CA CPT Examination

Mercantile Law

Level of Knowledge : Basic knowledge

Objective :

6. A person who had the means of discovering the truth with ordinary diligence can avoid the contract on the ground of misrepresentation. This statement is _______

a) True
b) False
c) Partly true
d) Can't say

7. Agreement the meaning of which is uncertain is _______

a) Valid
b) Void
c) Voidable
d) Illegal

8. Contract can be discharged by:-

a) Novation
b) Performance
c) Alteration
d) All of the above

9. Acceptance of consideration lesser than that agreed is known as _______

a) Rescission
b) Novation
c) Remission
d) Alteration

10. Reciprocal promises are __________

a) Promises made by both parties to the contract
b) Promise made by promisor only
c) Promise made by promise only
d) None of these