Legal aspects of supply chain management
1. Which legislation governs the formation and enforcement of contracts in India?
a) The Indian Contract Act, 1872
b) The Sale of Goods Act, 1930
c) The Negotiable Instruments Act, 1881
d) The Consumer Protection Act, 1986
2. Which act regulates the sale and purchase of goods in India?
a) The Indian Contract Act, 1872
b) The Sale of Goods Act, 1930
c) The Negotiable Instruments Act, 1881
d) The Consumer Protection Act, 1986
3. Which law deals with the issuance and transfer of negotiable instruments in India?
a) The Indian Contract Act, 1872
b) The Sale of Goods Act, 1930
c) The Negotiable Instruments Act, 1881
d) The Consumer Protection Act, 1986
4. Which act provides protection to consumers against unfair trade practices?
a) The Indian Contract Act, 1872
b) The Sale of Goods Act, 1930
c) The Negotiable Instruments Act, 1881
d) The Consumer Protection Act, 1986
5. Which legislation ensures accuracy in weighing and measuring instruments used in trade?
a) The Indian Contract Act, 1872
b) The Sale of Goods Act, 1930
c) The Standards of Weights and Measures Act, 1976
d) The Consumer Protection Act, 1986
6. Discuss the key provisions of the Indian Contract Act, 1872, that are relevant to supply chain management.
7. Explain the rights and liabilities of a buyer and a seller under the Sale of Goods Act, 1930.
8. Describe the various types of negotiable instruments and their characteristics as per the Negotiable Instruments Act, 1881.
9. Analyze the significance of the Consumer Protection Act, 1986, in protecting consumer rights in the context of supply chain management.
10. Discuss the obligations and responsibilities of suppliers under the Standards of Weights and Measures Act, 1976.
11. _______ laws regulate the establishment and operation of insurance companies in India.
12. An _______ is a legal agreement between an individual or entity and an insurance company to provide financial compensation for specified risks.
13. The _______ Act, along with its amendments, governs the taxation of income in India.
14. The _______ Act, 1944, deals with the levy and collection of excise duty on goods manufactured or produced in India.
15. _______ laws encompass various regulations related to employment, wages, working conditions, and industrial disputes.
16. The _______ Act and the Contract Labour Act provide specific provisions to protect the rights of child laborers and contract workers, respectively.
17. Documentation laws ensure that necessary _______ are maintained in the supply chain process.
18. The _______ Act, 1988, regulates the licensing, registration, and use of motor vehicles in India.
19. The Indian Contract Act, 1872, specifies that an agreement is valid only if it is made by the free _______ of parties competent to contract.
20. _______ laws impose certain obligations on insurance companies to protect the interests of policyholders and regulate their operations.
ANSWERS:
MCQs:
1. Which legislation governs the formation and enforcement of contracts in India?
Answer: a) The Indian Contract Act, 1872
2. Which act regulates the sale and purchase of goods in India?
Answer: b) The Sale of Goods Act, 1930
3. Which law deals with the issuance and transfer of negotiable instruments in India?
Answer: c) The Negotiable Instruments Act, 1881
4. Which act provides protection to consumers against unfair trade practices?
Answer: d) The Consumer Protection Act, 1986
5. Which legislation ensures accuracy in weighing and measuring instruments used in trade?
Answer: c) The Standards of Weights and Measures Act, 1976
Fill in the Blanks:
11. Insurance Laws regulate the establishment and operation of insurance companies in India.
12. An Insurance Cover is a legal agreement between an individual or entity and an insurance company to provide financial compensation for specified risks.
13. The Income Tax Act, along with its amendments, governs the taxation of income in India.
14. The Central Excise Act, 1944, deals with the levy and collection of excise duty on goods manufactured or produced in India.
15. Labour Laws encompass various regulations related to employment, wages, working conditions, and industrial disputes.
16. The Child Labour Act and the Contract Labour Act provide specific provisions to protect the rights of child laborers and contract workers, respectively.
17. Documentation laws ensure that necessary records are maintained in the supply chain process.
18. The Motor Vehicles Act, 1988, regulates the licensing, registration, and use of motor vehicles in India.
19. The Indian Contract Act, 1872, specifies that an agreement is valid only if it is made by the free consent of parties competent to contract.
20. Insurance laws impose certain obligations on insurance companies to protect the interests of policyholders and regulate their operations.
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