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Question: Payment of time- barred debt is:
(a) Valid
(b) Void
(c) Illegal
(d) Voidable

Answer: (a) Valid
Description: Where a promise to pay a time barred debt has been made in writing, it is considered valid by the law even without consideration.



Category Consideration Interview Questions & Answers - Exam Mode / Learning Mode
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Question: Payment of time- barred debt is:
(a) Valid
(b) Void
(c) Illegal
(d) Voidable

Answer:

(a) Valid
Description: Where a promise to pay a time barred debt has been made in writing, it is considered valid by the law even without consideration. Source: CoolInterview.com



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Related Questions
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Which of the following is Void Contract?
(a) Agreement the meaning of which is certain
(b) Agreement with lawful consideration
(c) Agreements with minor
(d) Agreement with inadequate consideration, if inadequacy is not supported by free consent
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A Cconsideration is:
(a) A reason behind making a proposal
(b) A condition of the fulfillment of the other's promise
(c) Doing or abstaining from doing something at the desire of the promisor
(d) Reward for something which one has done for another
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Which of the following statement is true:
(a) Consideration must be adequate
(b) Consideration must result in a benefit to both the parties
(c) Consideration must be something, which a promisor is not already bound to do
(d) Past consideration is no consideration in India
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'Pivity of Contract' is subject to the exception:
(a) Where a trust or charge is created
(b) Where payment is made to a third party
(c) Where payment is made by a third party
(d) None of these
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A who was badly in need of money offered to sell his piano worth Rs. 8500 to B for Rs. 5,000. B refused to buy. A gradually lowered his price until Rs. 2,500 was reached, which B accepted. Before the piano was delivered A received an offer of a larger sum from X and he refused to carry out the contract with B claiming that the consideration was inadequate. Is A liable topay damages to B for failure to carry out his part of contract?
(a) No, as the consideration was inadequate A cancelled the contract.
(b) Yes, A is liable to pay damages to B for failure to carry out his part of the contract.
(c) No, as the contract was made due to Undue Influence.
(d) Any of the above
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Rohan promises to make a gift of Rs 10,000 towards the repair of a temple. The trustees of the temple on the faith of his promise incurrs liabilities. Rohan does not pay. Can the trustees recover the promised amount from Rohan?
(a) The trustee cannot recover anything from Rohan
(b) The trustee can recover to the extent of liabilities from Rohan
(c) The trustee can recover Rs. 10,000 from Rohan
(d) None
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The inadequacy of consideration will be taken into account by a court of law:
(a) Always at the discretion of the court
(b) When the promisor performs his promise
(c) When absence of free consent is pleaded in the formation of the contract
(d) When the promisor expresses his desire to get maximum return from his promise
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Consideration is defined in the Indian Contract Act,1872 in:
(a) Section 2(f)
(b) Section 2(e)
(c) Section 2(g)
(d) Section 2(d)
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A is indebted to B. He sells a trolley to C. C promises to pay all debts of A to B. If C fails to pay, B has no right to sue C because:
(a) C is stranger to consideration
(b) C is stranger to contract
(c) Both
(d) None
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Which of the following is not an exception to the rule, "No consideration, No contract":
(a) Natural love and affection
(b) Compensation for involuntary services
(c) Completed gift
(d) Agency
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Consideration must move at the desire of:
(a) The promisor
(b) The promisee
(c) The promisor or any other party
(d) Both the promisor and the promisee
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Agreement without consideration is valid when made?
(a) Out of love and affection due to near relationship
(b) To pay a time barred debt
(c) To compensate a person who has already done something voluntarily
(d) All of these
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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
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