Sikkim Manipal University LEGAL ASPECTS OF BUSINESS (MBA-3) MB0035

Jul 8th, 2015
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1. _________ Is a rule of action evolved to regulate social life & to avoid conflicts of interests. a. Contract b. Agreement c. Law d. None of the above

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MD. A. A. Khanwww.winsofttech.orgSikkim Manipal UniversityLEGAL ASPECTS OF BUSINESS(MBA-3) MB00351. _________ Is a rule of action evolved to regulate social life & to avoid conflicts of interests.a. Contractb. Agreementc. Lawd. None of the above2. The Indian Contract act was formulated in a. 1987b. 1937c. 1872d. 18733. ________ Is an agreement enforceable by law.a. Contractb. Lawc. Void contractd. None of the above4. ________ Is defined as every promise & every set of promises forming consideration for each other.a. Contractb. Agreementc. Lawd. Void contract5. True of False1. All contracts are agreements but all agreement need not to be contracts.2. There must be consideration supporting every contract.a. 1-True, 2-Falseb. 1-True, 2-Truec. 1-False, 2-Falsed. 1-False, 2-False6. The different classes of contracts are1. Valid contract2. Void contract3. Void able contractMD. A. A. Khanwww.winsofttech.org4. Illegal contract5. Unenforceable contracta. 1, 2, 3, 4b. 1, 2, 3, 4, 5c. 1, 2, 4, 5d. 1, 2, 4, 5, 67. An agreement not enforceable by Law is said to be ___________.a. Voidableb. Invalidc. Voidd. Illegal8. _________ Contract is one, which is valid, but for certain technical reasons such as want of proof, expiry of period etc.becomes unenforceable.a. Void contractb. Void ablec. Enforceabled. All of the above9. The person mailing the proposal is called _________ & the person accepting it is called ________.a. Promisee, P

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