Business Law 5

Select The Blank
Question A proposal comes to an end by its ________.
Correct Answer rejection
Your Answer rejection


Multiple Choice Multiple Answer
Question Classification of companies based on the jurisdiction of functioning
Correct Answer A National Company , Multinational Company , Foreign Company
Your Answer A National Company , Multinational Company , Foreign 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 Official Assignee , Receiver


Multiple Choice Single Answer
Question Which of the following is not a void agreement ?
Correct Answer agreements relating to legal proceedings
Your Answer agreements relating to legal proceedings


True/False
Question The maximum number of persons in the case of a partnership firm carrying on banking business must not exceed twenty.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question The feature of the Contingent Contracts is that they
Correct Answer depend upon the circumstances, which makes them valid or void
Your Answer depend upon the circumstances, which makes them valid or void


Multiple Choice Multiple Answer
Question The purpose of not Negotiable crossing
Correct Answer to provide protection to the drawer of a cheque against loss or theft in the course of transit as well as dishonesty. , To safeguard the interest of bonafide holder of the cheque
Your Answer to provide protection to the drawer of a cheque against loss or theft in the course of transit as well as dishonesty. , To safeguard the interest of bonafide holder of the cheque


Multiple Choice Multiple Answer
Question No company shall be registered by name which has a name which is identical with
Correct Answer The name by which a company is in existence , A registered trade mark , A trade mark which is subject of an application for registration
Your Answer The name by which a company is in existence , A registered trade mark , A trade mark which is subject of an application for registration


True/False
Question Copies of memorandum and articles shall not be given to members.
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 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 Competent parties means parties should be
Correct Answer major in age
Your Answer in majority


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


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


Multiple Choice Single Answer
Question The essence of contract of sale is
Correct Answer sale of goods
Your Answer sale of goods


Select The Blank
Question The person who buys the goods for trading purposes is not a ________ under the Consumer Protection Act, 1986.
Correct Answer consumer
Your Answer consumer


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


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

True/False
Question A Cheque is a Bill of Exchange.
Correct Answer True
Your Answer True


Select The Blank
Question One man holds practically the ________ of the share capital of the one man company.
Correct Answer whole
Your Answer whole


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


Select The Blank
Question There should be a ________ and real necessity for creating an agency.
Correct Answer definite
Your Answer definite


Select The Blank
Question The presumptions laid by Sec.118 & 119 of Negotiable Instrument Act do not arise where negotiable instrument is obtained by ________
Correct Answer Fraud/Deceit
Your Answer Lawful Considerations


Multiple Choice Multiple Answer
Question Following are the conditions needed to prove an act of a partner is an act of a partnership firm
Correct Answer such a act be done in a ordinary course 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 such a act be done in a ordinary course 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


Match The Following
Question Correct Answer Your Answer
Fact and Law The types of "Mistake" The types of "Mistake"
An order of the court asking a person to do or abstain from doing a particular act, which is the subject matter of the contract Injuction Order Injuction Order
The Indian Contract Act, 1872 applies to whole of India except the state of Jammu and Kashmir Applicability Applicability
An agreement enforceable by law Contract Contract


Multiple Choice Single Answer
Question The goods, which are owned and possessed by the seller at the time of sale, are known as
Correct Answer Existing goods/Specific goods
Your Answer Existing goods/Specific goods


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 provisions of sale of goods were previously included in the Indian Contract Act, 1872.
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


True/False
Question Copies of memorandum and articles shall not be given to members.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question For obtaining recognition as an 'Appropriate Laboratory", the applicant shall send an application in the proforma prescribed by the
Correct Answer Bureau of Indian Standard
Your Answer Bureau of Indian Standard


Multiple Choice Multiple Answer
Question Articles of Association contains
Correct Answer Regulations of the company , Internal affairs of the company , Conduct of company's business
Your Answer Regulations of the company , Internal affairs of the company , Conduct of company's business


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


Multiple Choice Single Answer
Question In case of damages to the goods by a third party, only
Correct Answer owner can take action
Your Answer owner can take action


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 Multiple Answer
Question There can not be any partnership where a business is carried on
Correct Answer with a benevolent purpose , where any one of the partners is entitled to total profit earned
Your Answer to earn profitto earn profit , to sharing profits equally , where any one of the partners is entitled to total profit earned


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 wrongful use of the trade mark , wrongful use of the firm name , the partner for settlement of firm's account


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 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 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 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 Companies limited by guarantee , Private companies limited by shares , Holding company


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


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


Select The Blank
Question Mistake regarding the ________ or the terms and conditions of the contract is a Mistake of the fact.
Correct Answer subject matter
Your Answer validity


True/False
Question The writing of "Not Negotiable" is one and the same thing as that of special crossing.
Correct Answer False
Your Answer True


Multiple Choice Single Answer
Question The seller can file a suit against the buyer for the price of goods only after
Correct Answer the property in goods is transferred to the buyer
Your Answer the property in goods is transferred to the buyer


Multiple Choice Single Answer
Question If there is a breach of condition, a buyer has an option to claim
Correct Answer Damages
Your Answer Damages


True/False
Question The legal heir or representative of a dead consumer is given the right to become the complainant.
Correct Answer True
Your Answer True


Select The Blank
Question According to Prof. Hanney, "Partnership is the relating existing between persons competent to make contracts who agree to carry on a ________"
Correct Answer Lawful business is common with a view to private gain
Your Answer Lawful business is common with a view to private gain


True/False
Question The subscriber of the memorandum of a company on its registration shall be entered in its register of members as member.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question The ingredients of the proposal are
Correct Answer communication by one to another , to do or to abstain from doing something , the object should be to take assent of another
Your Answer communication by one to another , to do or to abstain from doing something , the object should be to take assent of another

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