Business Law - 15

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Select The Blank
Question Acceptance of a lesser performance than what was actually contracted for is known as ________.
Correct Answer remission
Your Answer novation


True/False
Question Unenforceable agreements and illegal agreements mean one and the same thing.
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 ________ implies committing or threatening to commit any act forbidden by the Indian Penal Code.
Correct Answer Coercion
Your Answer Coercion


True/False
Question If all the members of a company are married, the company would not be a married person.
Correct Answer True
Your Answer True


True/False
Question Companies can be registered with undesirable names.
Correct Answer False
Your Answer False

Multiple Choice Multiple Answer
Question A company is registered as an artificial person. It has no
Correct Answer Body , Soul , Conscience
Your Answer Body , Soul , Conscience


Multiple Choice Multiple Answer
Question A condition is a type of stipulation and has following characteristics
Correct Answer It is of the subsidiary character , A breach of it gives the suffered party the one & only one right to repudiate the contract
Your Answer It is of fundamental in nature , It directly goes to the root of the contract , A breach of it gives the suffered party the one & only one right to repudiate the contract


Multiple Choice Single Answer
Question The communication of a proposal is complete when it
Correct Answer comes to the knowledge of the person to whom it is made
Your Answer comes to the knowledge of the person to whom it is made


Multiple Choice Multiple Answer
Question The liability of companies on the basis of liability are
Correct Answer Unlimited companies , Limited by guarantee , Limited by shares
Your Answer Limited by guarantee , Limited by shares


Select The Blank
Question When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________.
Correct Answer accepted
Your Answer accepted


True/False
Question Convicts are disqualified from contracting by the law to which they are subject.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question A stipulation in a contract of sale with reference to goods which are subject there of may be
Correct Answer A condition or warranty
Your Answer An agency agreement


True/False
Question A servant appointed by his masters is an agent.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question The object of the contract should be
Correct Answer legal one , lawful
Your Answer any business , legal one , lawful


Multiple Choice Single Answer
Question An agency is based upon consent and hence, it is a
Correct Answer consensual relations
Your Answer consensual relations


Select The Blank
Question The Indian Contract Act, 1872, does not cover all those duties which are not ________ in nature.
Correct Answer contractual
Your Answer contractual


Multiple Choice Single Answer
Question Unpaid seller's right to stop the goods in transit arises only when the buyer becomes
Correct Answer insolvent
Your Answer fraudulent
Multiple Choice Single Answer
Question Right to withhold the delivery of goods is similar to and co-extensive with the right of
Correct Answer stoppage of goods in transit
Your Answer stoppage of goods in transit
Select The Blank
Question The company does not possess ________ still it is a person in the eyes of law.
Correct Answer fundamental rights
Your Answer constitutional rights


Multiple Choice Single Answer
Question The essence of contract of sale is
Correct Answer sale of goods
Your Answer sale of goods


Match The Following
Question Correct Answer Your Answer

Penalty for false particulars Imprisonment for three months Imprisonment for three months

Partnership deed Name, Place, Date Name, Place, Date

A statement in prescribed form and accompanied by fees Required for registration To rectify any mistake

The registrar of firms To rectify any mistake Required for registration

Multiple Choice Single Answer
Question The National Commission has the power to entertain appeals against the orders of any
Correct Answer State Commission
Your Answer Consumer Tribunal


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


Select The Blank
Question An offer must create ________ relationship
Correct Answer Legal
Your Answer Legal


True/False
Question Company is treated as a legal person distinct from its members.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question A cheque can be
Correct Answer Bearer , Order , Crossed
Your Answer Bearer , Crossed


Multiple Choice Single Answer
Question In an auction sale, if someone gives highest bid and the auctioneer accepts his offer by striking the hammer it is
Correct Answer an implied acceptance
Your Answer an implied acceptance


Match The Following
Question Correct Answer Your Answer

Complaint of Consumer Any allegation in writing Any allegation in writing

Trade in relation to any goods Who distributes goods Who distributes goods

Manufacturer Who makes any goods Who makes any goods

Consumer Dispute Dispute between consumer and manufacturer or trader Dispute between consumer and manufacturer or trader

Multiple Choice Single Answer
Question Constructive delivery is also called as Delivery by
Correct Answer Attornment
Your Answer Attornment


Multiple Choice Multiple Answer
Question Following are the essential of Undue influence
Correct Answer there must be some relationship between the parties , It is mainly of moral character
Your Answer intention to induce someone to enter into an agreement , threatening to detain property, unlawfully , It is mainly of moral character


Multiple Choice Multiple Answer
Question There is always a direct privity of contract between the principal and the following
Correct Answer substituted agent , co-agent , general agent
Your Answer substituted agent , general agent


Select The Blank
Question One man holds practically the ________ of the share capital of the one man company.
Correct Answer whole
Your Answer whole


Select The Blank
Question The ________ of 1986 is basically passed to protect the interest of the consumer.
Correct Answer Consumer Protection Act
Your Answer Consumer Protection Act


Multiple Choice Multiple Answer
Question An agent may retain, out of any sums received on account of the principal in the business of the agency
Correct Answer remuneration as may be payable , expenses properly incurred , all sums due to himself
Your Answer remuneration as may be payable , expenses properly incurred , all sums due to himself


Multiple Choice Single Answer
Question Quasi Contract is created by
Correct Answer law
Your Answer law


True/False
Question The Registrar shall register the altered memorandum and certify the registration under his hand within one month from the date of filing such documents.
Correct Answer True
Your Answer False

True/False
Question Registration is compulsory for all the companies.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The following types of companies are required to have their own articles
Correct Answer Unlimited companies , Companies limited by guarantee , Private companies limited by shares
Your Answer Companies limited by guarantee , Private companies limited by shares


True/False
Question The membership of the association of company shall cease on the dissolution of the firm.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question A contract in which a consent is caused by undue influence, is
Correct Answer voidable at the option of the consenting party
Your Answer voidable at the option of the consenting party


Multiple Choice Single Answer
Question Every company by law must have
Correct Answer Common seal
Your Answer Common documents


Select The Blank
Question Any person who is of age of majority according to the law to which he is a subject, may ________ an agent.
Correct Answer appoint
Your Answer appoint
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


Multiple Choice Multiple Answer
Question A company is registered as an artificial person. It has no
Correct Answer Body , Soul , Conscience
Your Answer Body , Soul , Conscience


Select The Blank
Question A misrepresentation may be committed by causing a mistake ________
Correct Answer innocently
Your Answer innocently


True/False
Question No consideration is required in formal contracts.
Correct Answer True
Your Answer False