Q.1)Which of the following provision under Indian Contract Act governs bailment by several joint owners?
a)Section 162 b)Section 163 c)Section 164 d)Section 165
Q.2)A contract between insurance company and vehicle owner to save later form consequences of a vehicular accident is a contract of
a)Guarantee b)Surety c)Bailment d)Indemnity
Q.3)Contract of insurance is a contract of
a)Guarantee b)Indemnity c)Bailment d)Quasi-contract
Q.4)A and B goes into the restaurant. B says to the manager let him have his meal, I will ensure that you are paid. This is a contract of :
a)Guarantee b)Bailment c)Indemnity d)Pledge
Q.5)In case of guarantee, the liability of surety is :
a)Primary as compare to principal debtor b)Secondary as compare to principal debtor c)Co-extensive with that of the principal debtor d)All of the above
Q.6)In a contract of guarantee, the person whom the guarantee is given is called
a)Surety b)Principal debtor c)Creditor d)None of the above
Q.7)Which provision of the Indian contract Act talks about Surety’s right to benefit of creditor’s securities.
a)Section 126 b)Section 141 c)Section 127 d)Section 142
Q.8)Which of the following is correct with respect to contract of guarantee
a)May be in writing b)May be oral c)Both a and b d)Neither a nor b
Q.9)Which provision of Indian Contract Act specifies that it is the bailor’s duty to disclose faults in goods bailed?
a)Section 149 b)Section 150 c)Section 151 d)Section 152
Q.10)What is continuing guarantee?
a)A guarantee which covers transaction within a fixed period of time and it comes to an end when the liability under that transaction ends b)Guarantee for a series of transactions c)Guarantee which extends to single transaction for a long period of time d)None of the above
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