MGT611 Final Term Past Paper

MGT611 Business & Labor Law Solved Objective For Final Term Exam Preparation

1. The consideration in a contract must be:

•  Of adequate value to promise

 Enforced by courts of law

•  Of high worth to promise
•  Accepted by parties on free consent

Q2. Which of the following is not a party to a contract of guarantee?

•  Surety
•  Creditor
•  Debtor

3. Under section 41of contract act, when a promisee accepts performance from a third person, he afterwards:

 Can enforce it against promisor

•  Can not enforce it against promisor
•  Can not enforce it against third person
•  Can enforce it against both promisor and third person

4. When a supplier is unable to deliver the goods on due date due to strike in his

Q5. Which of the following is NOT an element of bailment?

•  Contract
•  Specific purpose
•  Delivery of goods

 Change of ownership

6. A study of the legal source of law is called __________.

•  Legal jurisprudence

Q7. Which of the following is not a contract of indemnity?

•  Insurance of car
•  Insurance of workers’ compensation
•  Insurance of property

 Insurance of life · 8. In Undue Influence, the consent is obtained by: ·  Threat

•  Fraud
•  Domination
•  Physical force

9. “Consideration” is an action which:

•  Is done in the Past
•  Is in progress at Present

 Will supposed to be occur in Future

•  May occur in all the above situations

Q10. In which section of Contract Act, the definition of proposal is provided?

•  Section 1(e)
•  Section 1(f)

 Section 2(a)

•  Section 2(d)

11. The Section 2(g) of contract act defines that an agreement not enforceable by law is said to be:

•  Valid agreement

 Void agreement

•  Voidable agreement
•  Illegal agreement

12. A pledge can also be called a/an __________.

•  Bailment
•  Guarantee
•  Indemnity
•  Pawn

Q13. Which of the following is NOT a type of damages?

 Compound damages

Q14. Which of the following is NOT true about Law?

•  Law is to maintain rights
•  Law upholds justice
•  Law is used to redress wrongs

 Law does not ensures public order

15. In case of Undue Influence, the burden of proof lies upon _______.

 Dominating party

•  Influenced party
•  Both parties
•  The court

16. Coercion is committing, or threatening to commit, any act forbidden by ________.

 Pakistan Penal Code

•  Criminal Procedure Code
•  Civil Law

17. The evolution of law over a period of time is studied as _________.

•  Legal history

18. According to section 10 of contract act, an agreement in order to become a valid contract, must not be one of those that are expressly declared to be ________ by the law.

•  Void
•  Voidable
•  Illegal

19. Agreements without free consent are voidable under which section of Contract Act.

 Section 19

•  Section 20
•  Section 21
•  Section 22

Q20. Which of the following is NOT an essential for a valid proposal?

•  The terms of the offer must be definite and clear
•  The offer must be capable of creating legal relationships
•  The offer must be communicated to the other party

 The offer must be in written form

Q21. The definition of contract is provided by which section of Contract Act?

•  Section 1(d)
•  Section 1(h)
•  Section 2(d)

 Section 2(h)

22. According to section 26 of contract act, every agreement „in restraint of the marriage‟ of a minor is _________.

•  Valid
•  Void
•  Not valid
•  Voidable

23. Consideration must move from:

•  Promisor

 Promisee

•  A third party
•  Promisee or any other person

24. The court may grant rescission when ___________.

•  Contract is void
•  Contract is voidable