MCQ Bank

In Islamic law of contracts therefore, exchange of goods, receiving a gift, accepting a woman as wife through ______ and agreement on partnership etc. etc. come under the umbrella of “CONTRACT”.

A) Marriage
B) Nikah
C) Will
D) Society

AI Explanation

In Islamic contract law, accepting a woman as wife is accomplished through Nikah. Nikah is therefore treated as a form of contract under Islamic jurisprudence.

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Which of the following is an example of acceptable consideration in a contract?

A) Fare
B) Rent
C) Price
D) All of the given options

AI Explanation

Fare, rent, and price can each constitute valid forms of consideration in a contract. Therefore, all of the listed options are acceptable consideration.

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Accumulation of wealth is………………….in achieving good objects and leaving an estate to heirs.

A) May be allowed by state
B) Also allowed
C) Not allowed
D) Is allowed with some conditions

AI Explanation

Islam permits accumulation of wealth when it is acquired and used lawfully. There are conditions and restrictions intended to ensure wealth serves legitimate purposes and does not violate Islamic principles.

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The following can avail of the right of making gift of his property only before lying on his deathbed.

A) Manager
B) Owner
C) Beneficial
D) Hiba

AI Explanation

The owner of property has the right to make a gift (Hiba) of it during their lifetime. This right is subject to the relevant rules of Islamic law, particularly when the person is on their deathbed.

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Which of the following is not a type of Shirkat-ul-Aqad?

A) Shirkat-ul-Wojooh
B) Shirkat-ul-Aloom
C) Shirkat-ul-Aamal
D) Shirkat-ul-Amwal

AI Explanation

The recognised forms of Shirkat-ul-Aqad include Shirkat-ul-Amwal, Shirkat-ul-Aamal, and Shirkat-ul-Wujooh. Shirkat-ul-Aloom is not a recognised type of Shirkat-ul-Aqad.

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Which of the following is not true about a contract?

A) It is recognized by Law
B) It does not affect legal liabilities
C) It affects legal rights
D) It is enforceable by Law

AI Explanation

A contract is legally recognized and enforceable, and it creates or affects legal rights and liabilities between the parties. Therefore, the statement that it does not affect legal liabilities is not true.

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A Wasiya be made for………………..

A) Daughter
B) Cousin
C) Wife
D) Son

AI Explanation

A Wasiya (bequest) may be made for a person who is not already entitled to a fixed inheritance share. A cousin can receive a bequest, subject to the rules governing Wasiya.

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Which of the following is an important factor in the definition of sale?

A) Mutual Consent of persons or parties
B) All of the given options
C) Exchange
D) Valuable

AI Explanation

A sale involves mutual consent between the parties, an exchange, and valuable consideration. Thus, all the listed factors are important elements in defining a sale.

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In Islamic Concept of Ownership Every owner has the right to protect his property and to save it from following

A) Sellers
B) Trespass
C) Buyers
D) Intruders

AI Explanation

In the Islamic concept of ownership, an owner has the right to protect and preserve his property. This includes safeguarding it from unauthorized persons or intruders.

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Allah has declared that He becomes a party in a business between ………………….

A) All of the given options
B) Two Musharakain
C) Ajir and Ajeer
D) Muzarrah and Landlord

AI Explanation

Islamic teachings describe Allah as a party in a business partnership between two Musharakain, provided neither partner acts treacherously toward the other. This highlights the importance of honesty and trust in Musharakah.

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Q10

In Shirkat-ul-Aaqd both partners ………………………. to earn profit from Shirkah asset.

A) Do intend
B) Do not intend
C) Must not intend
D) May intend

AI Explanation

In Shirkat-ul-Aaqd, the partnership is formed by agreement between the partners with the intention of earning profit from the partnership assets. Profit-making is therefore an intended purpose of this type of partnership.

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Q11

Which of the following method is not allowed for accumulation of wealth in Islam?

A) Trampling
B) Avarice
C) Cupidity
D) All of the given options

AI Explanation

Trampling, avarice, and cupidity represent improper or prohibited approaches to wealth accumulation in Islamic teachings. Therefore, all of the given options are not allowed methods.

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Q12

Which of the following is not a “valuable thing” for a contract of sale as per Islamic system?

A) Meat of camel
B) Meat of goat
C) Meat of cow
D) Meat of pig

AI Explanation

For a valid Islamic sale, the subject matter must be a lawful and valuable thing. Pig meat is prohibited (haram) in Islam and therefore cannot be treated as a valid subject of sale.

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Q13

In shirkat-ul-Milk both partners ………………………. to earn profit from Shirkah asset.

A) Do intend
B) May intend
C) Must intend
D) Do not intend

AI Explanation

Shirkat-ul-Milk refers to joint ownership of an asset, which may arise without an agreement specifically aimed at earning profit. The co-owners may intend to earn profit from the jointly owned asset, but they do not necessarily have to.