Practice Test

1) A creditor agrees with his debtor & a third party to accept that third party as his debtor the contract is discharged by

2) Partial recession of a contract occurs where the original contract is varied by

3) A contract stands discharged

4) In which of the ways can a contract be discharged by impossibility of performance ?

5) Novation can be made by

6) Section ______of the Indian contract act deals with 'agreement in restraint of legal proceedings '

7) Novation of a contract under Indian contract act means

8) For discharge of a contract by Novation ,consent of ___is required

9) In discharge is contract by novation ,the consideration for the new contract is

10) A contract is discharged by rescession which means the

11) Which of the following is /are void ? 1. Agreement in restraint of legal proceedings. , 2. Agreement to stifle prosecution, 3. Agreement by an outgoing partner with his partner not to carry on any business within a specified period or within specified local limits, 4. Contingent Contract

12) Cancellation of the contract by any party or all the parties to a conract is called

13) Substitution of a new contract in place of an existing contract is called

14) The mutual consideration for discharge by rescission is

15) Alteration

16) Acceptance by the promisee of a lesser fulfillment of the promise made is called

17) In case death of the promisor, the contract involving personal skills

18) On the performance of obligation by the parties to the contract

19) A contracts with B to supply certain goods at B's warehouse by 15th may and B agrees to pay on delivery. Both of them may agree to modify the terms, say, delivery on 18th may and payment one week since delivery. The original contract is discharged by

20) A,a singer ,enters into contract with B , the manager of a theatre,to sign at his theatre two nights in every week during next two months for Rs.100 for each night's .on the sixth night A willfully absent herself from the theatre

21) Prior to the date of performance ,if the promisor refuses to perform ,it is called

22) an agreement to do an impossible act

23) where a debtor ,owing several distinct debts to one person ,makes a payment to him either with express intimation ,or under circumstances implying ,that the payment to be applied to the discharge of some particular

24) where there is no stipulation as to payment of any particular debt

25) Where neither party makes any appropriation, the payment shall be applied

26) A contract is discharged by the operation of law

27) If the parties to a contract agree to substitute a new contract for it ,or to rescind or alter it

28) A owes B Rs.10,000 .A enters into an agreement with B ,& gives B a mortgage of his estate for Rs.5,000 in place of the debt of Rs.10,000

29) In case of Novation

30) A owes B Rs.5,000 , C pays to B Rs.1,000 & b accepts them ,in satisfaction of his claim on A

31) rescission is a contract

32) Contracting parties may not remain same in -----------

33) If the parties to a contract agree to rescind it, the original contract_________l

34) ----------- means a change one or the more terms of the contract with the mutual consent of the parties

35) Impossibility which does not exist at the time of making the contract but which arise subsequently after the formation of the contract is called

36) Where the performance of a contract becomes subsequently impossible or unlawful, the contract becomes.

37) If war is declared between India and Pakistan, then the contract entered between parties of these two countries becomes

38) In case of commercial impossibility

39) X of Delhi agreed to sell 100 bales of cotton @ Rs.1,000 per bale and deliver within a fortnight at the buyer's godown at Lahore, if these goods where to be manufacture by Z. But if Z didn't manufacture those goods, then the contract is

40) X undertakes to paint a picture for Y. He dies before he paints the picture. The contract

41) A contract is not discharged by the supervening impossibility in case of

42) If the performance of the contract becomes impossibility due to the act of omission of a party, it is called as

43) When a person is declared insolvent by the Court of Law, is discharged from all the liabilities on all contract entered into

44) The period of limitation for recovering a debt is

45) When a contract cases to bind the parties to it, it is said to be

46) A was the tenant of B's house. A purchased B's house. The old agreement between A A and B is discharged. Such discharge is called a/an

47) X contracted to sell his plot of 500 sq. yards to Y for Rs. 1,00,000. The sale deed which was in possession of Y. Before registration, X altered the deed and made 300 sq. yards. The contract was discharged on the ground of.

48) Once the promise is performed under the contract, the contract to an end. This is called

49) ----------- signifies that the parties are not further bound under the contract.

50) The contract is discharged on the ground of

51) A contract is discharged, if the is not performed within

52) ------------ means the failure of a party to perform his obligations.

53) Breach of a contract may be

54) -------------- occurs on the due date of performance or during the performance

55) -------------- occurs prior to the date of performance

56) In case of anticipatory breach, the aggrieved party can

57) Where the impossibility is unknown to ------------ the parties, agreement is void ---------- ab initio, when impossibility is -----------

58) All the contract that are entered into with alien enemy during the war is

59) Which of the following events do not discharge the contract unless specifically provided by parties

60) The remission is the valid discharge of whole of the liability under the contract. which section provides for their provision of Indian contract act.

61) Breaking of an obligation which one is bound to do a contract is called

62) No consideration is necessary for a waiver

63) A bill of exchange which was accepted by K, reaches K's hands after being negotiated and endorsed through 4 other parties. The contract is discharged due to

64) In case of alteration, there is change in the parties and new parties may be included.

65) A contract can be discharged by -

66) A contracts to sell his car to B for ? 4,00,000 and B agrees to pay on delivery. Once the car is delivered to B and B pays ? 4,00,000, contract comes to an end, This is called -

67) When an inferior right accruing to a party in a contract merges into a superior right accruing to the same party, then -

68) A holds a house on lease, After that he buys the house and became owner, The Contract is discharged by ______.

69) A Contract entered between Promisor and Promisee becomes impossible to perform due to destruction of subject matter. In this case -

70) The original contract need not be performed if there is-

71) If a new contract is substituted in place of an existing contract it is called -

72) Novation of a contract under Indian Contract Act, means -

73) X & Y entered into an agreement to buy an imported car for ? 30,000. Later on they cancelled the agreement This is known as _______.

74) When both the parties have decided to cancel the contract, it is known as ______.

75) A voidable contract becomes void in case of

76) Rescission of a Voidable Contract may also be revoked and the parties can get back on die original contract.

77) Change in some or all terms of the Contract is -

78) Ashok owes Lakhsmi ? 25,000/-. Lakshmi said that she will accept Rs15,000/- towards final settlement It is contract.