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11th Standard Commerce Elements of Contract English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021

11th Standard

    Reg.No. :
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Commerce

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Every promise and every set of promises forming the consideration for each other, is an

    (a)

    agreement

    (b)

    contract

    (c)

    offer

    (d)

    acceptance

  2. A contract with or by a minor is a

    (a)

    valid contract

    (b)

    void contract

    (c)

    voidable contract

    (d)

    voidable at the option of either party

  3. 'A' promises to obtain for 'B' an employment in the public service and 'B' promises to pay' Rs.5,00,000 to A. The agreement is.

    (a)

    Legal

    (b)

    Illegal

    (c)

    In good faith

    (d)

    Fraudulent

  4. Which one of the following is not correct ?

    (a)

    Agreement = Offer + Acceptance

    (b)

    Agreement = Proposal + Acceptance

    (c)

    Agreement = Contract + Acceptance

    (d)

    Contract = Agreement + Enforceability by law

  5. All illegal agreements are void; but all void agreements are not illegal.

    (a)

    True

    (b)

    Partly true

    (c)

    False

    (d)

    None of the above

  6. A contract creates

    (a)

    rights in person

    (b)

    rights in parties

    (c)

    no obligations

    (d)

    only obligations and no rights

  7. Mercantile person denotes ....................

    (a)

    Individual

    (b)

    Partnership

    (c)

    A Company

    (d)

    All the above

  8. Law of contract is ................

    (a)

    neither the whole law of agreements nor is it the whole law of obligations

    (b)

    the whole law of agreements

    (c)

    the whole law of obligations

    (d)

    none of these

  9. An agreement is a voidable contract when it is ........................

    (a)

    enforceable if certain conditions are fulfilled

    (b)

    enforceable by law at the option of the aggrieved party

    (c)

    enforceable by both the parties

    (d)

    not enforceable at all

  10. A contract .................

    (a)

    may be void as originally entered into

    (b)

    may become void subsequent to its formation

    (c)

    cannot become void under any circumstances

    (d)

    may become void at the will of a party

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