Indemnity and Guarantee – Multiple Choice Questions 1. The person in respect of whose default, the guarantee is given is called ………..(a) principal debtor(b) principal creditor(c) principal surety(d) principal bailee Ans. (a) 2. In contract of indemnity how many parties are required ?(a) 4(b) 6(c) 7(d) 2 Ans. (d) 3. The guarantee of single transaction is ………..(a) general…
Category: Law
Bailment and Pledge- Multiple Choice Questions
Bailment and Pledge- Multiple Choice Questions 1. The term “Bailment” means A. A delivery of a thing entrusted for some special purpose or object upon a contract B. Delivery of goods free of cost C. Delivery of goods without cost for welfare of public D. None of above Answer – A 2. The delivery of goods…
Contract of Agency- Multiple Choice Questions
Contract of Agency- Multiple Choice Questions 1. Which one of the following statements is incorrect? Normally, Agents are entitled to be paid for their services, But, in certain circumstances, a gratuitous agent i.e. someone who is not paid for their service, may also be an Agent. Answer: C 2. An agency relationship which is made…
