1381. A contract of indemnity is a :
A. Contingent contract *
B. Wagering contract
C. Void agreement
D. None of them
1382. The definition of a contract of indemnity as given in the contract act includes :
A. Express promises to indemnity
B. Impiled promises to indemnity
C. Both A and B
D. None of them
1383. S and P go into a shop. S says to the shopkeeper . C,” Let P have the goods and if he does not pay you . I will ” This is a :
A. Contract of guarantee *
B. Contract of Indemnity
C. Wagering agreement
D. Quasi- contract
1384. Any variance made without surety’s consent in the terms of contract between the principal debtor and the creditor discharges the surety :
A. As to transaction prior to variance
B. As to transaction subsequent to variance *
C. Both A and B
D. None of them
1385. A guarantee obtained by a creditor by keeping silence as to material circumstances is :
A. Valid
B. Voidable
C. Unenforceable
D. Invalid *
1386. Where there are co-sureties , a release by the creditor of one of them :
A. Discharge the other co-sureties
B. Does Not discharge the other co-sureties *
C. Both A and B
D. None of them
1387. The right of subrogation in a contract of guarantee is available to the :
A. Creditor
B. Principal debtor
C. Surety *
D. Indemnifier
1388. The omission of the creditor to sue within the period of limitation:
A. Discharges the surety
B. Does not discharge the surety *
C. Makes the contract of guarantee void
D. Makes the contract of guarantee illegal
1389. A bailee has :
A. A right of particular lien over the goods bailed *
B. A right of general lien
C. A right of both particular and general lien
D. None of them
1390. The position of a finder of lost goods is that of a :
A. Bailor
B. Bailee *
C. Surety
D. Principal debtor