Business Law 2

Multiple Choice Single Answer
Question A legal representative being holder of Negotiable Instrument can sue
Correct Answer after the death of the holder

Your Answer after the death of the holder

Multiple Choice Multiple Answer
Question A sale can be in case of
Correct Answer specific goods , existing goods

Your Answer specific goods , existing goods

Multiple Choice Multiple Answer
Question Goods includes
Correct Answer trade marks , good will

Your Answer trade marks , good will

Multiple Choice Multiple Answer
Question Under section 144, mode of service of summons are
Correct Answer by speed post , by courier services , by concerned police station
Your Answer by speed post , by concerned police station

Multiple Choice Multiple Answer
Question Goods means
Correct Answer birds , gas
Your Answer birds , gas

Multiple Choice Multiple Answer
Question A company is a legal personality and as such it can
Correct Answer Own its property in its own name , Enjoy its property in its own name , Dispose of its property in its own name
Your Answer Own its property in its own name , Enjoy its property in its own name , Dispose of its property in its own name

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

Match The Following
Question Correct Answer Your Answer
Minor's Agreement Void ab initio Void ab initio
Threatning to commit Coercion Coercion
Consideration Past, Present and Future Past, Present and Future
Mistake Fact and Law Fact and Law

Multiple Choice Single Answer
Question When an offer is made to world-at-large, the contract is
Correct Answer made with the person who signs or performs the terms and conditions of the offer
Your Answer made with the person who signs or performs the terms and conditions of the offer

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

Multiple Choice Multiple Answer
Question The acts or transactions made by the agent can be ratified if the acts or transaction are
Correct Answer illegal , criminal , void ab initio
Your Answer valid

Multiple Choice Multiple Answer
Question Conditions required to avoid a contract on the ground of supervening impossibilty of performance of the contract
Correct Answer the goods must have been perished before the risk is passed to the buyer , the loss is not caused by the wrongful act or default of either buyer or seller
Your Answer loss must be generic , the goods must have been perished before the risk is passed to the buyer

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 In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the
Correct Answer Official Assignee , Receiver
Your Answer Seller , Official Assignee

Multiple Choice Multiple Answer
Question Negotiable instrument recognised by law are
Correct Answer Bill of exchange , Cheque , Promissory Note
Your Answer Bill of exchange , Cheque , Promissory Note

True/False
Question A company can become a partner or can enter into a partnership agreement.
Correct Answer False
Your Answer False

Multiple Choice Single Answer
Question A Company, when registered with limited liability under the Companies Act 1956, shall be deemed to be a company
Correct Answer Limited by shares
Your Answer Limited by shares

Multiple Choice Multiple Answer
Question Liabilities of partners arises to third party
Correct Answer for wrongful acts of a partners , for misappropriation by its partners , for acts of the firm
Your Answer for wrongful acts of a partners , for acts of the firm

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 co-owners without the agreement to carry on the business , minors , insolvents

Multiple Choice Single Answer
Question Consideration or object of an agreement is lawful unless it is
Correct Answer forbidden by law
Your Answer prohibited by law

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

Select The Blank
Question The essential point about an agent's position is his ________ of making his principal answerable to third parties.
Correct Answer authority
Your Answer capacity

True/False
Question Special agent and Particular agent mean one and the same thing.
Correct Answer True
Your Answer False

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

Multiple Choice Multiple Answer
Question An unregistered firm can bring an action in any court of Law against
Correct Answer a partner who steals the property of the partnership firm , a partner who purposely damages the property of the partnership firm
Your Answer a partner who steals the property of the partnership firm , a partner who purposely damages the property of the partnership firm

Multiple Choice Single Answer
Question In order to convert a proposal into a promise the acceptance must be
Correct Answer absolute and unqualified
Your Answer communicated any time

Match The Following
Question Correct Answer Your Answer
Any person who for the consideration becomes the possessor of a promissory note Holder in due course Holder in due course
Negotiating Negotiable Instruments so as to bind all, except himself A minor Non-acceptance express authority endorsement in full
A partner accepting Negotiable Instrument Implied authority Implied authority
A person who can't accept or indorse a bill An insolvent An insolvent

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

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

Multiple Choice Multiple Answer
Question A company is a legal personality and as such it can
Correct Answer Own its property in its own name , Enjoy its property in its own name , Dispose of its property in its own name
Your Answer Own its property in its own name , Dispose of its property in its own name

Multiple Choice Single Answer
Question Company based on ownership is
Correct Answer Public company
Your Answer Public company

Multiple Choice Single Answer
Question The unpaid seller has a
Correct Answer right against the buyer
Your Answer right against the buyer

True/False
Question The Central Government may, by license direct the association to be registered which is formed as a limited company for promoting commerce, art etc.
Correct Answer True
Your Answer True

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 registrar

Match The Following
Question Correct Answer Your Answer
Unascertained goods Generic goods Generic goods
Unpaid seller Right of lien on goods Right of lien on goods
Future goods Agreement to sell Agreement to sell
Identified goods Ascertained goods Ascertained goods

Multiple Choice Single Answer
Question A condition may be reduced to where goods are
Correct Answer Goods are accepted by the buyer
Your Answer Goods are accepted by the buyer

Multiple Choice Single Answer
Question Consideration or object of an agreement is lawful unless it is
Correct Answer forbidden by law
Your Answer denied by law

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 When the property in goods is transferred from the seller to the buyer at once, the contract is called
Correct Answer A Sale
Your Answer A Sale

True/False
Question Partners can decide their rights and liabilities in the partnership deed.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Amendments made in the Consumer Protection Act in 1993 are
Correct Answer To add "services" relating to housing constructions , To enable filing class action complaints , To impose punishment on the complainant in cases of vexatious complaint.
Your Answer To add "services" relating to housing constructions , To enable filing class action complaints , To impose punishment on the complainant in cases of vexatious complaint.

Multiple Choice Multiple Answer
Question The unpaid seller loses his lien on the goods sold when
Correct Answer he delivers the goods to a carrier for the purpose of transmission to buyer and do not reserves the right of disposal of the goods , the seller voluntarily abandons his right of lien on goods
Your Answer he delivers the goods to a carrier for the purpose of transmission to buyer and do not reserves the right of disposal of the goods , the seller voluntarily abandons his right of lien on goods

Select The Blank
Question Issued capital can be defined as the ________ of shares which are offered to the public for subscription.
Correct Answer nominal value
Your Answer nominal value

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 Buyer

Multiple Choice Multiple Answer
Question The modes of termination of agency are
Correct Answer By completion of the agency business , By death of principal , By expiry of period or time
Your Answer By completion of the agency business , By death of principal , By expiry of period or time

Multiple Choice Multiple Answer
Question Goods Means
Correct Answer Debentures , Stocks & shares
Your Answer Actionable claims , Debentures

Multiple Choice Single Answer
Question The goods which are identified and agreed upon at the time of a contract of sale is made:
Correct Answer Specific goods
Your Answer Specific goods

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 Acquire movable property on behalf of the firm , Transfer movable property belonging to the firm

Multiple Choice Single Answer
Question The parties of the contract should be major in age according to
Correct Answer The law to which they are subject
Your Answer The law to which they are subject

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

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

True/False
Question The company law board may, at any time, by order, extend the time for the filing of documents.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question The unpaid seller has following rights against the buyer personally
Correct Answer suit for interest , repudiation of contract
Your Answer suit for interest , repudiation of contract