Business Law MCQ on Contingent Contract and Quasi Contracts: Check the below Business Law MCQ on Contingent Contract and Quasi Contracts with Answers Pdf free download. Business Law MCQ on Contingent Contract and Quasi Contracts Questions for Business Law with Answers were prepared based on the latest exam pattern. We have provided Business Law MCQ on Contingent Contract and Quasi Contracts with Answers to help students understand the concept very well.

Business Law MCQ on Contingent Contract and Quasi Contracts

1. Which one of the following is not an essential feature of a wagering agreement?
(a) Insurable interest
(b) Uncertain event
(c) Mutual chances of gain or loss
(d) Neither party to have control over the event

2. Contingent contract to do or not to do anything, if an impossible event happens are:
(a) Valid
(b) Void
(c) Voidable
(d) Illegal

3. A makes a contract with B to buy B’s horse if A survives C. This is _________.
(a) a Quasi-contract
(b) a Void contract
(c) a Contingent contract
(d) a Conditional contract

4. Contingent contract dependent on the non-happening of the event within a fixed time can be enforced, if the event:
(a) Does not happen within the fixed time
(b) Before the time fixed such event becomes impossible
(c) Both (a) & (b)
(d) None of the above

5. An insurance contract is _________.
(a) Contingent contract
(b) Wagering agreement
(c) Unenforceable contract
(d) Void contract

6. In a contingent contract which event is contingent _________.
(a) Main event
(b) Collateral event
(c) Both (a) & (b)
(d) None of the above.

7. If the contingent depends on the mere will of the promisor it would be _________.
(a) Valid
(b) Void
(c) Illegal
(d) Depends on the circumstances

8. Under section 70 of the Indian Contract Act, 1872, if a person who enjoys the benefit of any other person’s work, the beneficiary must pay to the benefactor for the services rendered, provided the intention of the benefactor was:
(a) Gratuitous
(b) Non-gratuitous
(c) To create legal relations
(d) None of these

9. A contract of life insurance, the performance of which depends upon a future event falls under the category of _________.
(a) Contract of Indemnity
(b) Contract of Guarantee
(c) Contingent Contract
(d) Special type of Contract

10. A finder of goods can:
(a) file a suit to recover his expenses,
(b) sell the goods if he likes
(c) can sue for a reward, if any
(d) None of the above

11. Contract contingent upon the happening of a future uncertain event becomes void.
(a) If the event becomes impossible
(b) If the event happens
(c) If the event does not happen
(d) None of the above

12. A finder of goods can sell the goods if the cost of finding the true owner exceeds:
(a) 1/4 of the value of the goods
(b) 1/3 of the value of the goods
(c) 1/2 of the value of the goods
(d) 2/3 of the value of the goods

13. Contract contingent upon the non-happening of the future uncertain event becomes enforceable _________.
(a) When the happening of that event becomes impossible and not before
(b) When the happening of that event becomes possible and not before
(c) When the event happens
(d) None of the above

14. A finder can sell the goods if:
(a) the goods are ascertained
(b) the goods are un-ascertained
(c) the goods are valuable
(d) the goods are perishable

15. A promises to pay B a sum of money if a certain ship does not return within a year. The ship is sunk within a year. The contract is _________.
(a) Enforceable
(b) Void
(c) Voidable
(d) Illegal

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By Team Learning Mantras