Q.1)A contract by which one party promises to save another from loss caused to him by conduct of promisor himself or by conduct of any other person is called
a)Contract of guarantee b)Contract of indemnity c)Contract of bailment d)Contract of pledge
Q.2)What is correct regarding gratuitous bailment?
a)A person, who lends his articles or goods without any charge, is called a Gratuitous Bailor. b)It is the duty of a gratuitous bailor to disclose Known faults. c)A Gratuitous Bailment can be terminated by the bailor at any time even though the bailment was for a specified time or purpose. d)All of the above
Q.3)When can gratuitous bailment be terminated?
a)Death of bailor b)Death of bailee c)Death of either a or b d)Death of both a and b.
Q.4)Which of the following is true regarding creation of agency?
a)Consideration is essential for creation of agency b)Consideration is not the essential matter for creation of agency c)Adequate consideration is important for creation of agency d)None of the above
Q.5)Del credere agent is a kind of
a)Substituted agent b)Mercantile agent c)Universal agent d)Agent by necessity
Q.6)Which of the following mentioned rights is not available to an agent
a)Right to retain b)Right to claim compensation c)Right to sell d)None of the above
Q.7)In cases, where an agent contracts without disclosing name and existence of his principal, in such a case, knowing about the principal the third party may file a suit against
a)Only principal b)Only agent c)Either principal or agent or both d)None of the above
Q.8)Who among the following can appoint an agent?
a)Anyone can appoint an agent provided he/she is of sound mind b)Only major can appoint an agent irrespective of sound mind c)Minor only of sound mind d)Major only of sound mind
Q.9)In which of the following type of contract, there is not requirement of consideration?
a)Bailment b)Pledge c)Agency d)Partnership
Q.10)Which of the following correct regarding sub agent?
a)A sub-agent is appointed by an agent and as such is under the control of the agent. b)A sub-agent cannot ask for remuneration from the principal. c)No privity of contract exists between a principal and a sub-agent. d)All of the above
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