Monday, October 25, 2010

Business law - 19

This paper has been contributed by Ashita Thaker

THANKS TO : Ashita Thaker

1. The Indian Contract Act 1872 , does not cover all those duties which are not ______________ in nature.
a. Contractual
b. Obligatory
c. Acceptable
d. Void

2. Acceptance should be made in
a. Any manner irrespective of the fact that it was urged by a definite mode
b. Prescribed manner of the promise
c. The manner prescribed by the promisor and if not prescribed, in any reasonable manner
d. The manner prescribed by the agency

3. Match the following:

a. Appropriate Laboratory      1. Recognised by Central
b. Services                              2. Seller, traders
c. Goods                                 3. Stock and share
d. Spurious goods                   4. Goods claimed to be genuine
                                              5. Recognised by District Council
                                              6. Doesn't include contract of personal service       

4. Following are the essential of coercion
a. intention to induce someone to enter into an agreement
b. threatening to detain property, unlawfully
c. there must be some relationship between the parties
d. it is mainly related to moral character

5. An intention to create legal relations is one of the most important criteria to

establish a contract.
a. True
b. False

6. Under ratification, the principal need not exist at the time of ratifying the act of the agent.
a. True
b. False

7. Special resolution and confirmation by the ________ is required for alteration of the memorandum.
a. Company Law Board
b. Company Account Board
c. Company Stock Board
d. Company Human Resource Board

8. The distinction between fraud and misrepresentation is that
a. misrepresentation is committed intentionally while fraud is not
b. fraud is an intentional wrong while misrepresentation may be innocent
c. fraud renders a contract voidable but misrepresentation as void
d. fraud includes false representation while it is not false in misrepresentation

9. "An agreement creating and defining the obligations between the parties is a contract", this was stated by
a. Sir John Salmond
b. Sir Fredrick Pollock
c. Sir Austin Jane
d. Sir Savigny

10. Apparent authority and ostensible authority have different meanings
a. True
b. False

11. Following are the types of jurisdiction, which have been conferred on the state commission
a. Appellate
b. Supervisory
c. Pecuniary
d. Revisional

12. A company is
a. One of the forms of the business organisation
b. An artificial legal person
c. A separate legal entity
d. Created by local body

13. In a contract of sale goods can be exchanged for goods.
a. True
b. False

14. As per the Indian Partnership act, a partnership firm arises from
a. Status
b. Proposal
c. Contract
d. Court Order

15. If a partnership business is carried on continuous losses, the court may order to _________ the firm
a. Dissolve
b. Break
c. Continue
d. Transfer

16. A proposes by letter sent by post to sell a house to B at a certain price. The communication of the proposal is complete
a. when A dispatched the letter
b. when A forms his mind to dispatch it
c. when B receives the letter
d. when B acknowledges it

17. Where a cheque is crossed specially, the banker to whom it is crossed may again cross it specially to another banker, his agent, for collection.
a. True
b. False

18. Ordinary damages are known as
a. compensatory damages
b. vindictive damages
c. exemplary damages
d. nominal damages

19. Under a contract of sale, the property in goods is
a. Not transferred from the seller to the buyer
b. partly transferred from the seller to the buyer
c. immediately transferred from teh seller to the buyer
d. exchanged from the seller to the buyer

20. A cheque is always payable on
a. Demand
b. Order
c. Request
d. Promise

21. Goods means
a. Actinable claims
b. Debentures
c. Stocks and shares
d. Money

22. Under _________ influence the dominant party may hold a real authority over

the other party
a. undue
b. special
c. due
d. general

23. A company is a legal personality and as such it can
a. Jointly own property with shareholders
b. Own its property in its own name
c. Enjoy its property in its own name
d. Dispose off its property in its own name

24. Following are the conditions needed to prove that an act of a partner is an act of a partnership firm
a. Act done in personal capacity
b. An act done in an ordinary course of business of a partnership firm
c. Act must be related to the business of the firm
d. Act must have been done in the name and on behalf of the firm

Thursday, October 21, 2010

Performance & potential Management - 3

This solved paper has been contributed by Abhimanyu Mohanta

THANKS TO : Abhimanyu Mohanta


1. Councelling is the important toll a supervisor can use to improve performance and behavior (T)

2. It is recomondaded that feedback should be obtained as soon as training is over (T)

3. The management should make a charter of promotion policy & -------all the staff member

            -keep informed
4.In R&D dept the emphasis should be on Research and not on

5. From cultural prospective the meaning of performance measurement is bringing all about being
            -respected and needed

6. Before counseling make sure you can state clearly what would constitute?
            -acceptable performance
            -preferred performance
            -agreed performance
            -expected performance

7 Judgmental objectives focus on
            -providing feedback
            -expected performance standard
            -review methods.

8. Some systems are department oriented and some are
            -organization oriented
            -employee oriented
            -society oriented
            -people oriented
9. Self assessment is the best assessment (T)
10. Time is a constraint for all executive at the top (T)
11. A trainer will get a lot of opportunities to tackle the trainees with the application of
            -human relation

12. An employee needs a clear picture of what is expected of his as
            -an individual
            -member of a team
            -support person of a group
            -member of a organization
13. Motivate, inspire and encourage people to think correctively so that
            -potential can be converted into performance
            -people are engaged
            -people give better results
            -people are happy
14. Development users    --> Identification of individual need
      Administrative users  -->promotion, salary
      Organizational users  -->HR planning
      Documentation          -->helping to meet legal requirements

15. Performance appraisal process support and complements the training needs
            -implementation process
            -review process
            -assessment process
16. There are some long term plans in the company like
            -joint venture
            -out sourcing
            -company target

17. Important aspects of performance management is the provision of support to employees (T)

18. The common goal for all knowledge and service work should be to increase the value received by
19. Supervisors have the responsibility of ensuring that work gets done as per organizational

20. The feedback received has to be ----in that fashion only

21. People have
            -diverse ideas
            -self egos

22. Performance appraisal essentially helps to-------employees who are performing their assigned task
23. Succession planning helps to assess employees
            -counseling skills
            -coaching abilities
            -organizational requirement
24. Goal setting which subsequently become a standard should be


1. Ideas for demonstrating appreciation for employees are follows
            -recognition in the form of granting a pay hike
            -providing opportunity
            -recognition for performance
            -praising individual
2. The objective of context evaluation are
            -ultimate objectives
            -intermediate objectives
            -immediate objective
            -the result of action
3. The reason for making appraisals are
            -To know existing quality of manager
            -to put right man for right job
            -to restructure the organization
            -to give response to employee
4. Consistent ability to produce results over prolonged period of time and in a verity of assignment must
            -include mistake and failure
            -reveal a mans strength and weakness
            -provide opportunity for good performance
            -provide other employee to do thing
5. Only when a mans strength are known and understood, it make sense (T)
6. When objectives and goals are set & ……..are provided ,assessment should begin
7. Summarise the discussion & ……..on the action plan to meet the needs of employee development

8. Knowldge workers should be motivated to develop the drive for
            -self -betterment
            -self betterment
            -low interest
9. Power is the desire to
            -influence others
            -understand others
            -help others
            -Co –operate others
10. Non financial compensation is also expected which is in terms of
            -facilities for self and family
            -expense reimbursement
            -challenging work environment
11. Knowldge sharing should be
            -need for hour
            -requirement of the organization
            -action warranted
12. Objective set at the beginning of the year will not be change to suit
            -One convenience
            -change circumstances
            -current requirement
            -market requirements
13. The effort invested in establishing clear and challenging objectives will undoubtedly reflect on
            -the ultimate results
            -marketing management
            -sales management
            -personnel management
14. In many successful companies value driven corporate leader serve
            -as a role model
            -by setting standards for performance
            -by motivating employees
            -by not solving the problem
15. Always plan and prepare for the meeting in advance (T)
16. It is not necessary to have mutual agreement on each aspect (T)
17. Development is seen to be very effective amongst individuals who are open to ……. & learning from the feedback

18. What training facility can be provided towards development needs will be taken care are the major issues of
            -top management executives
            -middle management team
            -company employees
            -outside consultant
19. Every organization has to set high goal and --------
20. Team work /team goal ----à goal setting should be voluntary and not thrusted
     Team purpose               ----à understood and own by all team members
     Team communication  ----àhold meeting frequently
     Team role                     ----àunderstand the contribution to the success of the organization

21. Performance appraisal refers to what -----------------does.
            -an employee
            -a company
            -a subordinate
            -a manager
22. When appraisal done by direct boss he can assist and guide his subordinate in a convincing manner (T)

23. Progression meeting must be held at
            -stipulated time schedule
            -at frequent interval
            -as and when necessary
            -once in a quarter
24. During exit interview it is essential to discuss the cause in details (T)