MGT611 Midterm Solved Mega File

MGT611

Business & Labor Law

Q1. of 20 ( Start time: 06:25:15 PM ) Total Marks: 1

If two or more persons agree upon the same thing in the same sense, what is it called according to section 13 of Contract Act?

Consent

Agreement Promise Contract Reference: " Consent" defined Sec. 13: Two or more persons are said to consent when they agree upon the same thing in the same sense.

Q2. of 20 ( Start time: 06:26:57 PM ) Total Marks: 1

Committing, or threatening to commit, any act forbidden by Pakistan Penal Code is called _______.

Coercion

Fraud Misrepresentation Mistake

Quiz Start Time: 06:25 PM Time Left 88 sec(s)

Q3. of 20 ( Start time: 06:27:37 PM ) Total Marks: 1

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

Pakistan Penal Code

Criminal Procedure Code

Civil Law

Q4. of 20 ( Start time: 06:27:56 PM ) Total Marks: 1

A person who promises to compensate the loss in a contract of indemnity is called:

Indemnifier

Indemnified Indemnity holder Indemnity owner

Rights of Indemnifier

A Settled principle of law is that after compensating the loss to indemnity holder, indemnifier is entitled to all the ways and means by which person indemnified might have protected himself for the loss.

Q5. of 20 ( Start time: 06:28:47 PM ) Total Marks: 1

Each party to a contract is both promisor and promise in case of ___________.

Present consideration Reciprocal promises Valid contract

Past consideration

Q6. of 20 ( Start time: 06:29:36 PM ) Total Marks: 1

Section 126 of Contract Act provides that a contract of guarantee ___________.

May be oral May be written

May either be oral or written

Must be written

Contract of Guarantee has been defined in section 126 of a Contract Act which is reproduced below: “A contract of guarantee is a contract to perform the promise or discharge the liability of a third person in case of his default”. The person who gives the guarantee is called the “surety”; the person in respect of whose default the guarantee is given is called the “principal debtor”, and the person to whom the guarantee is given

Q7. of 20 ( Start time: 06:30:18 PM ) Total Marks: 1

Which section of Contract Act provides the test of soundness of mind to make a contract?

Section 12

Section 13 Section 14 Section 15 It has also been provided in section 12 that a person who is usually of sound mind but occasionally of unsound mind may not enter into a contract when he is of unsound mind.