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Fundamental Of Business Law and Business Communication MCQ - Fundamental of Law Section 2

21 The circumstances in which the creditor must make a disclosure to the proposed surety are:
I. Where the surety has asked specific questions to the creditor
II. Where the bank misleads the surety by volunteering only part of the truth
III. Where the surety makes a statement in the creditor’s presence that demonstrates that he entirely misunderstands the principal debtor's position
IV. Where there is anything that might not naturally be expected to take place between the principal-debtor and the creditor

22 The conditions which entitle an agent to exceed his authority under the doctrine of necessity are:

23 The consideration for a family arrangement may be the preservation of family property, preservation of peace and honor of the family or the avoidance of litigation; or avoiding the possibility of a future dispute. In which of the following cases it was held?

24 The creditor may file a suit at his option only against the surety. In which of the following cases it was upheld?

25 The decisions of the expert or technical or commercial committees in scrutinizing the tenders under Section 10 of the Indian Contract Act, 1872 will not be interfered unless:

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Question:

What are the requisites of the contract of sale:

A. An Offer and delivery of goods
B. An Offer to buy or sell goods, for a price and its acceptance
C. An Offer, delivery, possession, and acceptance
D. An Offer, price, delivery, and acceptance

Correct answer: C

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