Indian Contract Act, 1872 : Consideration
This test has a total of 100 questions and total time of 60 minutes. Please make sure you have read instructions about user interface by clicking here – Detailed Instructions.
After attempting all questions, click on Quiz Summary then Click Finish Quiz to Submit the test.
Before you appear for this test make sure you have studied the following sub-topics under chapter Meaning and Scope of Accounting.
Quiz-summary
0 of 100 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
- 53
- 54
- 55
- 56
- 57
- 58
- 59
- 60
- 61
- 62
- 63
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73
- 74
- 75
- 76
- 77
- 78
- 79
- 80
- 81
- 82
- 83
- 84
- 85
- 86
- 87
- 88
- 89
- 90
- 91
- 92
- 93
- 94
- 95
- 96
- 97
- 98
- 99
- 100
Information
♦ The concept of consideration, its importance for a contract and its double aspect.
♦ How consideration may move from a third party and how this makes the contract valid.
♦ The peculiar circumstances when a contract is valid even without consideration.
♦ The rule ‘A stranger to a contract cannot sue’ and exceptions thereof.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 100 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Average score |
|
Your score |
|
Categories
- Not categorized 0%
Pos. | Name | Entered on | Points | Result |
---|---|---|---|---|
Table is loading | ||||
No data available | ||||
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
- 53
- 54
- 55
- 56
- 57
- 58
- 59
- 60
- 61
- 62
- 63
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73
- 74
- 75
- 76
- 77
- 78
- 79
- 80
- 81
- 82
- 83
- 84
- 85
- 86
- 87
- 88
- 89
- 90
- 91
- 92
- 93
- 94
- 95
- 96
- 97
- 98
- 99
- 100
- Answered
- Review
-
Question 1 of 100
1. Question
1 pointsWhat is the legal definition of consideration as per the Indian Contract Act, 1872?
Correct
Incorrect
-
Question 2 of 100
2. Question
1 pointsConsideration in a contract is essential because:
Correct
Incorrect
-
Question 3 of 100
3. Question
1 pointsWhich case is popularly used to define consideration in law?
Correct
Incorrect
-
Question 4 of 100
4. Question
1 pointsWhich of the following is NOT a form of consideration?
Correct
Incorrect
-
Question 5 of 100
5. Question
1 pointsIn which of the following cases will the contract still be valid despite the absence of consideration?
Correct
Incorrect
-
Question 6 of 100
6. Question
1 pointsWhich statement is true about past consideration?
Correct
Incorrect
-
Question 7 of 100
7. Question
1 pointsWhich case illustrates the concept that consideration may move from a third party?
Correct
Incorrect
-
Question 8 of 100
8. Question
1 pointsThe rule “no consideration, no contract” has exceptions, including:
Correct
Incorrect
-
Question 9 of 100
9. Question
1 pointsWhich of the following must be present for an agreement based on natural love and affection to be valid without consideration?
Correct
Incorrect
-
Question 10 of 100
10. Question
1 pointsWhich of the following best describes “executory consideration”?
Correct
Incorrect
-
Question 11 of 100
11. Question
1 pointsThe phrase ‘something in return’ in relation to consideration refers to:
Correct
Incorrect
-
Question 12 of 100
12. Question
1 pointsConsideration must be:
Correct
Incorrect
-
Question 13 of 100
13. Question
1 pointsIn which situation would the performance of a legal duty not be valid consideration?
Correct
Incorrect
-
Question 14 of 100
14. Question
1 pointsA promise to pay for a timebarred debt under the Limitation Act is:
Correct
Incorrect
-
Question 15 of 100
15. Question
1 pointsConsideration must move at the desire of:
Correct
Incorrect
-
Question 16 of 100
16. Question
1 pointsWhich of the following is an example of abstinence as consideration?
Correct
Incorrect
-
Question 17 of 100
17. Question
1 pointsWhich of the following is not a legal rule regarding valid consideration?
Correct
Incorrect
-
Question 18 of 100
18. Question
1 pointsWhat is the significance of the case Durga Prasad v. Baldeo?
Correct
Incorrect
-
Question 19 of 100
19. Question
1 pointsIn which situation is a contract valid without consideration?
Correct
Incorrect
-
Question 20 of 100
20. Question
1 pointsWhich of the following examples involves past consideration?
Correct
Incorrect
-
Question 21 of 100
21. Question
1 pointsConsideration need not be:
Correct
Incorrect
-
Question 22 of 100
22. Question
1 pointsWhich of the following is an example of valid consideration?
Correct
Incorrect
-
Question 23 of 100
23. Question
1 pointsIn the case of a completed gift:
Correct
Incorrect
-
Question 24 of 100
24. Question
1 pointsWhich legal rule allows third parties to enforce certain contracts?
Correct
Incorrect
-
Question 25 of 100
25. Question
1 pointsAn agreement without consideration is:
Correct
Incorrect
-
Question 26 of 100
26. Question
1 pointsWhat is a key element of consideration under the Indian Contract Act, 1872?
Correct
Incorrect
-
Question 27 of 100
27. Question
1 pointsAccording to the Indian Contract Act, 1872, consideration can be:
Correct
Incorrect
-
Question 28 of 100
28. Question
1 pointsWhich of the following examples demonstrates abstinence as consideration?
Correct
Incorrect
-
Question 29 of 100
29. Question
1 pointsWhich legal case affirmed that an act done at the desire of a third party is not valid consideration?
Correct
Incorrect
-
Question 30 of 100
30. Question
1 pointsConsideration that consists in the performance of an act is known as:
Correct
Incorrect
-
Question 31 of 100
31. Question
1 pointsWhich of the following is NOT a legal rule regarding valid consideration?
Correct
Incorrect
-
Question 32 of 100
32. Question
1 pointsIn the case of Chinnayya vs. Ramayya, the court held that:
Correct
Incorrect
-
Question 33 of 100
33. Question
1 pointsAccording to the Indian Contract Act, consideration must not be:
Correct
Incorrect
-
Question 34 of 100
34. Question
1 pointsIn which of the following scenarios will the absence of consideration still result in a valid contract?
Correct
Incorrect
-
Question 35 of 100
35. Question
1 pointsWhich of the following is NOT an exception to the rule “No consideration, no contract”?
Correct
Incorrect
-
Question 36 of 100
36. Question
1 pointsConsideration is defined in the Indian Contract Act, 1872 under which section?
Correct
Incorrect
-
Question 37 of 100
37. Question
1 pointsAccording to the Indian Contract Act, 1872, a contract without consideration is:
Correct
Incorrect
-
Question 38 of 100
38. Question
1 pointsWhat does the doctrine of privity of contract state?
Correct
Incorrect
-
Question 39 of 100
39. Question
1 pointsWhich of the following is an example of an enforceable contract involving a third party?
Correct
Incorrect
-
Question 40 of 100
40. Question
1 pointsIn which scenario can a family member enforce an agreement despite not being a party to the contract?
Correct
Incorrect
-
Question 41 of 100
41. Question
1 pointsA promise made to pay for services already rendered at the request of the promisor is considered:
Correct
Incorrect
-
Question 42 of 100
42. Question
1 pointsInadequacy of consideration may be taken into account when:
Correct
Incorrect
-
Question 43 of 100
43. Question
1 pointsThe performance of what one is legally bound to perform:
Correct
Incorrect
-
Question 44 of 100
44. Question
1 pointsWhich example demonstrates ‘illusory consideration’?
Correct
Incorrect
-
Question 45 of 100
45. Question
1 pointsWhich of the following examples would result in a valid contract without consideration under the Indian Contract Act?
Correct
Incorrect
-
Question 46 of 100
46. Question
1 pointsA promise to pay for past voluntary services is enforceable when:
Correct
Incorrect
-
Question 47 of 100
47. Question
1 pointsAccording to the Indian Contract Act, which of the following is NOT valid consideration?
Correct
Incorrect
-
Question 48 of 100
48. Question
1 pointsA written promise made to pay for a debt barred by limitation is enforceable if:
Correct
Incorrect
-
Question 49 of 100
49. Question
1 pointsWhich of the following conditions is necessary for an agreement based on natural love and affection to be valid without consideration?
Correct
Incorrect
-
Question 50 of 100
50. Question
1 pointsAn agreement without consideration is valid in the case of:
Correct
Incorrect
-
Question 51 of 100
51. Question
1 pointsWhich of the following describes an ‘executory consideration’?
Correct
Incorrect
-
Question 52 of 100
52. Question
1 pointsWhat does the rule ‘No consideration, no contract’ imply?
Correct
Incorrect
-
Question 53 of 100
53. Question
1 pointsA promise to not open a business near a competitor’s shop in exchange for payment is an example of:
Correct
Incorrect
-
Question 54 of 100
54. Question
1 pointsIn which situation is a promise made without consideration valid?
Correct
Incorrect
-
Question 55 of 100
55. Question
1 pointsWhich of the following is a valid example of consideration moving from a third party?
Correct
Incorrect
-
Question 56 of 100
56. Question
1 pointsWhich of the following cases confirms that consideration may move from a third party?
Correct
Incorrect
-
Question 57 of 100
57. Question
1 pointsWhat is the significance of the case *Durga Prasad v. Baldeo*?
Correct
Incorrect
-
Question 58 of 100
58. Question
1 pointsUnder the Indian Contract Act, 1872, which of the following would be considered past consideration?
Correct
Incorrect
-
Question 59 of 100
59. Question
1 pointsWhich of the following is NOT considered valid consideration under the Indian Contract Act, 1872?
Correct
Incorrect
-
Question 60 of 100
60. Question
1 pointsA contract without consideration is void under Section 25, except when it involves:
Correct
Incorrect
-
Question 61 of 100
61. Question
1 pointsWhich of the following is a key characteristic of ‘real consideration’ under the Indian Contract Act, 1872?
Correct
Incorrect
-
Question 62 of 100
62. Question
1 pointsIn which situation is ‘inadequacy of consideration’ considered relevant in a contract?
Correct
Incorrect
-
Question 63 of 100
63. Question
1 pointsAccording to the Indian Contract Act, consideration must not be:
Correct
Incorrect
-
Question 64 of 100
64. Question
1 pointsIn which of the following scenarios will the absence of consideration still result in a valid contract?
Correct
Incorrect
-
Question 65 of 100
65. Question
1 pointsWhich of the following is NOT an exception to the rule ‘No consideration, no contract’?
Correct
Incorrect
-
Question 66 of 100
66. Question
1 pointsConsideration is defined in the Indian Contract Act, 1872 under which section?
Correct
Incorrect
-
Question 67 of 100
67. Question
1 pointsAccording to the Indian Contract Act, 1872, a contract without consideration is:
Correct
Incorrect
-
Question 68 of 100
68. Question
1 pointsWhat does the doctrine of privity of contract state?
Correct
Incorrect
-
Question 69 of 100
69. Question
1 pointsWhich of the following is an example of an enforceable contract involving a third party?
Correct
Incorrect
-
Question 70 of 100
70. Question
1 pointsIn which scenario can a family member enforce an agreement despite not being a party to the contract?
Correct
Incorrect
-
Question 71 of 100
71. Question
1 pointsA promise made to pay for services already rendered at the request of the promisor is considered:
Correct
Incorrect
-
Question 72 of 100
72. Question
1 pointsInadequacy of consideration may be taken into account when:
Correct
Incorrect
-
Question 73 of 100
73. Question
1 pointsThe performance of what one is legally bound to perform:
Correct
Incorrect
-
Question 74 of 100
74. Question
1 pointsWhich example demonstrates ‘illusory consideration’?
Correct
Incorrect
-
Question 75 of 100
75. Question
1 pointsWhich of the following examples would result in a valid contract without consideration under the Indian Contract Act?
Correct
Incorrect
-
Question 76 of 100
76. Question
1 pointsA promise to pay for past voluntary services is enforceable when:
Correct
Incorrect
-
Question 77 of 100
77. Question
1 pointsAccording to the Indian Contract Act, which of the following is NOT valid consideration?
Correct
Incorrect
-
Question 78 of 100
78. Question
1 pointsA written promise made to pay for a debt barred by limitation is enforceable if:
Correct
Incorrect
-
Question 79 of 100
79. Question
1 pointsWhich of the following conditions is necessary for an agreement based on natural love and affection to be valid without consideration?
Correct
Incorrect
-
Question 80 of 100
80. Question
1 pointsAn agreement without consideration is valid in the case of:
Correct
Incorrect
-
Question 81 of 100
81. Question
1 pointsWhich of the following describes an ‘executory consideration’?
Correct
Incorrect
-
Question 82 of 100
82. Question
1 pointsWhat does the rule ‘No consideration, no contract’ imply?
Correct
Incorrect
-
Question 83 of 100
83. Question
1 pointsAccording to the Indian Contract Act, consideration must be:
Correct
Incorrect
-
Question 84 of 100
84. Question
1 pointsWhich of the following is NOT a requirement for valid consideration?
Correct
Incorrect
-
Question 85 of 100
85. Question
1 pointsWhich of the following can be considered a valid consideration?
Correct
Incorrect
-
Question 86 of 100
86. Question
1 pointsWhich of the following is an example of past consideration?
Correct
Incorrect
-
Question 87 of 100
87. Question
1 pointsWhich of the following is NOT a valid consideration under the Indian Contract Act?
Correct
Incorrect
-
Question 88 of 100
88. Question
1 pointsA contract without consideration is void under Section 25, except when it involves:
Correct
Incorrect
-
Question 89 of 100
89. Question
1 pointsWhich of the following is a key characteristic of ‘real consideration’ under the Indian Contract Act?
Correct
Incorrect
-
Question 90 of 100
90. Question
1 pointsIn which situation is ‘inadequacy of consideration’ considered relevant in a contract?
Correct
Incorrect
-
Question 91 of 100
91. Question
1 pointsAccording to the Indian Contract Act, which of the following is NOT a requirement for valid consideration?
Correct
Incorrect
-
Question 92 of 100
92. Question
1 pointsWhich of the following can be considered a valid consideration?
Correct
Incorrect
-
Question 93 of 100
93. Question
1 pointsWhich of the following is an example of past consideration?
Correct
Incorrect
-
Question 94 of 100
94. Question
1 pointsWhich of the following is NOT a valid consideration under the Indian Contract Act?
Correct
Incorrect
-
Question 95 of 100
95. Question
1 pointsA contract without consideration is void under Section 25, except when it involves:
Correct
Incorrect
-
Question 96 of 100
96. Question
1 pointsWhich of the following is a key characteristic of ‘real consideration’ under the Indian Contract Act, 1872?
Correct
Incorrect
-
Question 97 of 100
97. Question
1 pointsIn which situation is ‘inadequacy of consideration’ considered relevant in a contract?
Correct
Incorrect
-
Question 98 of 100
98. Question
1 pointsAccording to the Indian Contract Act, which of the following is NOT a requirement for valid consideration?
Correct
Incorrect
-
Question 99 of 100
99. Question
1 pointsWhich of the following can be considered a valid consideration?
Correct
Incorrect
-
Question 100 of 100
100. Question
1 pointsWhich of the following is an example of past consideration?
Correct
Incorrect