CMA Foundation Ch 2 Unit 5 Contingent Quiz 0 Created on December 01, 2023 By admin CMA Foundation Chapter 2 Unit 5 Contingent Contracts Quiz 1 1 / 20 A contract dependent on the happening or non-happening of future uncertain event, is a Contingent contract Uncertain contract Void contract Voidable contract. 2 / 20 A contract to do or not do something if some event, collateral to such contract, does or does not happen, is legally known as Uncertain contract Wagering agreement Contingent contract Voidable contract. 3 / 20 A agrees to pay Rs. 5,000 to B if B’s car is burnt. It is Void Voidable contract Wagering agreement Contingent contract. 4 / 20 A promises to pay Rs. 500 to B if it rains on the first Monday of next month. It is a Wagering agreement Contingent contract Void contract Voidable agreement. 5 / 20 The performance of a contingent contract becomes due only upon the happening or non- happening of future uncertain event. True False 6 / 20 A contingent contract is ____________ Void Voidable Illegal Valid 7 / 20 Legally, the term contingent contract is defined in Section 30 Section 31 Section 56 Section 68 8 / 20 Can the collateral event on which contingent contract is dependent,be an act of the party ? Yes No 9 / 20 A agrees to pay Rs.50,000 to B if he (B) marries C.It is A wagering agreement An uncertain contract A contingent contract A voidable contract 10 / 20 An uncertain event on the happening or non – happening of which the performance of a contingent contract depends, Must be an act of the party. Must not be an act of the parties. Must be some another independent event May be an act of the parties or some other independent event. 11 / 20 A agrees to purchase B’s horse for Rs.20,000,if the house prover a lucky.It is A contingent contract as its performance depends upon uncertain event i.e.,luck of the horse. Not a contingent contract as the event (i.e.,luck of the horse) is part of main contract. Void contract on account of uncertainty. Both (b) and (c). 12 / 20 Which of the following is not an essential requirement of a valid contingent contract? The performance must be conditional The event must be uncertain The event must form part of the contract The event must be independent or ancillary 13 / 20 A contract of insurance which provides that fixed amount of money shall be paid on the happening of the event e.g.,fire,accident etc.is a Contingent contract Wagering agreement Uncertain agreement None of these 14 / 20 Which of the following fall in the category of contingent contract ? Contracts of insurance Contracts of Guarantee Sale of goods on credit Both (a) and(b) 15 / 20 A contingent contract dependent on the happening of impossible event is ___________ Void Valid Voidable Illegal 16 / 20 A promises to pay Rs.5,000 to B if he (A) feel like to pay .This agreement is ________ Valid Voidable Void llegal 17 / 20 A contract dependent on the sole discretion or will of the promisor is An uncertain contract A contingent contract A forbidden contract A voidable contract 18 / 20 A contract of life insurance is a Contract of indemnity Contract of guarantee Wagering agreement None of these 19 / 20 A contract of the insurance which does not provide for the payment of fixed amount but according to the loss suffered by insured person,is a Contract of indemnity Contract of guarantee Wagering agreement None of these 20 / 20 Which of the following statements is correct ? Contingent contracts are void and thus not enforceable in the court of law. Contingent contracts are valid and thus are enforceable in the court of law. Contingent contracts are voidable and thus enforceable at the option of promisor. Contingent contracts fall in the category of wagering agreements. Your score isThe average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz 0 Created on December 01, 2023 By admin CMA Foundation Chapter 2 Unit 5 Contingent Contracts Quiz 2 1 / 22 A contingent contract dependent on the happening of future uncertain event can be enforced when that event Happens Becomes impossible Does not happen Both(a)and(c) 2 / 22 When the future uncertain event, on the happening of which the contract is dependent, becomes impossible then the contract becomes. __________ Valid Voidable Void None of these 3 / 22 A agrees to pay Rs. 10,000 B if a certain ship does not return. If the ship returns, then the contract becomes Void Valid Voidable Illegal 4 / 22 A agrees to pay Rs. 10,000 B if a certain ship does not return. This is a contingent contract and can be enforced when the ship. Returns Sinks Does not sink Both (a) and (c). 5 / 22 A contingent contract dependent on the non- happening of future uncertain event becomes void when such event Happens Does not become impossible Does not happen Both (a) and (b). 6 / 22 A contingent contract dependent on the non- happening of future uncertain event can be enforced when that event. Happens Becomes impossible Does not become impossible Both (a) and (c). 7 / 22 A contracts to pay Rs. 50,000 to B if the (B) marries C. But C dies before marriage. The contract between A and B. Cannot be enforced Can be enforced at the option of A Can be enforced if B marries C’s sister Can be enforced at the option of B. 8 / 22 A agrees to pay Rs. 10,000 to B if a certain ship does not return within a year. The ship sinks before the expiry of the year. The contract becomes. Enforceable Non-Enforceable Void Voidable 9 / 22 A continent contract dependent on the non- happening of future uncertain event within fixed time, can be enforced if such event Happens within the fixed time. Does not happen within the fixed time. Happening becomes impossible before the expiry of fixed time. Both (b) and (c). 10 / 22 A agrees to pay Rs. 10,000 to B if a certain ship return within a year. The ship sinks within the year. In this case, the contact becomes Valid Void Voidable Illegal 11 / 22 A contingent contract dependent on the happening of future uncertain event within fixed time, becomes void when such event Happens within the fixed event Does not happen within the fixed time. Becomes impossible before the expiry of fixed time. Both (b) and (c). 12 / 22 A contingent contract dependent on the happening of future uncertain event within the fixed time, cab be enforced when that event Does not happen within the fixed time. Becomes impossible before the expiry of fixed time. Happens within the fixed time. Happens after the expiry of fixed time. 13 / 22 A agrees to pay Rs. Two lakh to B if he brings on earth a star from sky. This contingent contract is Void Voidable Valid Illegal 14 / 22 A agrees to pay Rs. Two lakh to B if he brings on earth a star from sky. This contingent contract is Void Voidable Valid Illegal 15 / 22 A contingent contract dependent on the happening of impossible event, is _____________ Void Voidable Valid Illegal 16 / 22 A agrees to pay Rs. 10,000 to B if a certain ship does not return within a year. If the ship arrives after one year, then the contract becomes Enforceable Voidable Void Illegal 17 / 22 A agrees to pay Rs. 10,000 to B if a certain ship does not return within a year. If the ship returns within the year, then the contract becomes Enforceable Voidable Void Illegal 18 / 22 A contingent contract becomes____________ when the future uncertain event, on the happening of which the contract is dependent, becomes impossible. Valid Voidable Illegal Void 19 / 22 An uncertain event on which performance of a contingent contract depends ________ an act of the party to the contract. Must be Must not be May be Always be 20 / 22 A contingent contract is ________ under the Indian Contract Act. Valid Void Voidable Illegal 21 / 22 A _____ is one which is dependent on the happening or non-happening of future uncertain event. Uncertain contract Contingent contract Wagering agreement Quasi – contract 22 / 22 A agrees to pay Rs. Two lakh to B if he brings on earth a star from sky. This contingent contract is Void Voidable Valid Illegal Your score isThe average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz
