CONTRACT LAW MCQS SET 49

CONTRACT LAW MCQS SET 49

Void Agreements and Contingent Contract

1. Neither party should have interest in the happening or non-happening of the event other than
a. His goodwill
b. The sum he stands to win or loss
c. Neither (a) nor (b)
d. Both (a) and (b)

2. A “Wagering Contract ‘’ is void under ……… of the Indian Contract Act, 1872.
a. Section 30
b. Section 31
c. Section 32
d. Section 33

3. In a Wagering Agreement, the winning party cannot recover the money.
a. True
b. Partly True
c. False
d. None of the above

4. Wagering Agreement, have been declared illegal and hence void in
a. Gujarat
b. Maharashtra
c. Both (a) and (b)
d. neither (a) nor (b)

5. In the State of Karnataka, Collateral Transactions to a Wagering Agreement are
a. Voidable
b. Illegal and Void
c. Valid
d. Contingent

6 .In the States of Gujarat and Maharashtra, collateral Transaction to a Wagering Agreement are
a. Voidable
b. Illegal and Void
c. Valid and Enforceable
d. Contingent

7. In India, Unauthorized Lottery is
a. Illegal
b. Void
c. Both (a) and (b)
d. Neither (a) nor (b)

8. A, in Ahmedabad, bets with B and loses. A applies to C for a loan in order to pay B. C gives the lone to A to enable him to pay B. In this case C can
a. recover the loan from A
b. not recover the loan from A
c. C can recover the loan from B
d. Either (a) or (b)

9. “Wagering Agreements cover Insurance Contracts also”. This statement is
a. True
b. Partly True
c. False
d. None of the above

10. Share market transactions with a clear intention only to settle the price difference are
a. Wagering Agreements
b. Not Wagering Agreements
c. Contingent Contract
d. Voidable AgreementsANSWER:

1. b
2. a
3. a
4. c
5. c
6. b
7. c
8. b
9. c
10. a