1) Which statement is correct ?
A) Only act can be consideration for promise.
B) Only abstinence can be consideration.
C) Only promise promise can be consideration.
D) Out of act abstinence or promise, any can be consideration.
Answer: D
2) A promise to compensate a time barred debt must be :
A) Written and signed.
B) Oral
C) Written,signed and registered.
D) Only written
Answer : A
Reason - According to Section 25(3).
3) Which of the following is correct ?
A) Past consideration is no consideration.
B) Consideration can be past, present or future.
C) Consideration can only be present .
D) Consideration can only be future.
Answer : B
Reason - According to Section 2(d)
4) Give correct response....
A) A consideration must always be present or future .
B) Even a past act is a sufficient consideration in India.
C) Past consideration is no consideration.
D) Quid porquo is no consideration.
Answer : A
5) give correct response...
A) An agreement made without consideration is void because it is nudum pactum .
B) An agreement made without consideration is voidable.
C) An agreement made without consideration is niether invalid nor voidable.
D) An agreement made without consideration is illegal.
Answer : A
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