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Foundation PN-1 Fblc Quiz 10

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Created on By CA Sonal SabooCA Sonal Saboo

CMA Foundation

Foundation Law Paper 1 Quiz 10

This quiz is based on the CMA Law paper.
Each question is multiple-choice with 4 options, and only 1 option is correct.
Attempt the quiz to test your understanding of CMA law concepts.

1 / 25

Category: Business Laws Paper 1

Under Section 25(1), an agreement made without consideration is valid if it is:

2 / 25

Category: Business Laws Paper 1

What happens to a gift once it is completed, even if there was no consideration?

3 / 25

Category: Business Laws Paper 1

What does "remission" in contract law mean?

4 / 25

Category: Business Laws Paper 1

If a party agrees to perform less than originally promised under a contract, this is called:

5 / 25

Category: Business Laws Paper 1

Can an insolvent person enter into a contract relating to his property?

6 / 25

Category: Business Laws Paper 1

Can a drunken or intoxicated person enter into a valid contract?

7 / 25

Category: Business Laws Paper 1

A contract is not voidable because it was caused by a mistake as to any law in force in India; but mistake as to a law not in force in India has the same effect as:

8 / 25

Category: Business Laws Paper 1

Which of the following contracts by a company may be invalid?

9 / 25

Category: Business Laws Paper 1

In contracts involving personal skill or ability, what happens upon the death of the person?

10 / 25

Category: Business Laws Paper 1

What does unauthorized material alteration in a contract lead to?

11 / 25

Category: Business Laws Paper 1

when a part-time lecturer becomes a full-time lecturer, the earlier contract is discharged by:

12 / 25

Category: Business Laws Paper 1

if A and B plan to marry but A goes mad before the marriage, the contract becomes:

13 / 25

Category: Business Laws Paper 1

The term “Quantum Meruit” literally means:

14 / 25

Category: Business Laws Paper 1

What are E-contracts?

15 / 25

Category: Business Laws Paper 1

What is another name for Actual Breach of Contract?

16 / 25

Category: Business Laws Paper 1

Where the trees were sold so that they were to be cut out and separated from land and taken away by the buyer.This sale is considered a sale of:

17 / 25

Category: Business Laws Paper 1

What are specific goods?

18 / 25

Category: Business Laws Paper 1

In a contract of sale, when one table is sold out of 25 tables, under which condition would the table be considered specific goods?

19 / 25

Category: Business Laws Paper 1

When the buyer does not select goods for him from a lot but the goods are defined only by description, they are called:

20 / 25

Category: Business Laws Paper 1

where ABC agrees to sell to XYZ all the apples which will be produced in his garden next year, these apples are classified as:

21 / 25

Category: Business Laws Paper 1

X selected some party wears in a retail showroom, agreed to take delivery next day and pay next week, but the party wears are destroyed by fire the same day, who bears the loss?

22 / 25

Category: Business Laws Paper 1

A sends 3 dozen silk saris to B on approval or sale or return basis with an option to return within 21 days. B sends a letter of approval within 15 days. When does the sale take place?

23 / 25

Category: Business Laws Paper 1

B of Benaras writes to C of Chennai to send 50 wrist watches by parcel post. C sends the parcel with the correct address, but it is misplaced and never reaches B. Who bears the loss?

24 / 25

Category: Business Laws Paper 1

A wants to sell his typewriter and tells B, who has not seen it, that it is a brand new machine. B agrees to buy it. On delivery, the machine is found to be old and repaired. What right does B have?

25 / 25

Category: Business Laws Paper 1

What does the warranty of freedom from encumbrances imply?

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