CA Foundation Nature of Contracts — practice questions
26 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Foundation Nature of Contracts in the app →Under the Indian Contract Act, 1872, a 'contract' is defined as an agreement enforceable by law in which sectiThe relationship 'Contract = Agreement + ____' is completed by which element?'Every promise and every set of promises, forming the consideration for each other' is the statutory definitioUnder Section 2(b), a proposal once accepted becomes a:A father promises his son a monthly pocket allowance but later refuses. The son cannot enforce it primarily beThe principle that a domestic arrangement between spouses is not a contract for want of intention to create leWhich of the following requirements is one expressly stated in Section 10 of the Act?What is the minimum number of distinct parties required to form a valid contract?'A agrees to sell to B one hundred tons of oil' with no further detail. This agreement is void on the ground o'A agrees with B to discover treasure by magic for a sum of money.' The agreement is void because of:Section 2(j) describes a contract which 'ceases to be enforceable by law'. Such a contract is termed:A voidable contract under Section 2(i) is enforceable:Where consent to an agreement is obtained by coercion, the resulting contract is:Regarding agreements collateral to another agreement, which statement is correct?A debt that can no longer be sued upon because three years have lapsed under the Limitation Act gives rise to Under Section 9, a contract is called an 'express' contract when the proposal or acceptance is made:A coolie, without being asked, picks up a passenger's luggage and the passenger allows him to carry it. The coWithdrawing cash from an ATM is most accurately classified as which kind of contract?A quasi-contract is best described as an obligation that:In an 'executed' contract:Where the consideration on both sides is a promise yet to be performed in the future, the contract is:An advertisement offering a reward to anyone who finds and returns a missing boy, once the boy is found, becomSection 2(a) of the Indian Contract Act, 1872 defines which of the following?'A tells B that he desires to marry by the end of the year.' This is not a valid offer because the willingnessWhich statement correctly expresses the relationship between agreements and contracts?'Consensus ad idem', an essential of a valid agreement, means that the parties: