Law and Legal System in India

Podcast

Play an AI-generated podcast conversation about this lesson

Download our mobile app to listen on the go

Get App

Questions and Answers

Which legislation primarily governs the rights and liabilities of parties involved in negotiable instruments in India?

The Negotiable Instruments Act, 1881 (correct)
The Indian Partnership Act, 1932
The Indian Contract Act, 1872
The Sale of Goods Act, 1930

Under the Sale of Goods Act, 1930, what is the primary implication of 'transfer of ownership' from the seller to the buyer?

The seller retains the right to resell the goods.
The buyer assumes the risk associated with the goods. (correct)
The buyer only has the right to possess the goods.
The seller is still responsible for any damages.

Which of the following best describes the concept of 'consideration' as it relates to the Indian Contract Act, 1872?

Something of value exchanged between parties. (correct)
The legal advice sought during the contract drafting.
The emotional state of mind during the agreement.
The physical items being exchanged in a contract.

What is the significance of the term 'caveat emptor' in the context of the Sale of Goods Act, 1930?

Buyer is responsible for checking the item before purchase. (C) Signup and view all the answers

What is the role of Alternative Dispute Resolution (ADR) in the legal system in India?

To expedite dispute resolution through methods like arbitration and mediation. (C) Signup and view all the answers

Under which circumstance can an agreement be considered voidable under the Indian Contract Act, 1872?

When free consent is absent due to coercion. (D) Signup and view all the answers

What does 'Force Majeure' generally refer to in contractual agreements?

Unforeseeable circumstances (C) Signup and view all the answers

Which of the following most accurately defines a 'quasi-contract'?

A contract implied in law to prevent unjust enrichment. (D) Signup and view all the answers

What is the main purpose of including an 'indemnity clause' in a contract?

To protect one party from financial loss caused by another party's actions. (B) Signup and view all the answers

Which of the following best describes the term 'novation' in the context of contract law?

The substitution of a new contract for an existing one. (A) Signup and view all the answers

What is the primary implication of Section 138 of the Negotiable Instruments Act, 1881?

Deals with dishonour of cheque (D) Signup and view all the answers

What fundamental right, as enshrined in the Constitution of India, is most directly associated with ensuring fair legal processes?

Right to Equality before Law (B) Signup and view all the answers

Which Act stipulates the conditions under which implied warranties and conditions are applicable in a sale?

The Sale of Goods Act, 1930 (C) Signup and view all the answers

How does the concept of 'undue influence' affect the validity of a contract under the Indian Contract Act, 1872?

It makes the contract voidable at the option of the party whose consent was so obtained. (B) Signup and view all the answers

In the context of the Sale of Goods Act, 1930, what rights does an unpaid seller have against the goods?

Right of lien and stoppage in transit. (C) Signup and view all the answers

What is the legal implication if the object of an agreement is 'unlawful' under the Indian Contract Act, 1872?

The agreement is void. (A) Signup and view all the answers

Which of the following is the correct order of legislative process in India?

First Reading, Committee Stage, Third Reading, President Assent (C) Signup and view all the answers

How does 'material alteration' of a negotiable instrument impact its validity?

It discharges the parties involved from liability unless the alteration was made to carry out the common intention of the parties. (C) Signup and view all the answers

Under the Limited Liability Partnership Act, 2008, what is a key characteristic that distinguishes an LLP from a traditional partnership?

Separate legal entity status. (A) Signup and view all the answers

Which of the following scenarios would be best addressed under the Payment of Gratuity Act, 1972?

An employee retires after many years of service (D) Signup and view all the answers

Flashcards

Constitution of India

The fundamental law of India, outlining the framework of political principles, procedures, and powers of government.

Fundamental Rights

Basic rights guaranteed to all citizens, ensuring civil liberties and preventing state oppression.