1) Consider the following statements :
1. General offer requires the communication of acceptance.
2. All contracts are agreements .
3. All agreements are contracts
4. All illegal agreements are void agreements.
Which of the statements given above are correct ?
A) 2 Only
B) 1,2 and 4
C) 1 and 2
D) 2,3 and 4
Answer : A
2) A wagering agreement in India is declared by the contact Act as :
A) Illegal and void
B) Void but not illegal
C) Voidable at the option of aggrieved party.
Answer : B
3) Which of the following are essential characteristics of a wager ?
1. Mutual chance of gain or loss i.e , one party winning
2.Neither party has control over the other.
3. Uncertain event , which is generally a future event
Select the correct answer using the code given below :
A) 1 and 2 only
B) 2 and 3 only
C) 1and 3 only
D) 1,2 and 3
Answer : D
4) A contingent contract dependent on the happening of future uncertain event can be enforced when the event :
B) Becomes impossible
C) Does not happen
D) None of above is correct
Answer : A
5) A and B enter into an agreement. A promises to give ₹ 1000 to B if he gets two parallel lines touch each other it is :
A) A valid contract
B) A void agreement section 56 of the Indian contract Act because it is an agreement to do an agreement to do an act which is in itself impossible
C) A void agreement under section 36 because happening of event is impossible
D) A void agreement under section 30 because it is a wagering agreement.
Answer : C