SPAN 3811 MGT 611 Saqib promises to deliver supplies at Waheed’s store on the 1st January.

MGT 611)Assignment No. 2 (Quiz)Due Date: 16/5/2016Instructions:Marks: 10•To attempt the quiz, students are supposed to submit their solution files (MSWord Documents) in the following “table format” (sample).Q No. Selected Option123abd•Prepare your solution in “doc” or “rtf” format (compatible with “Word 2003”). Do notprepare your assignments in Excel, Power Point, PDF or any other format.Questions:1. Saqib promises to deliver supplies at Waheed’s store on the 1st January. Onthat day Saqib brings the goods to Waheed’s store but after the usual hour forclosing it, so supplies are not received by Waheed. What happens in thissituation?a. Saqib has performed his promiseb. Saqib has not performed his promisec. Waheed is responsible for not receiving suppliesd. Both Saqib and Waheed are responsible for the situation2. Contract between the client and his lawyer regarding payment of agreedprofessional fee if the suit turns out to be successful is called __________.a. Contingent contractb. Professional contractc. Business contractd. Legal contract3. If an agreement is made by the free consent of parties competent to contract, fora lawful consideration and with a lawful object, and is not hereby expresslydeclared to be void, it will be called as ___________.a. A void agreementb. An acceptable agreementc. A contractd. A promise4. which of the following includes the active concealment of a fact by one havingknowledge or belief of the facta. Fraudb. Free Consentc. Promised. Misrepresentation5. Mr. A (a service provider) enters into a Personal Contract with Mr. B (client) toperform a specific task. In case of A’s death before performing the task,_______.a. Mr. B must perform itb. Representative of Mr. A must perform this taskc. Representative of Mr. A must hire another person to perform the taskd. The contract is void in this case6. A businessman applies to a banker for a loan at a time when there is stringencyin the money market. The banker declines to make the loan except at anunusual y high rate of interest. The businessman accepts the loan on theseterms. Which of the following is true about the situation?a. The contract is not induced by undue influenceb. The contract is induced by undue influencec. The contract is voidable at the option of businessmand. Bankers have ability to dominate the clients7. A seller, intending to deceive buyer, falsely represents that a hundred thousandunits of product are made annually at his factory, and thereby induces buyer tobuy the factory.a. The contract is voidable at the option of sel erb. The contract is voidable at the option of buyerc. The contract is not voidable at the option of buyerd. The contract is void8. Aslam agrees to sell to Saleem “two tons of flour” but there is nothing whateverto show what kind of flour was intended. The agreement is void for uncertaintyunder ________.a. Section 26b. Section 27c. Section 28d. Section 299. A contingent contract – to do or not to do anything if an uncertain future eventhappens – cannot be enforced by law unless and until that event has happened.This condition is covered under which section of contract act?a. Section 31b. Section 32c. Section 36d. Section 3810.Mr. A enters into a contract with Mr. B to construct a building according to thesight plan against the payment of the certain agreed amount. As per practice insuch type of contracts, __________.a. Mr. A shall first construct the building and then demand payment from Mr.Bb. Mr. B shall first pay the amount and then Mr. A construct the buildingc. Payment shall be made on monthly installments basisd. Payment shall be done as the construction is completed in various stages