Business Law 4

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

True/False
Question A person who merely gives an advice to another person in matters of business, does not thereby becomes his agent.
Correct Answer True
Your Answer True

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

Multiple Choice Multiple Answer
Question The three ingredients in the performance of a contract of sale by the seller are
Correct Answer Transfer of property in goods , The passing of the risk , Delivery of goods
Your Answer Transfer of property in goods , The passing of the risk , Delivery of goods

True/False
Question Consideration can not be a past consideration.
Correct Answer False
Your Answer True

Multiple Choice Multiple Answer
Question A company may, by special resolution, alter the provisions of its memorandum so as to change the objects of the company so far as may be required to enable it
Correct Answer Carry on its business more economically , Amalgamate with any other company , Attain its main purpose by new or improved means
Your Answer Carry on its business more economically , Amalgamate with any other company , Attain its main purpose by new or improved means

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

Multiple Choice Single Answer
Question The maximum number of persons in case of partnership firm carrying on any business other than banking business must not exceed
Correct Answer Twenty
Your Answer Twenty

True/False
Question An agreement to sell takes place in the case of existing goods or specific goods.
Correct Answer False
Your Answer False

True/False
Question Specific goods are those which are identified and agreed upon at the time of a contract of sale is made.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question If the principal comes to know that the agent has dishonestly concealed from him any material fact, the principal
Correct Answer can repudiate the transaction , may affirm such transaction , may claim damages for loss
Your Answer can repudiate the transaction , may affirm such transaction , may claim damages for loss

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

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 Single Answer
Question People purchasing the commodities for the purpose of trading is
Correct Answer trader
Your Answer trader

Multiple Choice Single Answer
Question A Company is created by
Correct Answer Law
Your Answer Law

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 , a partner who wrongfully deals with the assets of the firm

Multiple Choice Single Answer
Question The relation of partnership arises from
Correct Answer contract
Your Answer contract

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 Following are the agencies of a three tier system of consumer disputes redressal agencies
Correct Answer State commission , National commission , District Forum
Your Answer State commission , National commission , District Forum

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 , enter into partnership on behalf of the firm

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 All illegal agreements are ________ but all void agreements are not illegal.
Correct Answer void
Your Answer void

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 authority

Multiple Choice Single Answer
Question Under the Indian Contract Act a person of sound mind is the one capable of
Correct Answer Understanding the agreement, he is involved in
Your Answer Understanding the agreement, he is involved in

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 Amendments made in the Consumer Protection Act in 2002: inclusion of services availed for commercial purposes from the purview of the consumer dispute redressal agencies
Correct Answer Provision for substitution of legal heir or representative as a party to the complainant in the event of the death of the opposite party , Provision for recovery of amounts ordered to be paid by consumer redressal agencies as arrears of land revenue , Provision for charging of fee in respect of complaints filed before the consumer redressal agencies
Your Answer Provision for substitution of legal heir or representative as a party to the complainant in the event of the death of the opposite party , Provision for recovery of amounts ordered to be paid by consumer redressal agencies as arrears of land revenue , Provision for charging of fee in respect of complaints filed before the consumer redressal agencies

Multiple Choice Multiple Answer
Question Amendments made in the Consumer Protection Act in 1993:
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 Single Answer
Question The term of Central Protection Council is
Correct Answer Three years
Your Answer Three years

Multiple Choice Multiple Answer
Question A minor admitted to the benefits of partnership is
Correct Answer entitled for the profits of agreed upon , not personally liable for any act of firm , not entitled to sue partners for account
Your Answer entitled for the profits of agreed upon , not personally liable for any act of firm , not entitled to sue partners for account

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

Select The Blank
Question According to Salmond and ________, a promise without consideration is a gift and one made with consideration is a bargain.
Correct Answer Winfield
Your Answer Winfield

Multiple Choice Multiple Answer
Question Following persons cannot become a partners
Correct Answer Corporation , an alien enemy with an Indian subject , company
Your Answer an alien enemy with an Indian subject , an alien friend with an Indian subject

True/False
Question There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital.
Correct Answer True
Your Answer False

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

Select The Blank
Question When the certificate of incorporation is obtained, the promoters and directors of a ________ company invite the public to subscribe to its shares.
Correct Answer public
Your Answer public

Multiple Choice Single Answer
Question A Company is created by
Correct Answer Law
Your Answer Law

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 General agents are the persons who enjoy a general authority to do everything in the course of their agency.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question Misrepresentation means and includes
Correct Answer positive assertion of that which is not true
Your Answer undue influence on parties

Multiple Choice Multiple Answer
Question A Consumer has following rights:
Correct Answer Education about the availability of legal remedies , seek redreesal against unfair trade practices , right to be informed quality, quantity, potency, purity, standard and price of goods
Your Answer Education about the availability of legal remedies , seek redreesal against unfair trade practices , right to be informed quality, quantity, potency, purity, standard and price of goods

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 Special resolution and confirmation by ________is required for alteration of Memorandum.
Correct Answer Company Law Board
Your Answer Company Law Board

Match The Following
Question Correct Answer Your Answer
Cannot enter into partnership Two partnership firms Two partnership firms
Giving due notice Dissolves partnership at will Dissolves partnership at will
Partnership Deed Domicile of partnership firm Domicile of partnership firm
Not mandatory Registration of partnership Registration of partnership
Partnership firm Can be sued in its own name Can be sued in its own name

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

Multiple Choice Multiple Answer
Question Advantage of crossing the Cheque
Correct Answer To reduce the risk of unauthorized person to get the payment of such Cheque. , To safeguard the interest of bonafide holder of the cheque
Your Answer To reduce the risk of unauthorized person to get the payment of such Cheque. , To safeguard the interest of bonafide holder of the cheque

True/False
Question A trader is a middle man bringing the buyer and seller together and receiving any commission for services rendered by him.
Correct Answer False
Your Answer True

True/False
Question There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital.
Correct Answer True
Your Answer False

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

Multiple Choice Multiple Answer
Question Certain effects of the insolvency of a partner are as follows
Correct Answer An insolvent partner ceases to be a partner , The partnership firm dissolve on the insolvency of any partner
Your Answer An insolvent partner ceases to be a partner , Firm is held liable for any acts of insolvent after the adjudication

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

No comments:

Post a Comment