Question 1

Protest for better security is done for publicity stunt.

Accepted Answer

A)  true
B)  false
C)  attention
D)  fun B

Question 2

A petient in a lunatic Asylum who is at intervals of sound mind :

Accepted Answer

A)  May not contract.
B)  May contract.
C)  May contact during those intervals when he is of sound mind.
D)  May contract only after he becomes completely of sound mind . C

Question 3

Which of the following cannot be said to be included in the term "goods" defined under section 2(7) of the Sale of Goods

Accepted Answer

A)  Stock
B)  Shares
C)  Growing crops
D)  Actionable claims D

Question 4

The voluntary transfer of possession from one person to another is called

Accepted Answer

A)  Transfer
B)  change of possession
C)  Delivery
D)  None of above

Question 5

The sale of goods act is of:

Accepted Answer

A)  1903
B)  1923
C)  1930
D)  1932

Question 6

In a contract of indemnity, minimum no of parties are

Accepted Answer

A)  4
B)  3
C)  2
D)  1

Question 7

An agreement becomes a contract if :

Accepted Answer

A)  It is by free consent of the parties.
B)  Parties are competent.
C)  It is enforceable by law.
D)  None of the above .

Question 8

Seller is a person who

Accepted Answer

A)  sells
B)  buys
C)  debtor
D)  transferee

Question 9

In a contract of indemnity the right of the indemnifier is similar to that of the:

Accepted Answer

A)  debtor
B)  creditor
C)  surety
D)  agent

Question 10

What is the purpose behind the enactment of Sale of Goods Act, 1930?

Accepted Answer

A)  To define the laws relating to the sale of goods
B)  To consolidate and amend the laws relating to the sale of goods
C)  To consolidate, amend and define the laws relating to the sale of goods
D)  To define and amend the laws relating to the sale of goods

Question 11

Before the enactment of Sale of Goods Act, the provisions regarding Sale of

Accepted Answer

A)  Indian Contract Act, 1872
B)  Indian Registration Act, 1908
C)  Transfer of Property Act, 1882
D)  Indian Partnership Act, 1932

Question 12

A person coming forward to accept after it has been dishonoured is called:

Accepted Answer

A)  acceptor for honour
B)  acceptor for paying
C)  payment for honour
D)  holder

Question 13

Every promise and every set of promises, forming the consideration for each other is an

Accepted Answer

A)  agreement
B)  offer
C)  contract
D)  acceptance

Question 14

When an instrument is lost, it is presumed that it was duly stamped

Accepted Answer

A)  true
B)  false
C)  not inchoate
D)  inchoate

Question 15

A sells, by auction to B a horse which A knows to be unsound. A says nothing to B about the horse unsoundness. A does :

Accepted Answer

A)  Fraud
B)  Misrepresentation
C)  No fraud
D)  Undue Influence

Question 16

Section 2(1) of Sale of Goods Act defines 'buyer' as:

Accepted Answer

A)  Person who buys goods and services
B)  Person who agrees to buy goods
C)  Person who buys or agrees to buy goods
D)  Person who buys or agrees to buy goods and services

Question 17

The correct sequence in the formation of a contract is :

Accepted Answer

A)  Offer, acceptance, agreement, consideration.
B)  Agreement, consideration, offer,acceptance.
C)  Offer , Consideration, acceptance, agreement.
D)  Offer,acceptance, consideration, agreement.

Question 18

Future goods means goods to be manufactured or produced or acquired by the seller

Accepted Answer

A)  In future prescribed time
B)  after making of contract
C)  before making of contract
D)  none of the above

Question 19

In a standardized contract :

Accepted Answer

A)  The individual has no choice but to accept and sign on
B)  The individual must be protected in contract.
C)  The agreement is without consideration.
D)  None of the above.

Question 20

An agreement enforceable by law is

Accepted Answer

A)  agreement
B)  contract
C)  offer
D)  promise

Exam 1: Contract Law and Sale of Goods Act