𝗗𝗘𝗟𝗛𝗜 𝗨𝗡𝗜𝗩𝗘𝗥𝗦𝗜𝗧𝗬 (NOTES)

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Here are five Important one-mark multiple-choice questions (MCQs) on Business Law for first-semester students: 1. Which of the following is NOT a essential element of a valid contract? A) Offer B) Acceptance C) Intention to create legal relation D) Negotiation Answer: D) Negotiation 2. Who among the following can enter into a contract? A) Minor B) Person of unsound mind C) Alien enemy D) A major person of sound mind Answer: D) A major person of sound mind 3. What is the term for the process of terminating a contract? A) Novation B) Rescission C) Discharge D) Repudiation Answer: C) Discharge 4. Which Act regulates the formation of contracts in India? A) Indian Contract Act, 1872 B) Sale of Goods Act, 1930 C) Partnership Act, 1932 D) Companies Act, 2013 Answer: A) Indian Contract Act, 1872 5. What is the term for a contract where one party has no obligation to perform? A) Valid contract B) Void contract C) Voidable contract D) Unilateral contract Answer: D) Unilateral contract. CEP Classes ✍️

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