Contract Law (CLAT Legal-Aptitude): Questions 45 - 47 of 97

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Question number: 45

» Contract Law

MCQ▾

Question

Which of the following correctly defines “pledge”?

Choices

Choice (4) Response

a.

It is the delivery of goods from one person to the other for payment of a debt.

b.

It is the mortgaging of goods for the performance of a contract or debt payment.

c.

It is the bailment of goods as security for performance of a promise or payment of debt.

d.

All of the above

Question number: 46

» Contract Law

MCQ▾

Question

Which of the following does not work to terminate the agency of an agent?

Choices

Choice (4) Response

a.

The becoming of unsound mind of the principal

b.

The commission of fraudulent act on the part of agent

c.

The completion of the business of the agency

d.

The adjudication of the principal as an insolvent under any Act

Question number: 47

» Contract Law

Assertion-Reason▾

Assertion (Ꭺ)

If A offers to sell a horse which is of unsound mind but which he knows to be of sound mind to B and B accepts the contracting being under the impression that he is being sold a donkey, the agreement is voidable.

Reason (Ꭱ)

A contract is not voidable merely because it was caused by one of the parties to it being under a mistake as to a matter of fact.

Choices

Choice (4) Response

a.

Ꭺ is true but Ꭱ is false

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Both Ꭺ and Ꭱ are false

d.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

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