Business Law Mcq - 1009 Words

Answers are highlighted in yellow. Application Exercise BLaw Assignment #2 Time : 15 Min. Max. Marks- 15 Q. 1. In the following questions choose the most appropriate answer. . 1. One cannot plead doctrine of frustration for one’s own inaction a. True b. False c. Partly true d. Partly false 2. ‘A’ contracts to take in cargo for B at a foreign port. Later, A’s government declares war against the country in which the port is situated. The contract- e. Is void ab initio f. Bocomes void g. Is valid h. Is voidable at B’s†¦show more content†¦A agreed to supply certain goods at a specified price to B. As a result of an increase in raw material prices and labour costs, it is no longer profitable for A to supply them at the agreed price. In this case- . Contract becomes void . A cannot be excused for non-performance . Contract gets frustrated . Contract is voidable at the option of A 17. A quasi contract . is an agreement . is a contract . has only a legal obligation . is not any of the above 18. Quasi contracts are based on the principle of . self service . service to others . there cannot be unjust enrichment of a par ty at the cost of other . justice to all 19. The rule of law is that when money is paid, it is to be applied first as per the expressed will of . payer . payee . both a and b . banker 20. A contract can be discharged by . Performance . Frustration . Novation . Any of the above 21. All contingent contracts are in the nature of wagering agreement- . true . false . and hence, are void . none of the above 22. If a new contract is substituted in place of an existing contract, itShow MoreRelatedHrm 531 Week 2 Individual Assignment Essays1014 Words   |  5 PagesHRM 531 WEEK 2 INDIVIDUAL ASSIGNMENT To purchase this visit here: http://www.activitymode.com/product/hrm-531-week-2-individual-assignment/ Contact us at: SUPPORT@ACTIVITYMODE.COM HRM 531 WEEK 2 INDIVIDUAL ASSIGNMENT The Employment Law Compliance Plan task in the form of a memo, as described in the message from Traci on the Atwood and Allen Consulting Page. 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