Business Law Set6

Business Law | SCDL Business Law Assignments



Multiple Choice Single Answer
Question
Enforcement of contingent contract depends on
Correct Answer
Happening or Non-happening of the event
Your Answer
Happening of the event

Multiple Choice Single Answer
Question
In a sale, if the buyer becomes insolvent before he pays the price of the goods purchased, the person who can claim the delivery of the goods as the property in goods has been already transferred as a
Correct Answer
official assignee or receiver
Your Answer
official assignee or receiver

Select The Blank Business Law | SCDL Business Law Assignments

Question
When the ________ of contract becomes ________ , such contract need not be performed
Correct Answer
performance
Your Answer
cancellation
Correct Answer
impossible
Your Answer
possible

True/False
Question
A Cheque can be bearer, Order or crossed
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Following is an implied condition.
Correct Answer
Condition as to sale by sample
Your Answer
Condition as to sale by sample

Multiple Choice Single Answer Business Law | SCDL Business Law Assignments

Question
Dissolution by voluntary act of the partners, which includes
Correct Answer
dissolution by agreement
Your Answer
dissolution by agreement
Interview Questions http://mindgrillQ.blogspot.com




Question
Consideration can not be a past consideration.
Correct Answer
False
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
Question
When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________.
Correct Answer
accepted
Question
An agreement to sell takes place in the case of existing goods or specific goods.
Correct Answer
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
Question
As per S.2(1) (f) of the Consumer Protection Act, defect means any ________ in the quality of goods
Correct Answer
shortcoming
Question
The membership of the association of company shall cease on the dissolution of the firm.
Correct Answer
True
Question
There can not be any partnership where a business is carried on
Correct Answer
With a benevolent purpose , Where any one of the patterns is entitled to total profit earned.
Question
Selection committee for the appointment of the District Forum consists of
Correct Answer
President of the State Commission , Secretary of the Law Dept. of the state
Question
There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital.
Correct Answer
True
Question
The directors of a company have to file their consent with the ________ to act as director.
Correct Answer
registrar
Question
Unpaid seller's right to stop the goods in transit arises only when the buyer is ________
Correct Answer
Bankrupt
Question
A ________ is an artificial person and has a legal entity.
Correct Answer
Company
Question
The companies having Articles are
Correct Answer
Unlimited Company , Company limited by guarantee , Company limited by shares
Question
Issued capital can be defined as the ________ of shares which are offered to the public for subscription.
Correct Answer
nominal value
Question
Partnership is based on ________
Correct Answer
faith
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
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
Question
An agent was instructed by his principal to insure the goods, but he neglected to insure the goods. As a result, the principal had to suffer the loss. Who is responsible for the loss ?
Correct Answer
agent
Question
A Consumer has the following rights
Correct Answer
To get the education of the availability of legal remedies , Seek redressal against unfair trade practices , To be informed about quality, quantity, potency, purity, standard and price of goods
Question
Following persons can not be called partners
Correct Answer
minors , insolvents , co-owners without the agreement to carry on the business
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
Question
In the right of lien, the possession is retained by
Correct Answer
Unpaid seller
Question
The Indian Contract Act, 1872, does not cover all those duties which are not ________ in nature.
Correct Answer
contractual
Question
An unregistered firm can institute a suit against
Correct Answer
wrongful use of the trade mark , wrongful use of the firm name
Question
Following are the persons who cannot enter into partnership firm
Correct Answer
A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business
Question
During the continuance of the firm, a transfer by a partner of his interest is the first restricts the transferee to
Correct Answer
inspect the books of the firm , require accounts , interfere in the conduct of a business of a firm
Question
There are certain limitations to the principle of ratification which are
Correct Answer
where the principal does not have full knowledge at the fact , where the act to be ratified is illegal or void , where the ratification is not done within a reasonable time
Question
In an appeal to the National Commission the appellant shall submit
Correct Answer
Six copies of memorandum
Question
the vacancies arising from designation of the members of the Central Council shall be filled from the same category by the
Correct Answer
Central Government
Question
Where the partners agree to carry on the business for a definite period of time, the partnership is said to be
Correct Answer
for a fixed period
Question
In contract of sale the buyer becomes
Correct Answer
Absolute owner of the property
Question
In contract of sale
Correct Answer
ownership in the property is passed from the seller to the buyer.
Question
A Promissory Note contains conditional undertaking to pay a certain sum of money.
Correct Answer
False
True/False
Question
Stock is a synonym used for Shares.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
A company is a legal person with a perpetual succession
Correct Answer
it never dies , it can be put an end to only by process of law
Your Answer
it never dies , it can be put an end to only by process of law

Select The Blank
Question
________ is an invitation made to the ________
Correct Answer
Prospectus
Your Answer
Prospectus
Correct Answer
public
Your Answer
public

Multiple Choice Multiple Answer

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
Agreement is defined as a contract at its inception.
Correct Answer
True
Your Answer
True

Select The Blank
Question
________ is the ________ method of voting with the rule "one share one vote "
Correct Answer
poll
Your Answer
poll
Correct Answer
capitalistic
Your Answer
individualised

Multiple Choice Single Answer
Question
Agency can be created by
Correct Answer
Operation of law
Your Answer
Operation of law

Multiple Choice Single Answer
Question
Where the property in goods sold has been passed, the unpaid seller has the
Correct Answer
right to stop goods in transit
Your Answer
right to stop goods in transit

True/False
Question
A minor may draw, endorse, deliver and negotiate a negotiable instrument to bind other parties except himself
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Dissolution by the order of the Court at the suit of a partner on certain grounds, which include
Correct Answer
Willful or persistent breach of agreement by a partner
Your Answer
Willful or persistent breach of agreement by a partner

Select The Blank
Question
The agency can be ________ At any time by ________ agreement between the principal and his agent.
Correct Answer
terminated
Your Answer
individual
Correct Answer
mutual
Your Answer
mutual

Multiple Choice Multiple Answer
Question
The requirement of valid Memorandum of Association are that it
Correct Answer
is to be signed by at least seven persons in case of public company , is to be signed by at least two persons in case of private company
Your Answer
is to be signed by at least seven persons in case of public company , is to be signed by at least two persons in case of private company

Match The Following
Question
Correct Answer
Your Answer
An Outsider or a stranger who holds himself out or represents himself to be a partner of the partnership firm and induces outsider to give credit to the firm
partner by estoppel
partner by estoppel
A person who becomes a partner by entering into partnership agreement & is actual engaged in the conduct and management of the partnership business
Ostensible partner
Ostensible partner
A person who only lends his name to the partnership firm but does not invest any capital in the firm nor does take any interest in the affairs of the firm
Nominal Partner
Nominal Partner
When partners agree to share the profits of the partnership firm with any outsider, such An outsider is known as
Sub-Partner
Sub-Partner
A partner whose existence in the firm is kept secret from the outside world
Dormant Partner
Dormant Partner

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

Multiple Choice Multiple Answer
Question
A consumer is
Correct Answer
Nominee under a policy of life insurance , A Railway passenger , An employee who is member of Employees Provident Fund Scheme
Your Answer
Nominee under a policy of life insurance , A Railway passenger , An employee who is member of Employees Provident Fund Scheme

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

Select The Blank
Question
A meeting is ________ of a number of persons for ________ a lawful business having certain purpose or purposes
Correct Answer
an assembly
Your Answer
an assembly
Correct Answer
transacting
Your Answer
transacting

Multiple Choice Multiple Answer
Question
Following are the conditions to be fulfilled before a seller can be deemed to be an unpaid seller
Correct Answer
he must have an immediate right of action for the price , he must have sold goods against cash and the price must be due
Your Answer
he must have an immediate right of action for the price , he must have refused payment when tendered , he must have sold goods against cash and the price must be due

Multiple Choice Multiple Answer
Question
Following are the examples of statutory companies
Correct Answer
Reserve Bank Of India , Unit Trust Of India
Your Answer
Reserve Bank Of India , Unit Trust Of India

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

Match The Following
Question
Correct Answer
Your Answer
Sale
Exchange of goods for price
Exchange of goods for price
Barter Exchange
Exchange of goods for goods
Exchange of goods for goods
Sale of Goods Act, 1930
Movable goods
Movable goods
Caveat Emptor
Let the buyer beware
Let the buyer beware
Quiet possession
Implied Warranty
Implied Warranty

Multiple Choice Single Answer
Question
A consumer has right to be assured, wherever possible, access to services at
Correct Answer
competitive prices
Your Answer
competitive prices

Multiple Choice Multiple Answer
Question
Following are the characteristics of partnership at will
Correct Answer
partners are always free to break their relationship at their whim , it is for indefinite period
Your Answer
partners are always free to break their relationship at their whim , it is for indefinite period

True/False
Question
A commission agent is generally appointed for selling and buying goods on behalf of his principal
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Transmission of shares takes place due to
Correct Answer
death of a member , insolvency of a member , lunacy of a member
Your Answer
death of a member , lunacy of a member , minority of a member

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
acquire movable property on behalf of the firm , admit any liability in a suit or proceedings against the firm , transfer movable property belonging to the firm

Multiple Choice Multiple Answer
Question
Following are the persons who cannot enter into partnership firm
Correct Answer
A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business
Your Answer
A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business