Q.1. ____________ is/are example(s) of a contingent contract.
(a) Insurance contract
(b) Guarantee contract
(c) Indemnity contract
(d) All the three
Q.2. X promise to pay Y Rs.10,000 as and when he marries Z. The contract is __________?
(a) A contingent contract
(b) A wagering contract
(c) Opposed to public policy
(d) In restraint of personal freedom
Q.3. The nature of a contingent contract is ______________?
(a) It is void
(b) It is valid
(c) It is voidable
(d) It is unenforceable
Q.4. Both the parties needs to appoint arbitrator within _________ days
(a) 30
(b) 20
(c) 10
(d) 40
Q.5. High Court or Supreme Court, while considering application for appointment of arbitrator, shall examine only existence of ______________?
(a) Arbitration agreement
(b) Agreement
(c) Reasons for dispute
(d) Nature of dispute
Q.6. What are the factors mentioned below can doubt the independence and impartiality of the arbitrator
(a) If proposed arbitrator is employee, advisor, law firm, advocate
(b) If proposed arbitrator is consultant of one of the parties to arbitration agreement
(c) If proposed arbitrator is connected with such advocate, law firm etc
(d) Either of them
Q.7. What are the factors mentioned below can doubt the independence and impartiality of the arbitrator
(a) If proposed arbitrator is employee, advisor, law firm, advocate
(b) If proposed arbitrator is consultant of one of the parties to arbitration agreement
(c) Both of them
(d) Either of them
Q.8. Arbitrator, while giving declaration under section 12(1) of Arbitration and Conciliation Act, 1996 has to state whether he has sufficient time to complete assignment within ___________?
(a) 12 months
(b) 10 months
(c) 6 months
(d) 5 months
Q.9. Appointment of Arbitrator can be challenged only if____________?
(a) Circumstances exist that gives rise to justifiable doubts as to his independence or impartiality
(b) He does not possess the qualifications agreed to hr the parties
(c) Both of them
(d) None of them
Q.10. Mandate of an arbitrator shall terminate if____________?
(a) He becomes de jure or de facto unable to perform his functions
(b) He withdraws from his office
(c) The parties agree to the termination of mandate
(d) All of above
Answers
1. Correct Answer: D
2. Correct Answer: A
3. Correct Answer: B
4. Correct Answer: A
5. Correct Answer: A
6. Correct Answer: D
7. Correct Answer: D
8. Correct Answer: A
9. Correct Answer: C
10. Correct Answer: D