Consideration
Online Exam in Consideration in Mercantile Laws for the preparation of professional exams of ca cpt, ca foundation, cs foundation, cma foundation
Consideration-Test 1
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Subject : Mercantile Laws Questions : 30
Chapter : Consideration- Test 1
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Question 1 of 30
1. Question
1 pointsAgreement without consideration is valid when made ?
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Question 2 of 30
2. Question
1 pointsPast consideration is valid in :
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Question 3 of 30
3. Question
1 pointsConsideration must move at the desire of :
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Question 4 of 30
4. Question
1 pointsWhich of the following is not an exception to the rule, “No consideration, No contract”:
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Question 5 of 30
5. Question
1 points“Privity of Contract” is subject to the exception:
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Question 6 of 30
6. Question
1 pointsA who was badly in need of money offered to sell his piano worth Rs.8,500 to B for Rs.5,000. B refused to buy. A gradually lowered his price until RS.2,500 was reached, which B accepted. Before the piano was delivered A received an offer of a larger sum from X and he refused to carry out the contract with B claiming that the consideration was inadequate. Is A liable to pay damages to B for failure to carry out his part of contract ?
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Question 7 of 30
7. Question
1 pointsRohan promises to make a gift of Rs.10,000 towards the repairs of a temple. The trustees of the temple on the faith of his promise incurs liabilities. Rohan does not pay. Can the trustees recover the promised amount from Rohan ?
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Question 8 of 30
8. Question
1 pointsThe inadequacy of consideration will be taken into account by a court of law :
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Question 9 of 30
9. Question
1 pointsConsideration is defined in the Indian Contract Act, 1872 in :
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Question 10 of 30
10. Question
1 pointsA is indebted to B. He sells a trolley to C. C promises to pay all debts of A to B. If C fails to pay, B has no right to sue C because :
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Question 11 of 30
11. Question
1 pointsWhich of the following is not the essentials of a valid consideration ?
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Question 12 of 30
12. Question
1 pointsWhich of the following statements is correct ?
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Question 13 of 30
13. Question
1 pointsWhich of the following statements is true ?
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Question 14 of 30
14. Question
1 pointsNewton owes Rs.18,000 to Johnson. Johnson promises to accept Rs.10,000 in full settlement of the account. The agreement is :
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Question 15 of 30
15. Question
1 pointsWhich one of the following statements is true :
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Question 16 of 30
16. Question
1 pointsX and Y enter into an agreement to share the profits of the business carried on by both of them: This agreement is ______ .
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Question 17 of 30
17. Question
1 pointsContract created to restrict the rights related to legal proceedings is
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Question 18 of 30
18. Question
1 pointsPromise to pay a time barred debt given in writing is _______ .
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Question 19 of 30
19. Question
1 pointsAn agreement without consideration eration in case of natural love and affection is :
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Question 20 of 30
20. Question
1 pointsStranger to a ______ can sue.
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Question 21 of 30
21. Question
1 pointsIn a contract, consideration must be ________ and of some value.
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Question 22 of 30
22. Question
1 pointsIn case of completed gifts, consideration is :
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Question 23 of 30
23. Question
1 pointsContracts of love and affection are valid under which head.
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Question 24 of 30
24. Question
1 pointsThere can be a stranger to a
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Question 25 of 30
25. Question
1 pointsPayment of time-barred debt is :
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Question 26 of 30
26. Question
1 pointsConsideration in India may be :
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Question 27 of 30
27. Question
1 pointsWhich of the following is Void contract ?
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Question 28 of 30
28. Question
1 pointsA consideration is :
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Question 29 of 30
29. Question
1 pointsWhich of the following statement is true :
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Question 30 of 30
30. Question
1 pointsAn executed consideration is _______ .
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