Q. What happens if an offer is revoked before acceptance?
-
A.
The offer is still valid
-
B.
The offeree can still accept
-
C.
The offer is void
-
D.
The offer can be accepted later
Solution
If an offer is revoked before acceptance, it becomes void and cannot be accepted.
Correct Answer:
C
— The offer is void
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Q. What happens if one party breaches a contract?
-
A.
The contract is automatically void.
-
B.
The non-breaching party can seek remedies.
-
C.
Both parties must renegotiate the contract.
-
D.
The breaching party is always liable for damages.
Solution
If one party breaches a contract, the non-breaching party can seek remedies for the breach.
Correct Answer:
B
— The non-breaching party can seek remedies.
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Q. What is 'capacity' in contract law?
-
A.
The ability to perform the terms of the contract.
-
B.
The legal ability to enter into a contract.
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C.
The financial ability to fulfill the contract.
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D.
The willingness to negotiate terms.
Solution
Capacity refers to the legal ability of a party to enter into a contract.
Correct Answer:
B
— The legal ability to enter into a contract.
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Q. What is 'specific performance' in contract law?
-
A.
A type of damages awarded for breach
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B.
A court order to fulfill the terms of the contract
-
C.
A negotiation tactic
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D.
A method of contract termination
Solution
Specific performance is a legal remedy where the court orders the breaching party to perform their contractual obligations.
Correct Answer:
B
— A court order to fulfill the terms of the contract
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Q. What is a breach of contract?
-
A.
Failure to perform any term of a contract
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B.
Performing a contract partially
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C.
Performing a contract late
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D.
All of the above
Solution
A breach of contract can occur through failure to perform, partial performance, or late performance.
Correct Answer:
D
— All of the above
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Q. What is a common remedy for breach of a marriage contract?
-
A.
Monetary damages
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B.
Specific performance
-
C.
Annulment of the marriage
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D.
Injunction against future actions
Solution
Annulment of the marriage is a common remedy for breach of a marriage contract, as it voids the marriage as if it never occurred.
Correct Answer:
C
— Annulment of the marriage
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Q. What is an anticipatory breach?
-
A.
A breach that occurs after the contract is signed
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B.
A party's indication that they will not perform their obligations
-
C.
A minor failure to perform
-
D.
A breach that is resolved before it occurs
Solution
An anticipatory breach occurs when one party indicates they will not perform their contractual obligations.
Correct Answer:
B
— A party's indication that they will not perform their obligations
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Q. What is an example of a unilateral contract?
-
A.
A contract for the sale of goods.
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B.
A reward contract for finding a lost pet.
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C.
A lease agreement.
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D.
A partnership agreement.
Solution
A unilateral contract is one where one party makes a promise in exchange for an act, such as a reward for finding a lost pet.
Correct Answer:
B
— A reward contract for finding a lost pet.
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Q. What is consideration in contract law?
-
A.
A mutual agreement between parties.
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B.
Something of value exchanged between parties.
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C.
The legal capacity to enter a contract.
-
D.
The intention to create legal relations.
Solution
Consideration refers to something of value exchanged between parties in a contract.
Correct Answer:
B
— Something of value exchanged between parties.
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Q. What is consideration in the context of contract formation?
-
A.
A formal agreement between parties
-
B.
Something of value exchanged between parties
-
C.
The intention to enter into a contract
-
D.
The legal capacity of the parties
Solution
Consideration refers to something of value exchanged between parties, which is essential for a contract to be enforceable.
Correct Answer:
B
— Something of value exchanged between parties
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Q. What is required for a contract to be considered performed?
-
A.
Both parties must agree to the terms
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B.
All parties must fulfill their obligations
-
C.
Only one party must fulfill their obligations
-
D.
The contract must be in writing
Solution
A contract is considered performed when all parties fulfill their obligations as outlined in the agreement.
Correct Answer:
B
— All parties must fulfill their obligations
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Q. What is required for a contract to be considered valid?
-
A.
Offer, acceptance, and consideration
-
B.
Only an offer
-
C.
Acceptance only
-
D.
Consideration only
Solution
A valid contract requires an offer, acceptance, and consideration.
Correct Answer:
A
— Offer, acceptance, and consideration
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Q. What is required for a valid offer in contract formation?
-
A.
Intention to create legal relations
-
B.
A written document
-
C.
Acceptance by the offeree
-
D.
A counter-offer
Solution
A valid offer must demonstrate the intention to create legal relations.
Correct Answer:
A
— Intention to create legal relations
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Q. What is required for a valid offer in contract law?
-
A.
It must be made in writing.
-
B.
It must be communicated to the offeree.
-
C.
It must include a deadline for acceptance.
-
D.
It must be made by a licensed professional.
Solution
A valid offer must be communicated to the offeree to be effective.
Correct Answer:
B
— It must be communicated to the offeree.
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Q. What is required for a valid offer in the context of marriage contracts?
-
A.
A written document signed by both parties
-
B.
A clear intention to create a legal obligation
-
C.
A public announcement of the intention to marry
-
D.
A witness present during the offer
Solution
A valid offer must demonstrate a clear intention to create a legal obligation, which is essential in the context of marriage contracts.
Correct Answer:
B
— A clear intention to create a legal obligation
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Q. What is required for a valid offer under the Transfer of Property Act?
-
A.
Intention to create legal relations
-
B.
Communication of the offer
-
C.
Certainty of terms
-
D.
All of the above
Solution
A valid offer must have the intention to create legal relations, be communicated to the offeree, and have certainty of terms.
Correct Answer:
D
— All of the above
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Q. What is the 'doctrine of part performance'?
-
A.
A principle allowing enforcement of an unregistered contract
-
B.
A principle allowing for specific performance of a contract
-
C.
A principle that requires all contracts to be in writing
-
D.
A principle that voids oral contracts
Solution
The doctrine of part performance allows for the enforcement of an unregistered contract if one party has partially performed their obligations.
Correct Answer:
A
— A principle allowing enforcement of an unregistered contract
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Q. What is the 'mirror image rule' in contract law?
-
A.
An acceptance must exactly match the terms of the offer.
-
B.
A contract must be in writing to be enforceable.
-
C.
Consideration must be equal on both sides.
-
D.
An offer can be revoked at any time.
Solution
The mirror image rule states that an acceptance must exactly match the terms of the offer.
Correct Answer:
A
— An acceptance must exactly match the terms of the offer.
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Q. What is the 'reasonable person' standard in negligence cases?
-
A.
A subjective standard based on the defendant's perspective.
-
B.
An objective standard based on how a typical person would act.
-
C.
A standard that varies by jurisdiction.
-
D.
A standard that only applies to professionals.
Solution
The 'reasonable person' standard is an objective standard based on how a typical person would act in similar circumstances.
Correct Answer:
B
— An objective standard based on how a typical person would act.
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Q. What is the age of criminal responsibility under IPC?
-
A.
7 years
-
B.
10 years
-
C.
12 years
-
D.
14 years
Solution
Under IPC, a child below the age of 7 years is not criminally responsible for any offense.
Correct Answer:
A
— 7 years
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Q. What is the consequence of failing to complete an investigation within the stipulated time?
-
A.
The accused is automatically released
-
B.
The case is dismissed
-
C.
The police must file a report
-
D.
The investigation continues indefinitely
Solution
If an investigation is not completed within the stipulated time, the accused is automatically released from custody.
Correct Answer:
A
— The accused is automatically released
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Q. What is the consequence of failing to comply with the provisions of the Criminal Procedure Code during an investigation?
-
A.
The investigation is invalid
-
B.
The accused is automatically acquitted
-
C.
The evidence is admissible
-
D.
There are no consequences
Solution
Failing to comply with the provisions of the Criminal Procedure Code during an investigation can render the investigation invalid.
Correct Answer:
A
— The investigation is invalid
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Q. What is the difference between liquidated damages and punitive damages?
-
A.
Liquidated damages are predetermined, while punitive damages are meant to punish
-
B.
Liquidated damages are awarded for emotional distress, while punitive damages are for economic loss
-
C.
Liquidated damages are only available in tort cases, while punitive damages are available in contract cases
-
D.
There is no difference
Solution
Liquidated damages are predetermined amounts specified in the contract, while punitive damages are meant to punish the breaching party.
Correct Answer:
A
— Liquidated damages are predetermined, while punitive damages are meant to punish
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Q. What is the effect of a counter-offer on the original offer?
-
A.
It accepts the original offer
-
B.
It rejects the original offer
-
C.
It modifies the original offer
-
D.
It has no effect on the original offer
Solution
A counter-offer effectively rejects the original offer and presents new terms.
Correct Answer:
B
— It rejects the original offer
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Q. What is the effect of a counteroffer?
-
A.
It accepts the original offer
-
B.
It creates a new offer
-
C.
It has no effect
-
D.
It automatically breaches the contract
Solution
A counteroffer creates a new offer and effectively rejects the original offer.
Correct Answer:
B
— It creates a new offer
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Q. What is the effect of a prenuptial agreement on the formation of a marriage contract?
-
A.
It nullifies the marriage
-
B.
It modifies the terms of the marriage contract
-
C.
It has no effect on the marriage contract
-
D.
It requires court approval to be valid
Solution
A prenuptial agreement modifies the terms of the marriage contract by outlining the rights and obligations of each party.
Correct Answer:
B
— It modifies the terms of the marriage contract
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Q. What is the effect of a unilateral contract?
-
A.
Only one party makes a promise
-
B.
Both parties must perform
-
C.
It requires a written agreement
-
D.
It is voidable
Solution
In a unilateral contract, only one party makes a promise, and the other party accepts by performing the requested act.
Correct Answer:
A
— Only one party makes a promise
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Q. What is the effect of a waiver of breach in a contract?
-
A.
It permanently eliminates the right to enforce the contract
-
B.
It allows the breaching party to avoid all liability
-
C.
It prevents the non-breaching party from claiming future breaches
-
D.
It has no effect on the contract
Solution
A waiver of breach prevents the non-breaching party from claiming future breaches of the same type.
Correct Answer:
C
— It prevents the non-breaching party from claiming future breaches
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Q. What is the first element required for a valid contract?
-
A.
Offer
-
B.
Acceptance
-
C.
Consideration
-
D.
Capacity
Solution
The first element required for a valid contract is an offer, which is a proposal to enter into a legally binding agreement.
Correct Answer:
A
— Offer
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Q. What is the legal effect of a minor entering into a contract?
-
A.
The contract is always void.
-
B.
The contract is voidable at the minor's discretion.
-
C.
The contract is enforceable if it is for necessities.
-
D.
Both a and c.
Solution
Contracts with minors are generally voidable at the minor's discretion, but enforceable if for necessities.
Correct Answer:
D
— Both a and c.
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