Topics of Law Test 49

Result

Topics of Law Test 49

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

If no time is specified for performance of a contract, it must be performed within a reasonable time. Reasonable time means _____.

A
Which seems reasonable to the, promisee

B
Which seems reasonable to the promisor

C
Which is reasonable under the facts and circumstance of the case

D
Which is determined as reasonable by some third party

Solution

Section 46-50 of the Indian Contract Act, 1872 talks about the Time and Place of Performance of contract. If no time is mentioned in the contract, then it is assumed that it will be done in a reasonable time. That means the time would depend on the circumstance and the facts of the case. The time will differ from one case to the other since it takes different time periods for finishing different kinds of projects.
Question 2
1 / -0

Finder of goods is treated as _______.

A
Owner against whole world

B
Owner if incurs more than 1/3rd expenses of the value of goods found

C
Owner against whole world except true owner

D
Owner against the true world
Question 3
1 / -0

The debt due may be principal and interest. In such a case, if debtor makes part payment, then ________.

A
payment should be appropriated towards interest

B
payment should be appropriated towards principal

C
payment should be appropriated towards principal and alter principal is fully paid off, to interest

D
payment should be first appropriated towards interest and alter interest is fully paid off, to principal

Solution

Section 128 of the Indian Contract Act, 1872 deals with 'Surety's liability'. It states, The liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract. —The liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract." Illustration A guarantees to B the payment of a bill of exchange by C, the acceptor. The bill is dishonoured by C. A is liable, not only for the amount of the bill, but also for any interest and charges which may have become due on it. A guarantees to B the payment of a bill of exchange by C, the acceptor. The bill is dishonoured by C. A is liable, not only for the amount of the bill, but also for any interest and charges which may have become due on it."
Question 4
1 / -0

In contract of sale of movable properties, time is _____.

A
Not presumed to be essence of the contract

B
Presumed to be the essence of the contract

C
No presumption as to time be raised

D
All of the above
Question 5
1 / -0

In contract of sale of immovable properties, time is ______.

A
Not presumed to be essence of the contract

B
Presumed to be the essence of the contract

C
No presumption as to time be raised

D
All of the above

Solution

Section 55 of Indian Contract Law, 1872 states that, "When a party to a contract promises to do a certain thing at or before a specified time, or certain things at or before specified times, and fails to do any such thing at or before the specified time, the contract, or so much of it as has not been performed, becomes voidable at the option of the promisee, if the intention of the parties was that time should be of the essence of the contract.”
In case of immovable properties, time is not an essence in the contract of sale but should be done in a reasonable time for their own benefit.
Question 6
1 / -0

Where the debtor has omitted to intimate, and there are no other circumstances indicating to which debt the payment is to be applied, the creditor ______.

A
may apply it at his discretion to any lawful debt actually due and payable to him from the debtor

B
may apply it at his discretion to any time barred debt

C
either (A) or (B)

D
(A) only but not (B)

Solution

Section 60 of The Indian Contract Law, 1872 talks about Application of payment where debt to be discharged is not indicated. It mentions that, "Where the debtor has omitted to intimate, and there are no other circumstances indicating to which debt the payment is to be applied, the creditor may apply it at his discretion to any lawful debt actually due and payable to him from the debtor, whether its recovery is or is not barred by the law in force for the time being as to the limitations of suits.'
Question 7
1 / -0

Reasonable time for performance of a contract is a _____.

A
Question of law

B
Question of fact

C
Mixed question of fact and law

D
Question of prudence
Question 8
1 / -0

Where the debtor has omitted to intimate, and there are no other circumstances indicating to which debt the payment is to be applied, the creditor ______.

A
Must apply it to the last debt

B
Must apply it to the first debt

C
May apply it to disputed debt

D
May apply it at his discretion to any lawful debt actually due and payable to him from the debtor

Solution

Section 60 of The Indian Contract Law, 1872 talks about Application of payment where debt to be discharged is not indicated. It mentions that, "Where the debtor has omitted to intimate, and there are no other circumstances indicating to which debt the payment is to be applied, the creditor may apply it at his discretion to any lawful debt actually due and payable to him from the debtor, whether its recovery is or is not barred by the law in force for the time being as to the limitations of suits.'
Question 9
1 / -0

X owes to Y among the other debts, a sum of Rs. 53,260. Y sends e-mail to X demanding payment of Rs. 53,260. X gives the cash. Y should apply this payment in discharge of _____.

A
Any debt due from X

B
The debts which Y demanded

C
Any disputed debt due from X

D
Any debt which Y has not demanded

Solution

Section 59 of the Indian Contract Act, 1872 deals with Application of payment where debt to be discharged is indicated. Here, Y indicated in the email sent to Y where he demands payment for the sum of Rs. 53,260 among the other debts. Hence, on an acknowledgement of the cash received from X, Y should apply for this payment in discharge of the particular debt which Y demanded.
Question 10
1 / -0

It is the duty of finder of goods to return the goods to true owner, otherwise finder is guilty of ______

A
Criminal misappropriation of goods

B
Theft

C
Extortion

D
None of the above

Solution

According to Section 71, Indian Contract Law, 1872, "Responsibility of finder of goods.—A person who finds goods belonging to another, and takes them into his custody, is subject to the same responsibility as a bailee. and Section 154, Indian Contract Law, 1872, "Liability of bailee making unauthorised use of goods bailed.—If the bailee makes any use of the goods bailed which is not according to the conditions of the bailment, he is liable to make compensation to the bailor for any damage arising to the goods from or during such use of them. —If the bailee makes any use of the goods bailed which is not according to the conditions of the bailment, he is liable to make compensation to the bailor for any damage arising to the goods from or during such use of them.", the finder will be guilty to break the law due to criminal misappropriation of goods.

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Topics of Law Test 49

Result

Topics of Law Test 49

Score

-

Rank

-

SHARING IS CARING

Question 1

Which seems reasonable to the, promisee

Which seems reasonable to the promisor

Which is reasonable under the facts and circumstance of the case

Which is determined as reasonable by some third party

Solution

Question 2

Owner against whole world

Owner if incurs more than 1/3rd expenses of the value of goods found

Owner against whole world except true owner

Owner against the true world

Question 3

payment should be appropriated towards interest

payment should be appropriated towards principal

payment should be appropriated towards principal and alter principal is fully paid off, to interest

payment should be first appropriated towards interest and alter interest is fully paid off, to principal

Solution

Question 4

Not presumed to be essence of the contract

Presumed to be the essence of the contract

No presumption as to time be raised

All of the above

Question 5

Not presumed to be essence of the contract

Presumed to be the essence of the contract

No presumption as to time be raised

All of the above

Solution

Question 6

may apply it at his discretion to any lawful debt actually due and payable to him from the debtor

may apply it at his discretion to any time barred debt

either (A) or (B)

(A) only but not (B)

Solution

Question 7

Question of law

Question of fact

Mixed question of fact and law

Question of prudence

Question 8

Must apply it to the last debt

Must apply it to the first debt

May apply it to disputed debt

May apply it at his discretion to any lawful debt actually due and payable to him from the debtor

Solution

Question 9

Any debt due from X

The debts which Y demanded

Any disputed debt due from X

Any debt which Y has not demanded

Solution

Question 10

Criminal misappropriation of goods

Theft

Extortion

None of the above

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.