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.

D) Immoral

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 :

A) Happens

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

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