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...Group ii business law paper i fundamental principles of contract and allied laws sample multiple choice questions put across the right option promises which form consideration or part for each other are called as mutual reciprocal written performance conditions a proposal acceptance any promise may be offered with is an all agreements if they made by free consent parties competent to lawful object not hereby expressly declared void standard forms contracts enforceable quasi when at desire promisor promisee person has done abstained from doing does abstains do abstain something such act abstinence defined under section e f d every set agreement in exchange another forming mutually agreed partially caused coercion fraud misrepresentation whose was so valid ab initio legally voidable party some event collateral happen contingent express implied indemnity who finds goods belonging takes them into his custody subject same responsibility bailor indemnifier bailee guarantor agree new it resci...