Question 1

Bearer cheques are also known as------ cheques.

Accepted Answer

A) Crossed 
B) General 
C) Special 
D) Open

Question 2

Which of the following is not the right of an unpaid seller under Sale of Goods Act, 1930:

Accepted Answer

A) Right of lien on goods for the price while the goods are in possession of seller. 
B) Right of stopping the goods in transit, in case of insolvency of buyer 
C) Right of resale as limited by the Act 
D) Right of withholding delivery where the property in the goods has passed to the buyer

Question 3

Which is not the correct statement ?

Accepted Answer

A) If consent is the result of coercion, the agreement is 
B) If a party is minor, the agreement is void . 
C) If the object of an agreement is unlawful, the agreement is void. 
D) If the consideration of an agreement is unlawful, the agreement

Question 4

Which one of the following element is not necessary for a contract ?

Accepted Answer

A) Competent parties 
B) Reasonable terms and conditions. 
C) Free consent 
D) Lawful concentration

Question 5

Document of title includes

Accepted Answer

A) business reports 
B) railway receipt 
C) cash memo 
D) email

Exam 1: Contract Law and Sale of Goods Act

Bearer cheques are also known as------ cheques.

Which of the following is not the right of an unpaid seller under Sale of Goods Act, 1930:

Which is not the correct statement ?

Which one of the following element is not necessary for a contract ?

Document of title includes