Business Law - 3

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Single Answer
Question
In the right of lien, the possession is retained by
Correct Answer
Unpaid seller
Your Answer
Unpaid seller

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

True/False
Question
Even if all the members of a company are citizens of India, the company does not become a citizen of India.
Correct Answer
True
Your Answer
True

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
Three months

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

Multiple Choice Single Answer
Question
According to the Consumer Protection Act of 1986, goods means as defined under
Correct Answer
Sale of Goods Act, 1930
Your Answer
Sale of Goods Act, 1930

Select The Blank
Question
The registration fo partnership firm is ________.
Correct Answer
not compulsory
Your Answer
not compulsory

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

True/False
Question
Unenforceable agreements and illegal agreements mean one and the same thing.
Correct Answer
False
Your Answer
False

True/False
Question
The relation between a doctor and his patient is not fiduciary in nature.
Correct Answer
False
Your Answer
False

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

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

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