Contract Law (CLAT (Common Law Admission Test) Legal-Aptitude): Questions 48 - 49 of 97

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Question number: 48

» Contract Law

Assertion-Reason▾

Assertion (Ꭺ)

Mihir contracted with his friend saying that his friend would give him ten thousand dollars if it rained on Monday. On Monday, it actually rained. This contingent contract is enforceable.

Reason (Ꭱ)

Contingent contracts are contracts to do or not to do something, if some event,

collateral to such contracts, does or does not happen.

Choices

Choice (4) Response

a.

Ꭺ is false but Ꭱ is true

b.

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

c.

Ꭺ is true but Ꭱ is false

d.

Both Ꭺ and Ꭱ are false

Question number: 49

» Contract Law

MCQ▾

Question

Which of the following is incorrect for reciprocal promises?

Choices

Choice (4) Response

a.

When a contract consists of reciprocal promises to be simultaneously performed, no promisor need perform his promise unless the promisee is ready and willing to perform his reciprocal promise.

b.

Where the order in which reciprocal promises are to be performed is expressly fixed by the contract, they shall be performed in that order, and where the orders is not expressly fixed by the contract, they shall be performed in that order which is agreeable to both parties.

c.

When a contract contains reciprocal promises and one party to the contract prevents the other from performing his promise, the contract becomes voidable at the option of the party so prevented; and he is entitled to compensation from the other party for any loss which he may sustain in consequence of the non-performance of the contract.

d.

Question does not provide sufficient data or is vague

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