1) Section 62 of the Indian contract Act 1872 provides :


A) Novation


B) Contingent contract


C)  Promisee may dispense with or remit performance of promise.


D) Consequences of rescission of a voidable contract.



Answer : A


2)  Section 64  of the Indian Contract Act 1872 provides :


A) Consequences of rescission of a voidable Contract.


B) Promisee may dispense with or remit performance of promise.


C) Effect of Novation, rescession and alteration of contract .


D) Mode of communicating or revoking a rescission of voidable Contract.


Answer : A


3) Section 66 of Indian Contract Act 1872 provides : 


A)  Mode of communicating or revoking a rescission of voidable contract.


B) Novation


C) Promise


D) Agreement 



Answer : A



4) Change of the nature of the obligation is a contract is known as :


A) Renovation


B) Novation 


C) Agreement  


D) Quasi contract



Answer : B




5) If the creditor accepts a lesser sum of money than what was due under the contract in discharge of  whole debt,it is called :



A) Remission


B) Novation


C) Contingent contract


D) Quasi contract




Answer : A

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