A contract of indemnity shall be valid only if it is ___________
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Question 2 of 30
2. Question
1 points
Category: Corporate and Other Laws
The indemnity holder has the right to __________
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Question 3 of 30
3. Question
1 points
Category: Corporate and Other Laws
There are __________ parties in the contract of guarantee
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Question 4 of 30
4. Question
1 points
Category: Corporate and Other Laws
There are _________ contracts in a contract of guarantee
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Question 5 of 30
5. Question
1 points
Category: Corporate and Other Laws
The person in respect of whose default the guarantee is given is called as _________
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Question 6 of 30
6. Question
1 points
Category: Corporate and Other Laws
A contract of guarantee is a contract to ___________, of a third person in case of a third person in case of his
default.
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Incorrect
Question 7 of 30
7. Question
1 points
Category: Corporate and Other Laws
The person who gives the guarantee is called as __________ and the person to whom guarantee is given is
called as __________
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Incorrect
Question 8 of 30
8. Question
1 points
Category: Corporate and Other Laws
The guarantee is valid even if ___________is incompetent to contract.
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Incorrect
Question 9 of 30
9. Question
1 points
Category: Corporate and Other Laws
A guarantee given by an adult to discharge a loan given to minor is __________
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Incorrect
Question 10 of 30
10. Question
1 points
Category: Corporate and Other Laws
Statement (1): A guarantee given in respect of time barred debt is valid, although the principal debtor is not
liable.
Statement (2): A guarantee given to discharge a debt which is not legally enforceable is not valid.
Correct
Incorrect
Question 11 of 30
11. Question
1 points
Category: Corporate and Other Laws
Consideration received by ___________ is sufficient consideration for _________
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Question 12 of 30
12. Question
1 points
Category: Corporate and Other Laws
Statement (1): The contract of guarantee may provide that the surety shall be liable only for a part of the debt
payable by the principal debtor.
Statement (2): Unless the contract of guarantee otherwise provides, the surety shall be liable for all the debts
payable by the principal debtors to the creditors
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Incorrect
Question 13 of 30
13. Question
1 points
Category: Corporate and Other Laws
Statement (1): In a continuing guarantee, the surety may fix a limit on his liability upto which the guarantee shall
remain effective.
Statement (2): In a continuing guarantee, the surety may fix a time period during which the guarantee shall
remain effective
Correct
Incorrect
Question 14 of 30
14. Question
1 points
Category: Corporate and Other Laws
The liability of surety is __________
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Incorrect
Question 15 of 30
15. Question
1 points
Category: Corporate and Other Laws
The liability of surety arises ___________
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Incorrect
Question 16 of 30
16. Question
1 points
Category: Corporate and Other Laws
The surety is not discharged if a contract to give time to the principal debtor is made by the creditor with
____________
Correct
Incorrect
Question 17 of 30
17. Question
1 points
Category: Corporate and Other Laws
Statement (1): In case of co-sureties, a release by the creditor of one of them does not discharge the others.
Statement (2): In case of co-sureties, a release by the creditor of one of them results in discharge of the surety so
released from his liability towards other co-sureties.
Correct
Incorrect
Question 18 of 30
18. Question
1 points
Category: Corporate and Other Laws
If the creditor does any act which is ___________ with the right of the surety and the eventual remedy of the
surety against ___________ is thereby impaired, the surety is discharged.
Correct
Incorrect
Question 19 of 30
19. Question
1 points
Category: Corporate and Other Laws
A surety has the right of indemnity and right of subrogation against __________
Correct
Incorrect
Question 20 of 30
20. Question
1 points
Category: Corporate and Other Laws
A surety has the right to claim securities and right of set-off against ___________
Correct
Incorrect
Question 21 of 30
21. Question
1 points
Category: Corporate and Other Laws
Statement (1): A surety is entitled to the benefit of every security which the creditor has against the principal
debtor at the time when the contract of suretyship was entered into.
Statement (2): A surety is entitled to the benefit of every security which the creditor has against the principal
debtor, whether or not the surety knows of the existence of such security
Correct
Incorrect
Question 22 of 30
22. Question
1 points
Category: Corporate and Other Laws
Any guarantee which the creditor has obtained by means of __________, is invalid.
Correct
Incorrect
Question 23 of 30
23. Question
1 points
Category: Corporate and Other Laws
Where a person gives a guarantee upon a contact that the creditor shall not act upon it until another person has
joined in it as co-surety, the guarantee is _________, __________
Correct
Incorrect
Question 24 of 30
24. Question
1 points
Category: Corporate and Other Laws
The surety is entitled to claim from the principal debtor all the sums _________
Correct
Incorrect
Question 25 of 30
25. Question
1 points
Category: Corporate and Other Laws
A surety has the right to contribution and right to share benefit of securities against ___________
Correct
Incorrect
Question 26 of 30
26. Question
1 points
Category: Corporate and Other Laws
Statement 1: Rights given under section 125 are not exhaustive.
Statement 1: Indian Contract Act is silent about the rights of Indemnifier. However, they are similar to rights of
surety.
Correct
Incorrect
Question 27 of 30
27. Question
1 points
Category: Corporate and Other Laws
A contract of guarantee may be
Correct
Incorrect
Question 28 of 30
28. Question
1 points
Category: Corporate and Other Laws
Who has the right to sue a third party who causes any damage to the goods or deprives the bailee from using the
goods?
Correct
Incorrect
Question 29 of 30
29. Question
1 points
Category: Corporate and Other Laws
A Del credre agent acts as
Correct
Incorrect
Question 30 of 30
30. Question
1 points
Category: Corporate and Other Laws
In which of the following cases, agent is personally liable
Correct
Incorrect
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