Inter PN-5 Business Laws and Ethics Quiz 3

1. An agency is terminated by:

2. No consideration is necessary to create:

3. As between the principal and third persons, any person may become:

4. The person for whom an act is done by an agent is called:

5. An agent is a person employed to:

6. In a pledge, the person who delivers the goods is called:

7. Bailment of goods as security for payment of a debt is called:

8. The person who delivers the goods under bailment is called:

9. A guarantee obtained by a creditor by keeping silence as to material circumstances is:

10. A guarantee which the creditor has obtained by means of misrepresentation is:

11. The person to whom the guarantee is given is called:

12. Any guarantee which extends to a series of transactions is called:

13. A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called:

14. In a Contract of Guarantee, the person who gives the guarantee is called:

15. The delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned is:

16. A bailee has a right of:

17. A promise made without the intention of performing it amounts to:

18. When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is:

19. Contracts made before war with an alien enemy which are against public policy are:

20. A minor enters into a contract for the purchase of certain necessaries. In such a case:

21. On attaining the age of maturity, a minor's agreement:

22. An agreement with or by a minor is:

23. A valuable consideration in the eyes of law may consist of:

24. What are the requisites of fraud:

25. Where both the parties to an agreement are under a mistake as a matter of fact essential to the agreement, the agreement is: