Business Regulatory Framework Test 14 April 2013

Q.1. Grumbling acceptance is (a) Valid (b) Not valid (c ) Depends on the situation (d) None of the above conditions. JK Tyres has accepted the tender. This is a (a) Standing tender (b) Definite tender (c ) Indefinite tender (d) Both a and b Q.2. A landlord served a notice on his tenant for increase in rent. The tenant did not accept the offer. But, the tenant continued to occupy the house. Does tenant have to pay higher rent ? (a) Definitely not (b) Definitely yes (c ) Depends on the situation (d) None of the above Q.7. Ram said, I will sell my car for Rs 1 lakh or Rs 1.5 lakhs. (a) This is a valid offer (b) This is not a valid offer (c ) None of the above (d ) Depends on the situation

Q.6. If an acceptor does not reply, the proposer can assume that the offer is accepted. (a) This is true. (b) This is false (c ) Depends on the situation (d) None of the above

Q.3. A person accepted an offer. However, he communicated to the Proposer that he did not agree with some of the conditions. (a) The acceptance is valid. (b) The acceptance is not valid. (c ) Depends on the situation (d) None of the above

Q.8. A Counter offer is Q.4. Definition of Promise is given in (a) Section 2a (b) Section 3a (c ) Section 2b (d) None of the above (a) A Valid acceptance (b) Not a valid acceptance (c ) Depends on the situation (d) None of the above Q.9. An offer made other than words is : (a) A standing offer

Q.5. Arun has submitted a tender to M/s. JK Tyres with detailed terms and

Business Regulatory Framework Test 14 April 2013

(b) Express offer (c ) Counter offer (d) Implied offer (b) Cannot be voided. (c ) Voided by one of the parties (d) Voided by the aggrieved party

Q.10. Ramesh agreed to buy land from Suresh. Ramesh has paid partial amount. Suresh has yet to transfer the land to Ramesh. (a) This is Fully Executed contract. (b) This is Unilateral Partially executed contract. (c ) This is Bilateral Partially executed contract. (d) None of the above.

Q.14. Ramesh made an offer to Suresh, I want to sell my car. Ramesh wanted to sell his Black car. Suresh thought the offer was for the White car. The agreement is (a) Valid (b) Invalid (c ) Depends on the situation (d) None of the above

Q.15. Mr Sharma gave Rs 50000 to Shyam. Shyam is 15 years old. Q.11. A Quasi contract is (a) Not valid (b) Void ab initio (c ) Decided by the court (d) Voidable (a) Mr Sharma can recover the money from Shyam. (b) Mr Sharma cannot recover the money from Shyam. (c ) Depends on the situation (d) None of the above Q.12. An agreement consists of 2 parts. One part is legal and the other part is legal. (a) The entire agreement is void (b) The illegal part is void. (c ) The legal part is void (d) The agreement is valid. Q.13. A voidable contract is (a) Void ab initio