1872 Contract Act

1.According to Article 214 of the Contract Act, to whom must an agent report when facing difficulties?

2.According to Section 201 of the Contract Act, an agency relationship may be ended by which of the following actions?

The principal withdrawing the agent's authorityThe agent abandoning the agency dutiesThe fulfillment of the agency's purposeAny of the above actionsNone of the above

3.According to Section 189 of the Contract Act, what extent of authority does an agent have during an emergency?

Restricted and requires approval from the principalUnrestricted; the agent may perform all essential actions without the principal's consentBoth restricted and unrestricted depending on the situationNone of the aboveNot applicable

4.In an agency relationship, what is the term for a person who works under the authority of the original agent within the agency business?

5.Which of the following roles cannot be held by an individual who is legally unsound?

6.Under Section 183, who is legally permitted to appoint an agent?

7.Which topic is addressed under Section 178 of the Contract Act, 1872?

8.What is the term used for the bailment of goods given as security to ensure payment of a debt or fulfillment of a promise?

9.Under which section of the Contract Act is the bailor obligated to inform the bailee about any defects in the goods delivered for bailment?

10.What does the term 'Bailment' refer to?

The transfer of possession of an item for a specific purpose under a contractual agreementThe handing over of goods without any charge involvedThe free delivery of items intended for public benefitNone of the aboveNot applicable