1.
Under Section 2(f) of the Indian Contract Act, promises which constitute the consideration (wholly or in part) for one another are known as:
(a) Mutual agreements
(b) Consideration itself
(c) Acceptances to separate proposals
(d) Reciprocal promises
2.
As per Section 2(d), when an act, abstinence, or promise is made at the desire of the promisor by the promisee or any other person, it is termed as:
(a) Acceptance
(b) Counter-proposal
(c) Reciprocal undertaking
(d) Consideration for the promise
3.
Once a proposal receives valid acceptance, it legally transforms into a:
(a) Contract under Section 2(h)
(b) Agreement under Section 2(e)
(c) Promise as defined under Section 2(b)
(d) Mere offer
4.
According to Section 2(b), when the person to whom an offer is made communicates his consent, the proposal is said to be:
(a) Tentatively accepted
(b) Provisionally agreed
(c) Accepted
(d) Negotiated
5.
Which of the following best describes an “offer” under Section 2(a) of the Indian Contract Act?
(a) A formal communication between two persons
(b) A general suggestion made to another person
(c) An expression of willingness to do or abstain from doing something to obtain the assent of another
(d) A completed agreement
6.
The term “void agreement” refers to an agreement which is:
(a) Against public policy
(b) Procedurally defective
(c) Illegal by nature
(d) Not enforceable by law
7.
An agreement that lacks enforceability in the eyes of law is declared void under which provision of the Indian Contract Act?
(a) Section 2(e)
(b) Section 2(d)
(c) Section 2(f)
(d) Section 2(g)
8.
What is the correct legal term for promises that serve as consideration for one another?
(a) Conditional promises
(b) Cross proposals
(c) Conditional offers
(d) Reciprocal promises
9.
Every promise or set of promises that forms consideration for each other amounts to an:
(a) Offer
(b) Contract
(c) Acceptance
(d) Agreement
10.
An agreement that is legally binding and enforceable by a court of law is called a:
(a) Accepted offer
(b) Approved promise
(c) Enforceable acceptance
(d) Contract