Business Law - 17

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Single Answer
Question In the Bill of Exchange, the person to whom the bill is made payable is called as
Correct Answer payee
Your Answer payee


True/False
Question A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price
Correct Answer True
Your Answer True


Select The Blank
Question The person acting as an agent on behalf of the principal should act ________.
Correct Answer honestly
Your Answer honestly


True/False
Question An intention to create legal relations is one of the most important criterions to establish a contract.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question "Every agreement and promise enforceable at law is a contract", This statement was made by -
Correct Answer Sir Fredrick Pollock
Your Answer Sir Fredrick Pollock


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 Coercion means and includes
Correct Answer any act forbidden by the Indian Penal Code , any threatening to commit illegal act
Your Answer any act forbidden by the Indian Penal Code , any threatening to commit illegal act , act forbidden by any law


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


Match The Following
Question Correct Answer Your Answer

Relationship of Master and servant No authority to bind No authority to bind

Relationship between the principal and the agent Fiduciary Commission Agent

An agent who is appointed to sell goods on behalf of the principal An auctioneer Marketing Agent

An agent appointed for selling or buying goods on behalf of his principal Commission Agent Dealer

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


Multiple Choice Multiple Answer
Question The Articles of Association contains the
Correct Answer Rules , Regulations , Bye-laws
Your Answer Rules , Regulations , Bye-laws
Multiple Choice Single Answer
Question One of the essentials of a Bill of Exchange is that it
Correct Answer must be in writing
Your Answer must be in writing
True/False
Question The term business includes every lawful trade, occupation and profession.
Correct Answer True
Your Answer True


Match The Following
Question Correct Answer Your Answer

Appropriate Laboratory Recognised by Central Government Recognised by Central Government

Services Doesn't include contract of personal service Stock and share

Spurious goods Goods claimed to be genuine Doesn't include contract of personal service

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


Multiple Choice Multiple Answer
Question Following persons can not be called partners
Correct Answer minors , insolvents , co-owners without the agreement to carry on the business
Your Answer minors , insolvents , co-owners without the agreement to carry on the business


Multiple Choice Single Answer
Question To be deemed as an unpaid seller the seller must
Correct Answer have sold the goods against cash and the price must be due
Your Answer have sold the goods against cash and the price must be due


True/False
Question The provisions of sale of goods were previously included in the Indian Contract Act, 1872.
Correct Answer True
Your Answer False


Multiple Choice Single Answer
Question Partnership at will can be dissolved by any partner by
Correct Answer Giving due notice to that effect to all other partners
Your Answer Giving due notice to that effect to all other partners


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


True/False
Question Legal controls, restrictions on public companies are more and strict.
Correct Answer True
Your Answer True


True/False
Question An agency can be terminated after lapse of time or completion of the work.
Correct Answer True
Your Answer True


Select The Blank
Question Agents are ________ to act within the scope of the authority given.
Correct Answer authorised
Your Answer authorised


Multiple Choice Multiple Answer
Question The exceptions to the Wagering Agreement are
Correct Answer Cross-word competitions , Horse-race
Your Answer Horse-race , Lottery , Match Fixing

Multiple Choice Multiple Answer
Question The particular partnership automatically comes to an end
Correct Answer on the completion of the venture , at the expiry of the fixed term
Your Answer on the completion of the venture , by giving express notice. , at the expiry of the fixed term


Multiple Choice Single Answer
Question When an agent is appointed to perform a particular work or transaction only, he is known as
Correct Answer special agent
Your Answer special agent


Select The Blank
Question An offer, to be treated as a valid offer, should be ________.
Correct Answer communicated
Your Answer communicated


Multiple Choice Multiple Answer
Question Ratification can be valid, only
Correct Answer if the act to be ratified is legal , if done for the whole transaction , if communicated to the concerned party
Your Answer if done for the whole transaction


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


Select The Blank
Question The directors of a company have to file their consent with the ________ to act as director.
Correct Answer registrar
Your Answer chairman

Select The Blank
Question As per S.2(1) (f) of the Consumer Protection Act, defect means any ________ in the quality of goods
Correct Answer shortcoming
Your Answer shortcoming


Multiple Choice Single Answer
Question Partnership is nothing but
Correct Answer a legal relationship between the partners
Your Answer a legal relationship between the partners


Multiple Choice Multiple Answer
Question The memorandum of every company shall state
Correct Answer The name of the company , The registered office , The main objects
Your Answer The name of the company , The registered office , The main objects


Multiple Choice Multiple Answer
Question A person is deemed to be in a position to dominate the will of another if the person whose mental capacity is affected by
Correct Answer temporary effect of age , permanent effect of age , bodily distress
Your Answer temporary effect of age , permanent effect of age , bodily distress


Multiple Choice Single Answer
Question In case of private limited company, minimum number of members is two while the maximum is
Correct Answer 50
Your Answer 50


Multiple Choice Multiple Answer
Question In the absence of usage or custom of trade to the contrary, the implied authority of a partner does not empower him to
Correct Answer Acquire movable property on behalf of the firm , transfer movable property belonging to the firm
Your Answer admit any liability in a suit or proceedings against the firm , transfer movable property belonging to the firm , enter into partnership on behalf of the firm

Multiple Choice Multiple Answer
Question Following are the persons who cannot enter into partnership firm
Correct Answer A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business
Your Answer A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business


True/False
Question A company is created by law and not by natural birth.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question The person to whom, Negotiable Instrument is transferred is entitled to
Correct Answer amount
Your Answer property


Multiple Choice Multiple Answer
Question In the absence of usage or custom of trade to the contrary, the implied authority of a partner does not empower him to
Correct Answer acquire movable property on behalf of the firm , transfer movable property belonging to the firm
Your Answer admit any liability in a suit or proceedings against the firm , transfer movable property belonging to the firm , withdraw a suit or proceeding filed on behalf of the firm


Multiple Choice Single Answer
Question Presumption of Negotiable Instrument are enumerated in
Correct Answer section 118 and 119
Your Answer section 118 and 119


Multiple Choice Multiple Answer
Question The memorandum of a company shall be
Correct Answer Printed , Divided into paragraphs numbered consecutively , Signed by each subscriber
Your Answer Printed , Divided into paragraphs numbered consecutively , Signed by each subscriber

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


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 , there must be an association of two or more persons


Multiple Choice Single Answer
Question The relationship of principal and agent is established amongst partners which is governed by
Correct Answer law of agency
Your Answer law of agency


Multiple Choice Multiple Answer
Question In the absence of usage or custom of trade to the contrary, the implied authority of a partner does not empower him to
Correct Answer Admit any liability in a suit or proceedings against the firm , Transfer movable property belonging to the firm , Withdraw a suit or proceeding filed on behalf of the firm
Your Answer Admit any liability in a suit or proceedings against the firm , Transfer movable property belonging to the firm , Withdraw a suit or proceeding filed on behalf of the firm

Posted in: Business Law (Set - VI)