. | there should be a promise to pay money only |
| Answer» E. | |
| 4. |
A 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 is said to be a: |
| A. | fraud |
| B. | misrepresentation |
| C. | mistake |
| D. | misinterpretation |
| Answer» C. mistake | |
| 5. |
In a contract of guarantee, a person who promises to discharge another s liability is known as |
| A. | the principal debtor |
| B. | the creditor |
| C. | the indemnified |
| D. | the surety |
| Answer» E. | |
| 6. |
The delivery of goods by one person to another as a security for the repayment of a debt is known as a |
| A. | bailment |
| B. | hypothecation |
| C. | pledge |
| D. | mortgage |
| Answer» D. mortgage | |
| 7. |
A person appointed by the original agent to act in the business of the agency but under the control of the original agent is known as a/an |
| A. | agent |
| B. | sub-agent |
| C. | substituted agent |
| D. | del credere agent |
| Answer» C. substituted agent | |
| 8. |
A mercantile agent to whom the possession of the goods is given for the purpose of selling the same is known as a/an |
| A. | broker |
| B. | factor |
| C. | commission agent |
| D. | insurance agent |
| Answer» C. commission agent | |
| 9. |
In contract through sea route, where the seller has to put the goods on board a ship at his own expenses, the contract is known as |
| A. | cif contract |
| B. | fob contract |
| C. | board obligatory contract |
| D. | ex-ship contract |
| Answer» C. board obligatory contract | |
| 10. |
The general rule is that the buyer of goods is responsible for his choice or selection. This doctrine is |
| A. | ignorantia juris non excusat |
| B. | quid pro quo |
| C. | nemo dat quad non habet |
| D. | caveat emptor |
| Answer» E. | |
| 11. |
Where the seller appoints his person to bid at the auction sale without informing to bidder, it is called as |
| A. | prepared bidding |
| B. | pretend bidding |
| C. | power bidding |
| D. | both (a) & (c) |
| Answer» C. power bidding | |
| 12. |
In a contract through sea route where the seller has to deliver the goods to the buyer at the port of destination |
| A. | fob contract |
| B. | cif contract |
| C. | ex-ship contract |
| D. | destination contract |
| Answer» D. destination contract | |
| 13. |
Where the court orders the defaulting party to carry out the promise according to the terms of the contract, it is called as a/an |
| A. | quantum meruit |
| B. | rescission |
| C. | injunction |
| D. | specific performance |
| Answer» E. | |
| 14. |
_________ means an order of the court restraining a person from doing what he promised not to do |
| A. | quantum meruit |
| B. | rescission |
| C. | specific performance |
| D. | injunction |
| Answer» D. injunction | |
| 15. |
Liquidated damages means an amount of the _________ that may result from the breach of contract |
| A. | actual loss |
| B. | loss suffered |
| C. | pre-estimated probable loss |
| D. | pre-estimated actual loss |
| Answer» D. pre-estimated actual loss | |
| 16. |
Claim for necessaries supplied to a person incompetent to contract, from the property of such person. It is covered under the concept of |
| A. | quasi-contract |
| B. | caveat emptor |
| C. | contingent contract |
| D. | wagering agreement |
| Answer» B. caveat emptor | |
| 17. |
When the contract is perfectly valid but cannot be enforced because of certain technical defects. This is called |
| A. | unilateral contract |
| B. | bilateral contract |
| C. | unenforceable contract |
| D. | void contract |
| Answer» D. void contract | |
| 18. |
When the offers made by two persons to each other containing similar terms of bargain cross each other in post, they are known as |
| A. | cross offers |
| B. | implied offers |
| C. | direct offers |
| D. | express offers |
| Answer» B. implied offers | |
| 19. |
An agreement whereby one party assists another in recovering money or property and in turn share in the proceeds of the action is called |
| A. | champerty |
| B. | maintenance |
| C. | stifling with prosecution |
| D. | trafficking the public office |
| Answer» B. maintenance | |
| 20. |
An adjudicating officer, under the IT Act, 2000, for holding inquiry and imposing penalty is appointed by the |
| A. | Controller |
| B. | Central Government |
| C. | Cyber Appellate Tribunal |
| D. | High Court |
| Answer» C. Cyber Appellate Tribunal | |
| 21. |
An application for the issue of Digital Signature Certificate should be accompanied by the prescribed fee not exceeding |
| A. | Rs. 15,000 |
| B. | Rs. 20,000 |
| C. | Rs. 25,000 |
| D. | Rs. 30,000 |
| Answer» D. Rs. 30,000 | |
| 22. |
The offer which is allowed to remain open for the acceptance over a period of time is known as a/an |
| A. | standing offer |
| B. | specific offer |
| C. | special offer |
| D. | implied offer |
| Answer» B. specific offer | |
| 23. |
If the applicant had to submit the RTI application to the APIO, he should be provided information within ___ days from the date of receipt of application by the APIO |
| A. | 45 |
| B. | 90 |
| C. | 35 |
| D. | 30 |
| Answer» D. 30 | |
| 24. |
A market comprising the area in which the conditions of competition for supply of goods known as: |
| A. | relevant product market |
| B. | relevant geographic market |
| C. | relevant market |
| D. | none of these |
| Answer» C. relevant market | |
| 25. |
Which of the following is not come under the definition of Information under RTI Act, 2005 |
| A. | log books |
| B. | file notings |
| C. | data material held in any electronic form |
| D. | circulars |
| Answer» C. data material held in any electronic form | |
| 26. |
Under voluntary disclosure of information, every public authority shall publish different prescribed types of information on their website within ____ days of an enactment |
| A. | 30 |
| B. | 60 |
| C. | 90 |
| D. | 120 |
| Answer» E. | |
| 27. |
An unlawful act by which an intending purchaser is prevented from bidding or raising the price at an auction sale is known as |
| A. | decoy ducking |
| B. | puffering |
| C. | damping |
| D. | none of these |
| Answer» D. none of these | |
| 28. |
The goods which are to be produced by the seller after the contract of sale is made are known as |
| A. | contingent goods |
| B. | unascertained goods |
| C. | future goods |
| D. | none of the above |
| Answer» D. none of the above | |
| 29. |
When the buyer s right of quiet possession of goods is affected by the seller s fault, the buyer can |
| A. | reject the goods |
| B. | claim for damages |
| C. | repudiate the contract |
| D. | all of the above |
| Answer» C. repudiate the contract | |
| 30. |
The doctrine of restitution refers to the restoration of property or goods, obtained by false representation. This doctrine is |
| A. | beneficial to minors |
| B. | not applicable to minors |
| C. | applicable to minors |
| D. | none of the above |
| Answer» D. none of the above | |
| 31. |
Commission shall maintain proper accounts and other relevant records and prepare an annual statement of accounts under section. |
| A. | 51 |
| B. | 53 |
| C. | 54 |
| D. | 52 |
| Answer» E. | |
| 32. |
A person who is intended by the originator to receive the electronic record is, under the IT Act, known as |
| A. | intermediary |
| B. | originator s agent |
| C. | addressee |
| D. | keyholder |
| Answer» D. keyholder | |
| 33. |
If a person accepts a lesser sum of money than what was contracted for, in the discharge of the whole debt, it is known as |
| A. | a waiver |
| B. | a remission |
| C. | an alteration |
| D. | a rescission |
| Answer» C. an alteration | |
| 34. |
Under the pledge, the person who pledges is known as a pledgor and the bailee is known as a |
| A. | bailor |
| B. | bailee |
| C. | pledgee |
| D. | pledgor |
| Answer» D. pledgor | |
| 35. |
Because of supervening event, the promisor is excused from the performance of the contract. This is known as |
| A. | a doctrine of frustration |
| B. | an initial impossibility |
| C. | a doctrine of ultra-vires |
| D. | an operation of law |
| Answer» B. an initial impossibility | |
| 36. |
In case the buyer rejects the whole quantity of goods due to short delivery or excess delivery, the contract is treated as |
| A. | subsisting |
| B. | cancelled |
| C. | void |
| D. | invalid |
| Answer» B. cancelled | |
| 37. |
Where a person agrees to maintain a suit, in which he has no interest, the proceeding is known as |
| A. | champerty |
| B. | maintenance |
| C. | stifling with prosecution |
| D. | interference with course of justice |
| Answer» C. stifling with prosecution | |
| 38. |
Any person who, without the permission of the owner, damages any computer, computer system or computer network shall be liable to pay damages by way of compensation under the IT Act, 2000 upto: |
| A. | one lakh rupees |
| B. | ten lakh rupees |
| C. | one crore rupees |
| D. | none of these |
| Answer» D. none of these | |
| 39. |
In which of the following circumstances a contract can be treated as discharged under the concept of supervening impossibility? |
| A. | spurt in prices |
| B. | change in import policy |
| C. | non-receipt of raw material from the supplier |
| D. | shortage of working capital |
| Answer» C. non-receipt of raw material from the supplier | |
| 40. |
For the enforcement of a promise to pay a time-barred debt without consideration, which of the following condition is not required? |
| A. | it must be in writing |
| B. | it must be definite and express |
| C. | it must be signed by the promisor |
| D. | it must be registered in court of law |
| Answer» E. | |
| 41. |
Any person who on behalf of another person receives, stores or transmits a message is, under the IT Act, known as |
| A. | intermediary |
| B. | originator s agent |
| C. | addressee |
| D. | keyholder |
| Answer» B. originator s agent | |
| 42. |
Where money is exchanged by one person for some money with another person, the transaction is known as |
| A. | barter |
| B. | exchange |
| C. | money sale |
| D. | none of the above |
| Answer» C. money sale | |
| 43. |
When one of the parties is under a mistake as to a matter of fact essential to the agreement, it is called |
| A. | unilateral mistake |
| B. | bilateral mistake |
| C. | partial mistake |
| D. | incomplete mistake |
| Answer» B. bilateral mistake | |
| 44. |
X contract to deliver 1000 bags of wheat at Rs. 100 per bag on a future date. On the due date, he refuses to deliver. The market price on that day is Rs. 120 per bag. Which damages can be granted by the court |
| A. | Ordinary damage |
| B. | Special damage |
| C. | Remote |
| D. | Vindictive damage |
| Answer» B. Special damage | |
| 45. |
When a person has done some work under a contract and the other party repudiates the contract, then the party who performed the work can claim remuneration for the work done. This is based on the principle of |
| A. | rescission |
| B. | quantum meruit |
| C. | injunction |
| D. | specific performance |
| Answer» C. injunction | |
| 46. |
A contract in which one person promises to compensate the other for the loss suffered by him, due to the conduct of the promisor or of any other person, is known as |
| A. | contract of indemnity |
| B. | quasi-contract |
| C. | contract of guarantee |
| D. | none of these |
| Answer» B. quasi-contract | |
| 47. |
A minor s guardian is not liable to the creditor for breach of contract by the minor, if the contract is for __________ |
| A. | supply of necessaries |
| B. | supply of non-necessaries |
| C. | supply of services |
| D. | all of the above |
| Answer» E. | |
| 48. |
X contracts to sell his scooter to Y for Rs. 50,000 and Y agrees to pay on delivery. Both the parties perform their promises. This is called |
| A. | a waiver |
| B. | breach of a contract |
| C. | an attempted performance of contract |
| D. | an actual performance of a contract |
| Answer» E. | |
| 49. |
Where a party to contract transfers his rights under the contract to another person, it is legally known as |
| A. | novation of a contract |
| B. | rescission of a contract |
| C. | waiver of a contract |
| D. | assignment of a contract |
| Answer» E. | |
| 50. |
Contract is defined as an agreement enforceable by law, vide section . . . . . of the Indian Contract Act |
| A. | 2 (e) |
| B. | 2 (f) |
| C. | 2 (h) |
| D. | 2 (i) |
| Answer» D. 2 (i) | |