Business Law 12

Business Law | SCDL Business Law Assignments





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


Select The Blank
Question Section 13 of the Negotiable Instrument Act gives ________ of Negotiable Instrument.
Correct Answer Meaning
Your Answer Meaning


True/False Business Law | SCDL Business Law Assignments

Question A sale is an executed contract whereas an agreement to sell is an executor contract.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question The sale of goods is the most common of all :-
Correct Answer Commercial contracts
Your Answer Commercial contracts


Match The Following Business Law | SCDL Business Law Assignments

Question Correct Answer Your Answer
Sale Exchange of goods for price Exchange of goods for price
Barter system 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


Multiple Choice Multiple Answer
Question Consent means :-
Correct Answer Assent of another , Assent to support a claim , Consent of the offeror to the contract
Your Answer Assent to support a claim , Consent of the offeror to the contract


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 The law relating to sale of immovable goods is contained in the Sale of Goods Act, 1930.
Correct Answer False
Your Answer False


Select The Blank Business Law | SCDL Business Law Assignments

Question ________ implies committing or threatening to commit any act forbidden by the Indian Penal Code.
Correct Answer Coercion
Your Answer Coercion


Multiple Choice Multiple Answer
Question In India, some of Negotiable Instruments by usage or custom of trade are :-
Correct Answer Government promissory notes , Bankers drafts , Pay off orders
Your Answer Government promissory notes , Bills of exchange


True/False
Question Consideration is required in formal contracts.
Correct Answer False
Your Answer True


True/False Business Law | SCDL Business Law Assignments

Question An insolvent person can accept or endorse a bill.
Correct Answer False
Your Answer False


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 Company


Multiple Choice Multiple Answer
Question An unregistered firm can institute a criminal proceeding for :-
Correct Answer The wrongful use of the trade mark , The 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 According to the Consumer Protection Act, 1986, a service includes :-
Correct Answer Financial service , Entertainment
Your Answer Financial service , Entertainment , Personal service


True/False Business Law | SCDL Business Law Assignments

Question "Law" means a set of rules and regulations in the nature of dictatorship.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question The monetary jurisdiction is based upon the :-
Correct Answer Amount of relief claimed by the complainant
Your Answer The value of goods or services


Multiple Choice Single Answer
Question Section 138 deals with :-
Correct Answer Dishonour of cheque
Your Answer Dishonour of cheque


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 Single Answer
Question A partnership at will can be dissolved by filing a suit for :-
Correct Answer Dissolution
Your Answer Dissolution
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LABELS: BUSINESS LAW (SET - V)
Business Law - 13
LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments

Question Following are the essentials of Coercion :-
Correct Answer Intention to induce someone to enter into an agreement , Threatening to detain property, unlawfully
Your Answer Intention to induce someone to enter into an agreement , Threatening to detain property, unlawfully


Multiple Choice Single Answer
Question Whatever a person can do himself, he can do the same through another person i.e.:-
Correct Answer His agent
Your Answer His agent


Multiple Choice Single Answer
Question In contract of sale the buyer becomes :-
Correct Answer Absolute owner of the property
Your Answer Part owner of the property


Multiple Choice Single Answer
Question The intention of the Negotiable Instrument Act is to govern :-
Correct Answer Legal relationship
Your Answer Legal relationship


True/False
Question An agency can be terminated after lapse of time or completion of the work.
Correct Answer True
Your Answer True


True/False Business Law | SCDL Business Law Assignments

Question Company is treated as a legal person distinct from its members.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question In Mohri Bibi vs Dharmo Ghosh the ruling was laid down by :-
Correct Answer Privy Council
Your Answer Federal Court


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


True/False
Question An agent does not have the right to stop goods in transit.
Correct Answer False
Your Answer True


Multiple Choice Single Answer
Question Competent parties means parties should be :-
Correct Answer Major in age
Your Answer Working at the same place


Multiple Choice Multiple Answer
Question Amendments made in the Consumer Protection Act in 1993 are :-
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 When the partners select to adopt certain firm name which is identical with the firm name already in existence, then such name is :-
Correct Answer Legal
Your Answer Illegal


True/False
Question A sub-agent acts under the direct control of his principal.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question The liability of companies on the basis of liability are :-
Correct Answer Unlimited companies , Limited by guarantee , Limited by shares
Your Answer Limited by guarantee , Limited by shares


Multiple Choice Multiple Answer
Question Amendments made in the Consumer Protection Act in 2002 include :-
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 recharging 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.


Multiple Choice Multiple Answer
Question Misrepresentation contains following ingredients :-
Correct Answer Positive assertion , Breach of duty without intention to deceive , Causing another party to make a mistake as to the substance of the thing
Your Answer Breach of duty without intention to deceive , Causing another party to make a mistake as to the substance of the thing


Multiple Choice Single Answer
Question Notice of the situations of the registered office of the company is required to be given to the registrar of the companies within :-
Correct Answer Thirty days
Your Answer Twenty days


Match The Following
Question Correct Answer Your Answer
Sale Exchange of goods for price Exchange of goods for price
Barter system Exchange of goods for goods Exchange of goods for goods
Sale of goods Act, 1930 Movable goods Immovable Goods
Caveat emptor Let the buyer beware Let the buyer beware


Select The Blank
Question An offer must create ________ relationship.
Correct Answer Legal
Your Answer Void


True/False
Question 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.
Correct Answer True
Your Answer False


Select The Blank
Question For creating ________ relationship the parties to the contract must have a will to seek for the help of law court in the case of breach of a contract.
Correct Answer Legal
Your Answer Legal


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


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 The monetary jurisdiction is based upon the :-
Correct Answer Amount of relief claimed by the complainant
Your Answer Amount of relief claimed by the complainant


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


Select The Blank
Question An agent can be held responsible for damages arising from his misconduct in the business of agency or ________.
Correct Answer Negligence
Your Answer Promise


Select The Blank
Question An order of the court asking a person to do or to abstain from doing a particular act, which is the subject matter of the contract, is known as ________.
Correct Answer Injunction
Your Answer Quasification


Match The Following
Question Correct Answer Your Answer
Minor Partner Admitted for profits only Can be formed at Will
Dissolution of a Partnership Death or Insanity of the partners Death or Insanity of the partners
Firm Partners Agents of the firm
Partner Agents of the firm Admitted for profits only
Partnership Can be formed at Will Partners


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


Multiple Choice Single Answer
Question In case of private limited company, minimum number of members is two while the maximum is :-
Correct Answer 50
Your Answer 50


Multiple Choice Multiple Answer
Question In India, some of Negotiable Instruments by usage or custom of trade are :-
Correct Answer Government promissory notes , Bankers drafts , Pay off orders
Your Answer Government promissory notes , Bankers drafts , Pay off orders


Multiple Choice Multiple Answer
Question Goods may be classified as :-
Correct Answer Existing goods , Future goods , Contingent goods
Your Answer Existing goods , Future goods , Contingent goods


True/False
Question Registration of firm is a condition precedent for filing the suit for seeking the remedy which arises out of contractual obligations.
Correct Answer True
Your Answer False


Multiple Choice Single Answer
Question General offers open for the world at large can be accepted by any person :-
Correct Answer Who complies with the conditions of the offer
Your Answer Who reads the advertisement


Select The Blank
Question In ________ contract, all the parties perform their promise.
Correct Answer An executed
Your Answer An executed


True/False
Question Convicts are disqualified from contracting by the law to which they are subject.
Correct Answer True
Your Answer False


Multiple Choice Multiple Answer
Question An unregistered firm can institute a criminal proceeding for :-
Correct Answer The wrongful use of the trade mark , The wrongful use of the firm name
Your Answer The wrongful use of the trade mark , The wrongful use of the firm name


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


Select The Blank
Question The partners continue to be liable as such to ________ for any act done by them.
Correct Answer Third party
Your Answer Co-owner


True/False
Question A Promissory Note contains conditional undertaking to pay a certain sum of money.
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


Select The Blank
Question A firm is a name given to the partners ________.
Correct Answer Collectively
Your Answer Collectively


Multiple Choice Single Answer
Question Partnership created at will of the partners is:-
Correct Answer Partnership at will
Your Answer Partnership at will


Select The Blank
Question Ratification is one of the ways of ________ agency.
Correct Answer Creating
Your Answer Checking


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


Select The Blank
Question Members of a club or a society are the ________ of each other.
Correct Answer Friends
Your Answer Friends


Multiple Choice Multiple Answer
Question Consent means :-
Correct Answer Assent of another , Assent to support a claim , Consent of the offeror to the contract
Your Answer Assent of another , Assent to support a claim , Consent of the offeror to the contract
LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Single Answer
Question In the Bill of Exchange, the person to whom the bill is made payable is called as
Correct Answer payee
Your Answer payee


True/False
Question A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price
Correct Answer True
Your Answer True


Select The Blank
Question The person acting as an agent on behalf of the principal should act ________.
Correct Answer honestly
Your Answer honestly


True/False
Question An intention to create legal relations is one of the most important criterions to establish a contract.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question "Every agreement and promise enforceable at law is a contract", This statement was made by -
Correct Answer Sir Fredrick Pollock
Your Answer Sir Fredrick Pollock


Multiple Choice Multiple Answer
Question According to the Consumer Protection Act, 1986, a person includes
Correct Answer Hindu undivided family , Co-operative society , Individual as well as juristic person
Your Answer Registered firm only , Hindu undivided family , Co-operative society


Multiple Choice Multiple Answer
Question Coercion means and includes
Correct Answer any act forbidden by the Indian Penal Code , any threatening to commit illegal act
Your Answer any act forbidden by the Indian Penal Code , any threatening to commit illegal act , act forbidden by any law


Multiple Choice Multiple Answer
Question Following are the essentials of Coercion
Correct Answer intention to induce someone to enter into an agreement , threatening to detain property, unlawfully
Your Answer threatening to detain property, unlawfully , there must be some relationship between the parties , It is mainly of moral character


Match The Following
Question Correct Answer Your Answer
Relationship of Master and servant No authority to bind No authority to bind
Relationship between the principal and the agent Fiduciary Commission Agent
An agent who is appointed to sell goods on behalf of the principal An auctioneer Marketing Agent
An agent appointed for selling or buying goods on behalf of his principal Commission Agent Dealer


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 The Articles of Association contains the
Correct Answer Rules , Regulations , Bye-laws
Your Answer Rules , Regulations , Bye-laws
Multiple Choice Single Answer
Question One of the essentials of a Bill of Exchange is that it
Correct Answer must be in writing
Your Answer must be in writing
True/False
Question The term business includes every lawful trade, occupation and profession.
Correct Answer True
Your Answer True


Match The Following
Question Correct Answer Your Answer
Appropriate Laboratory Recognised by Central Government Recognised by Central Government
Services Doesn't include contract of personal service Stock and share
Spurious goods Goods claimed to be genuine Doesn't include contract of personal service


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


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 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 The provisions of sale of goods were previously included in the Indian Contract Act, 1872.
Correct Answer True
Your Answer False


Multiple Choice Single Answer
Question Partnership at will can be dissolved by any partner by
Correct Answer Giving due notice to that effect to all other partners
Your Answer Giving due notice to that effect to all other partners


True/False
Question "Law" means a set of rules and regulations in the nature of dictatorship.
Correct Answer False
Your Answer False