201. A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them.  a. Commercial agent  b. Factor  c. Broker  d. Commission agent  Ans.b 202. Which […]

151. Bailment is a special kind of contract that is widely used in business and in:  a) Personal affairs   b) Cultural activities  c) Academic research  d) Charitable institution  Ans.a 152. A transaction […]

101. The communication of a proposal is complete when it comes to   (a) The knowledge of that person  (b) The object of the offer  (c) The intention with which offer is made  […]

51. When one party’s consent has been caused as a result of mistake of fact, the contract is: (a) Voidable (b) Void (c) Valid, and not voidable or void (d) Unlawful and […]

1. The Indian Contract Act came into force on:  (a) 15th September, 1872  (b) 1st September, 1872  (c) 1st October, 1872  (d) 15th October, 1872.  Ans.b 2. The Indian Contract Act, applies […]