Indian Contract Act-Legal Aptitude 849 Indian Contract Act - LEGAL APTITUDE 1 / 25 25. What is the remedy that allows you to cancel a contract and get back any money or goods you've already provided? a) Damages b) Rescission c) Specific performance d) Injunction 2 / 25 In what situation can a contract be canceled due to fraud? a) When parties disagree about the contract terms b) When one party deceives the other into agreeing c) When parties change their minds d) When one party refuses to fulfill their obligations 3 / 25 23. When can a contract be made voidable at the option of one party? a) When both parties are fully aware of its contents b) When one party believes there is asbestos in a house c) When both parties are aware of the contract's content d) When one party changes their mind 4 / 25 What does "consideration" in a contract refer to? a) Social courtesy b) Money exchanged between parties c) The contract's title d) The length of the contract 5 / 25 According to the act, what must every party entering into a contract be? a) Wealthy b) Knowledgeable about the law c) Competent to understand the implications and consequences d) Over a certain age 6 / 25 What is "free consent" in the context of the Indian Contract Act? a) A contract without any cost b) Consent obtained without coercion, undue influence, fraud, or misrepresentation c) Consent provided by a minor d) Consent given under force 7 / 25 According to the Indian Contract Act, when can an agreement be formed? a) When there is an offer from one party and acceptance from the other b) When both parties have signed the contract c) When there is a verbal agreement d) When there is only an offer, but no acceptance 8 / 25 What is the primary objective of the Indian Contract Act 1872? a) To regulate criminal activities b) To establish property rights c) To provide a legal framework for contract law d) To govern labor disputes 9 / 25 What was the purpose of the 2018 amendment to the Indian Contract Act? a) To make the act apply only to electronic contracts b) To remove outdated provisions c) To facilitate electronic communication in contracts d) To make the act more restrictive 10 / 25 In what year was the latest amendment to the Indian Contract Act made? a) 2000 b) 2010 c) 2018 d) 2020 11 / 25 What is the territorial scope of the Indian Contract Act 1872 within India? a) It applies throughout India, including Jammu & Kashmir b) It applies only to Jammu & Kashmir c) It applies only to certain states within India c) It applies only to certain states within India d) It does not apply in any part of India 12 / 25 In case of a dispute that cannot be resolved through negotiations, what can the parties do according to the Indian Contract Act? a) Seek criminal charges against the other party b) File a lawsuit in civil court c) Take the matter to arbitration d) Break the contract and walk away 13 / 25 What is an "injunction" as a remedy in the context of a breach of contract? a) A formal apology from the breaching party b) A court order to prevent the other party from doing something prohibited under the contract c) A monetary penalty imposed on the breaching party d) A court order to force both parties to renegotiate the contract 14 / 25 When might you seek "specific performance" as a remedy for a breach of contract? a) When the other party has caused emotional distress b) When damages are not an adequate remedy c) When you want the contract annulled d) When the contract is too long 15 / 25 What remedy allows you to claim damages from the other party for losses suffered due to a breach of contract? a) Rescission b) Damages c) Specific performance d) Injunction 16 / 25 What is the remedy that allows you to cancel a contract and get back any money or goods you've already provided? a) Damages b) Rescission c) Specific performance d) Injunction 17 / 25 In what situation can a contract be canceled due to fraud? a) When parties disagree about the contract terms b) When one party deceives the other into agreeing c) When parties change their minds d) When one party refuses to fulfill their obligations 18 / 25 When can a contract be made voidable at the option of one party? a) When both parties are fully aware of its contents b) When one party believes there is asbestos in a house c) When both parties are aware of the contract's content d) When one party changes their mind 19 / 25 What does "consideration" in a contract refer to? a) Social courtesy b) Money exchanged between parties c) The contract's title d) The length of the contract 20 / 25 According to the act, what must every party entering into a contract be? a) Wealthy b) Knowledgeable about the law c) Competent to understand the implications and consequences d) Over a certain age 21 / 25 What is "free consent" in the context of the Indian Contract Act? a) A contract without any cost b) Consent obtained without coercion, undue influence, fraud, or misrepresentation c) Consent provided by a minor d) Consent given under force 22 / 25 According to the Indian Contract Act, when can an agreement be formed? a) When there is an offer from one party and acceptance from the other b) When both parties have signed the contract c) When there is a verbal agreement d) When there is only an offer, but no acceptance 23 / 25 What is the primary objective of the Indian Contract Act 1872? a) To regulate social contracts b) To govern contracts in India c) To provide remedies for criminal offenses d) To enforce property rights 24 / 25 Why was the Indian Contract Act 1872 passed? a) To regulate criminal activities b) To establish property rights c) To provide a legal framework for contract law d) To govern labor disputes 25 / 25 What does the Indian Contract Act 1872 govern? a) Criminal law b) Commercial relationships c) Property law d) Labor law Your score is LinkedIn Facebook Twitter VKontakte
