Business Law - 16

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Select The Blank
Question A company is a ________ company if the holding company controls the majority composition of its board of directors.
Correct Answer subsidiary
Your Answer subsidiary


Multiple Choice Multiple Answer
Question According to Rule 3 of the Consumer protection rules the Central Council consists of the following members
Correct Answer Minister in-charge of the dept. of home , Minister in-charge of dept. of Commerce and Industry , Minister in-charge consumer affairs in states
Your Answer Minister in-charge of dept. of civil supplies , Minister in-charge consumer affairs in states


True/False
Question Mental acceptance amounts to an acceptance.
Correct Answer False
Your Answer False


True/False
Question The company cannot exceed the powers conferred on it by its memorandum
Correct Answer True
Your Answer True


Select The Blank
Question Unpaid seller's right to stop the goods in transit arises only when the buyer is ________
Correct Answer Bankrupt
Your Answer Bankrupt


Multiple Choice Single Answer
Question Actual delivery of goods is also known as
Correct Answer physical delivery of goods
Your Answer physical delivery of goods


Multiple Choice Single Answer
Question A certificate of incorporation is issued by
Correct Answer A Registrar
Your Answer A Registrar


Match The Following
Question Correct Answer Your Answer

Minor Partner Admitted for profits only Partners

Dissolution of a Partnership Death or Insanity of the partners Death or Insanity of the partners

Firm Partners Agents of the firm

Partner Agents of the firm Admitted for profits only

Partnership Can be formed at Will Can be formed at Will

Multiple Choice Single Answer
Question Whatever a person can do himself, he can do the same through another person i.e.,
Correct Answer his agent
Your Answer his agent


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 Agent


True/False
Question A Bill of Exchange can be crossed.
Correct Answer False
Your Answer True


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 Partnership Business


True/False
Question In case the object of an agency becomes unlawful, the agency can not be terminated.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question The partner who is illegally expelled
Correct Answer can claim re-instatement , can sue the firm for the refund of his share in the profits as well as profits
Your Answer can claim re-instatement , can sue the firm for the refund of his share in the profits as well as profits


Match The Following
Question Correct Answer Your Answer

Unlawful Business Dissolution of Partnership Dissolution of Partnership

Sub-partner Sharing of profits by outsiders Sharing of profits by outsiders

Partnership Association of two or more persons Association of two or more persons

Partners have to be Competent Competent

Partner lending his name only Nominal partner Nominal partner

Select The Blank
Question The object of the Consumer Protection Act of 1986 is to educate the people so that they can find out ________ for their grievances
Correct Answer legal remedies
Your Answer legal remedies


True/False
Question Memorandum of a company is a primary and supreme document of the company.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Negotiable Instruments recognised by usage or custom of trade
Correct Answer Bank notes , share warrants , share certificates
Your Answer share warrants , share certificates , cheques


Multiple Choice Multiple Answer
Question Public notice is required to be given
Correct Answer on the dissolution of a firm which is registered , on the retirement of any of the partner of a registered firm
Your Answer on the dissolution of a firm which is registered , on retirement of a dormant partner , on the retirement of any of the partner of a registered firm


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


True/False
Question Directors of a private company need to file their consent with the registrar to act as director or sign an undertaking.
Correct Answer False
Your Answer True


Multiple Choice Multiple Answer
Question The very important stages in the connection of formation of a company are
Correct Answer Promotion , Registration , Floatation
Your Answer Promotion , Registration , Floatation


Select The Blank
Question Under ________ influence the dominant party may hold a real authority over the other party.
Correct Answer undue
Your Answer undue


Multiple Choice Multiple Answer
Question Goods means
Correct Answer growing crops , stocks & shares
Your Answer actionable claims , growing crops , stocks & shares


Multiple Choice Multiple Answer
Question Public notice of a dissolution of firm is required to be given by
Correct Answer publishing the same in the official gazette , publishing the same in the local news paper
Your Answer publishing the same in the official gazette , publishing the same in the local news paper


Multiple Choice Multiple Answer
Question Every Prospectus shall state the matters specified in part I of schedule II of the Companies Act issued by
Correct Answer Or on behalf of a company , Or on behalf of any person engaged in formation of company , Or on behalf of any person interested in formation of company
Your Answer Or on behalf of a company , Or on behalf of any person engaged in formation of company , Or on behalf of any person interested in formation of company


Multiple Choice Multiple Answer
Question Following are the characteristics of the partnership at will
Correct Answer Partners are always free to break their relationship at their whim , It is for indefinite period
Your Answer Partners are always free to break their relationship at their whim , It is for indefinite period


Multiple Choice Single Answer
Question General offers open for the world at large can be accepted by any person
Correct Answer who complies with the conditions of the offer
Your Answer in the world


Multiple Choice Multiple Answer
Question Limited companies can be formed for promoting
Correct Answer Commerce , Art , Religion
Your Answer Commerce


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 Unlimited companies , Companies limited by guarantee , Private companies limited by shares


Select The Blank
Question A person under any legal or natural ________ can not appoint an agent.
Correct Answer disability
Your Answer disability


True/False
Question All contracts are agreements and all agreements are contracts.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Following are the conditions needed to prove that an act of a partner is an act of a partnership firm
Correct Answer an act be done in an ordinary course of business 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 Act done in personal capacity , 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 Actual delivery of goods is also known as
Correct Answer physical delivery of goods
Your Answer physical delivery of goods


Select The Blank
Question The confirmation of change of registered office of company within a state shall be communicated to the company within ________ from the date of receipt of such application.
Correct Answer Four weeks
Your Answer Four weeks


Multiple Choice Single Answer
Question When the time is not specified for the delivery of goods, the goods must be delivered.
Correct Answer Reasonable time
Your Answer Reasonable time


Select The Blank
Question Holding out means ________ leading another person to believe in something.
Correct Answer falsely
Your Answer forcefully


Multiple Choice Multiple Answer
Question Partners by Estoppel or holding out are also called as
Correct Answer quasi-partner , nominal partner
Your Answer quasi-partner , nominal partner


Multiple Choice Multiple Answer
Question Following are the characteristics of partnership at will
Correct Answer partners are always free to break their relationship at their whim , it is for indefinite period
Your Answer partners are always free to break their relationship at their whim , it is for indefinite period


Multiple Choice Multiple Answer
Question The memorandum of Association is the most important document, it acts out
Correct Answer The constitution , The formation , The objectives
Your Answer The constitution , The objectives


True/False
Question Alteration of memorandum or articles etc. to be noted in every copy.
Correct Answer True
Your Answer True


Select The Blank
Question A club or a society is an ________ of persons
Correct Answer association
Your Answer association


Select The Blank
Question Unpaid seller's right to stop the goods in transit arises only when the buyer is ________
Correct Answer Bankrupt
Your Answer Bankrupt


True/False
Question An auctioneer has full authority to sell the goods of his principal by private contracts.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question Which of the following is the essential element of the contract ?
Correct Answer free consent
Your Answer free consent


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 The very important stages in the connection of formation of a company are
Correct Answer Promotion , Registration , Floatation
Your Answer Promotion , Registration , Floatation

Posted in: Business Law (Set - VI)