Business Law - 14

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Select The Blank
Question Special resolution and confirmation by ________ is required for alteration of Memorandum.
Correct Answer Company Law Board
Your Answer Company Law Board


Multiple Choice Multiple Answer
Question Goods may be classified as :-
Correct Answer Existing goods , Future goods , Contingent goods
Your Answer Existing goods , Future goods , Contingent goods


Select The Blank
Question A ________ is an artificial person and has a legal entity.
Correct Answer Company
Your Answer Company


Select The Blank
Question A valid tender of performance should be ________.
Correct Answer Unconditional
Your Answer Unconditional


Multiple Choice Multiple Answer
Question Following are the elements which constitute a partnership firm :-
Correct Answer There must be a contract regarding a partnership , There must be an association of two or more persons
Your Answer There must be a contract regarding a partnership , The main object of carrying on the business must be the sharing of liabilities for individual profits , There must be an association of two or more persons


Match The Following
Question Correct Answer Your Answer

Presentation of Negotiable Instrument For payment For payment

When an endorser signs the instrument and adds a direction to pay the amount mentioned therein Endorsement in full Endorsement in full

Default in payment of amount of cheque Dishonour of cheque Dishonour of cheque

Notice of dishonour of cheque Mandatory provision Non mandatory provision

Multiple Choice Multiple Answer
Question According to the Consumer Protection Act, 1986, a person includes :-
Correct Answer Hindu undivided family , Co-operative society , Individual as well as juristic person
Your Answer Registered firm only , Hindu undivided family , Co-operative society


Multiple Choice Multiple Answer
Question Following are the elements which constitute a partnership
Correct Answer there must be a contract regarding a partnership , there must be an association of two or more persons
Your Answer there must be a contract regarding a partnership , the main object of carry on the business must be sharing of liabilities , there must be an association of two or more persons


True/False
Question General agents are the persons who enjoy a general authority to do everything in the course of their agency.
Correct Answer True
Your Answer True


Select The Blank
Question The person who buys the goods for trading purposes is not a ________ under the Consumer Protection Act, 1986.
Correct Answer Consumer
Your Answer Consumer


Multiple Choice Multiple Answer
Question Following persons can perform the contracts :-
Correct Answer Promissor , Agent , Legal representative
Your Answer Promissor , Agent , Legal representative


Multiple Choice Single Answer
Question The Consumer Protection Act makes available certain new remedies leaving the :-
Correct Answer Substantive rights of the consumer intact
Your Answer Substantive rights of the consumer intact


Select The Blank
Question In a ________ contract, the future event is collateral to the contract.
Correct Answer Contingent
Your Answer Contingent


Multiple Choice Single Answer
Question A lady brought a photocopier for the whole and sole purpose of earning her livelihood and she never intended to use the same for large scale trading activity or commercial purpose. She is a :-
Correct Answer Consumer
Your Answer Vendor


Multiple Choice Multiple Answer
Question Which of the following are not a void agreement?
Correct Answer Agreement with consideration
Your Answer Agreement with consideration , Agreement of marriage , Agreements relating to legal proceedings


Multiple Choice Single Answer
Question Bill of Exchange must contain :-
Correct Answer Order to pay money only
Your Answer Order to pay money only


Multiple Choice Multiple Answer
Question Agent has duties towards principal in addition to :-
Correct Answer Conducting principal's business , Rendering accounts to principal , Communicating with the principal
Your Answer Conducting principal's business , Communicating with the principal , Setting up an advance adverse title to himself


Multiple Choice Single Answer
Question A partner can not transfer his share to any outsider without obtaining :-
Correct Answer Consent of other partners
Your Answer Consent of other partners


True/False
Question An agreement without consideration is void.
Correct Answer True
Your Answer True


True/False
Question No company shall be registered by a name which, in the opinion of the central government is undesirable.
Correct Answer True
Your Answer True


True/False
Question Under the Consumer Protection Act of 1986, goods include actionable claim and money.
Correct Answer False
Your Answer False


Select The Blank
Question Spurious goods means goods which are ________.
Correct Answer Fake
Your Answer Fake


Select The Blank
Question An agent is simply a blank ________ between his principal and the third party.
Correct Answer Connecting link
Your Answer Connecting link


True/False
Question Money order, Postal order, Share Certificates, Deposit receipts and such other documents are Negotiable Instruments.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question Material attestation of Negotiable Instrument, unless carried out, common intention of the original parties becomes :-
Correct Answer Void
Your Answer Legal


Multiple Choice Single Answer
Question A body carrying out analysis or test of any goods with a view to determining whether such goods suffer from any defect is known as :-
Correct Answer Appropriate laboratory
Your Answer All India laboratory


Select The Blank
Question A partner has a right to settle the ________ of the firm out of the property of the firm.
Correct Answer Debts
Your Answer Share


Select The Blank
Question When the notice of stoppage in transit is given by the seller to the ________in possession of goods, the latter must re-deliver the goods to the seller.
Correct Answer Carrier
Your Answer Carrier


Select The Blank
Question Section 13 of the Negotiable Instrument Act gives ________ of Negotiable Instrument.
Correct Answer Meaning
Your Answer Meaning


True/False
Question A sale is an executed contract whereas an agreement to sell is an executor contract.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question The sale of goods is the most common of all :-
Correct Answer Commercial contracts
Your Answer Commercial contracts


Match The Following
Question Correct Answer Your Answer

Sale Exchange of goods for price Exchange of goods for price

Barter system Exchange of goods for goods Exchange of goods for goods

Sale of goods Act, 1930 Movable goods Movable goods

Caveat emptor Let the buyer beware Let the buyer beware

Multiple Choice Multiple Answer
Question Consent means :-
Correct Answer Assent of another , Assent to support a claim , Consent of the offeror to the contract
Your Answer Assent to support a claim , Consent of the offeror to the contract


Multiple Choice Single Answer
Question The maximum number of persons in case of partnership firm carrying on any business other than banking business must not exceed :-
Correct Answer Twenty
Your Answer Twenty


True/False
Question The law relating to sale of immovable goods is contained in the Sale of Goods Act, 1930.
Correct Answer False
Your Answer False


Select The Blank
Question ________ implies committing or threatening to commit any act forbidden by the Indian Penal Code.
Correct Answer Coercion
Your Answer Coercion


Multiple Choice Multiple Answer
Question In India, some of Negotiable Instruments by usage or custom of trade are :-
Correct Answer Government promissory notes , Bankers drafts , Pay off orders
Your Answer Government promissory notes , Bills of exchange


True/False
Question Consideration is required in formal contracts.
Correct Answer False
Your Answer True


True/False
Question An insolvent person can accept or endorse a bill.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question An Association of many persons who contribute money or money's worth to a common stock and employ it for a common purpose. It is known as a :-
Correct Answer Company
Your Answer Company


Multiple Choice Multiple Answer
Question An unregistered firm can institute a criminal proceeding for :-
Correct Answer The wrongful use of the trade mark , The wrongful use of the firm name
Your Answer The partner for settlement of firm's account , The partner for any claim of set-off


Multiple Choice Multiple Answer
Question According to the Consumer Protection Act, 1986, a service includes :-
Correct Answer Financial service , Entertainment
Your Answer Financial service , Entertainment , Personal service


True/False
Question "Law" means a set of rules and regulations in the nature of dictatorship.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question The monetary jurisdiction is based upon the :-
Correct Answer Amount of relief claimed by the complainant
Your Answer The value of goods or services


Multiple Choice Single Answer
Question Section 138 deals with :-
Correct Answer Dishonour of cheque
Your Answer Dishonour of cheque


Multiple Choice Multiple Answer
Question Following are the conditions needed to prove an act of a partner is an act of a partnership firm
Correct Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm
Your Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm


Multiple Choice Single Answer
Question A partnership at will can be dissolved by filing a suit for :-
Correct Answer Dissolution
Your Answer Dissolution