Business Law MCQ Practice set for NMIMS and other online Assignment and exam. First, you should practice all business law multiple choice question answer of books as well as previous year question answer of mcq. These MCQs with answer based from your books.
After Practice MCQs of BL, Must take Quiz exam so you can assess your knowledge.
Q1. A contract essentially consists of two elements which are _________and its enforceability by law.
a. an agreement
b. Indian Contract
c. offeree
Answer
a. an agreement
Q2. In a contract there are at least _________parties
a. two
b. three
c. five
Answer
a. two
Q3. The general principles of the law of contracts are covered in _________sections.
a. 75
b. 65
c. 35
Answer
a. 75
Q4. That branch of law which determines the circumstances in which promises made by the parties to a contract shall be legally binding on them is governed by the ………Act, 1872.
a. Indian Contract
b. offeree
c. Labour Law
Answer
a. Indian Contract
Q5. Party making the offer is known as offeror and the party to whom the offer is made is called as_________
a. offeree
b. acceptor
c. Unenforceable
Answer
a. offeree
Q6. When an offeree gives his assent to the offer, then he is known as _________
a. acceptor
b. unilateral
c. valid
Answer
a. acceptor
Q7. Contracts may be classified according to their validity as Valid, Voidable, Void and_________
a. acceptor
b. Unenforceable
c. unilateral
Answer
b. Unenforceable
Q8. A _________contract is one wherein at the time the contract is concluded there is an obligation to perform on the part of one party only.
a. Unenforceable
b. unilateral
c. valid
Answer
b. unilateral
Q9. When in place of accepting the terms of an offer as they are, the offeree accepts the same subject to certain conditions or qualifications, he is said to make a _________offer.
a. accepted
b. reject
c. counter
Answer
c. counter
Q9. If the terms of the offer are loose, vague, ambiguous or uncertain, it is not a _________offer.
a. Unenforceable
b. unilateral
c. valid
Answer
c. valid
Q10. When the person to whom the offer is made signifies his assent thereto, the offer is said to be_________
a. accepted
b. silence
c. rejeted
Answer
a. accepted
Q11. The acceptance of an offer cannot be implied from the _________of the offeree or his failure to reply.
a. accepted
b. silence
c. return
Answer
b. silence
Q12. It is possible for the offeror to revoke the offer before it is _________by the offeree but not later.
a. rejected
b. silence
c. accepted
Answer
c. accepted
Q13. It is necessary to communicate offer to the offeree and the acceptance to the_________
a. offeror
b. consideration
c. promisor
Answer
a. offeror
Q14. The term _________is used in the sense of quid pro que.
a. accepted
b. offeror
c. consideration
Answer
c. consideration
Q15. Consideration must move at the desire of the _________
a. consideration
b. promisor
c. majority
Answer
b. promisor
Q16. Every person is competent to contract if he is of the age of_________
a. consideration
b. promisor
c. majority
Answer
c. majority
Q17. Section _________provides that a minor’s estate is liable to a person who supplies necessaries of life to a minor.
a. 68
b. 65
c. 69
Answer
a. 68
Q18. When two or more persons agree upon the same thing in the same sense they are said to_________
a. consent
b. freely
c. Indian Penal Code
Answer
a. consent
Q19. For a contract to be valid it is not only necessary that the parties consent but also that they consent _________…….
a. consent
b. freely
c. Indian Penal Code
Answer
b. freely
