AILET entrance exam Question Bank Solutions

Communication of offer is complete when

An offer stands revoked

Acceptance takes place as against the proposer, when

The offer must be ..............

A contract is made where:

A tender is

An offer made by words spoken or written is called:

Parol contracts are also known as

.................. is made by words spoken.

A appoints B as his agent, by way of a power of attorney. This is an example of

................. implies a contract though the parties never expressed their intention to enter into a contract.

Where the obligation in a contract is outstanding on the part of both parties, it is called

An agreement is

Where a contract has to be inferred from the conduct of parties, it is called

................. is a one-sided contract in which only one party has to perform his promise or obligation.

Given below is the statement of Legal principle followed by a factual situation. Apply the principle to the facts given below and select the most appropriate answer.
LEGAL PRINCIPLE: The acceptance of an offer will be valid only if it is made in the way it was expected to be made.
FACTUAL SITUATION: There was a telephonic discussion between 'J' and 'K' for negotiating the sale of the shop of former to the latter. Upon reaching an agreement as to the price of the shop of 'J' at Rs 20 lakh, 'J' told 'K' to send a letter to him within two weeks confirming that she wishes to buy the shop for the price finalized. Two days thereafter, 'K' gave her acceptance to 'J' over the telephone but sent the letter of confirmation after a lapse of one month.
ls 'J' bound by the acceptance of 'K'?
DECISION:

The following question consists of two statements, one labelled as. 'Assertion' and the other as 'Reason'. Read both the statements carefully and answer using the codes given below.

Assertion (A): The parties to the contract must be competent to contract otherwise it will be a void contract.
Reason (R): All wagering agreements are void.

The institutional infrastructure under the Insolvency and Bankruptcy Code, 2016, rests on certain pillars:

1. Insolvency Professionals
2. Information Utilities
3. Adjudication
4. The Insolvency and Bankruptcy Board of India
5. Asset Construction Companies

Correct code is :

The speaker vote in the Lok Sabha is called

Which article provides for the office of the Attorney General of India?