Business Law Set4

Business Law | SCDL Business Law Assignments




Multiple Choice Single Answer
Question
A public company doesn't have its own articles of association, it may adopt
Correct Answer
Table A as given in schedule-1
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
Question
Correct Answer
Your Answer
Minor Partner
Admitted for profits only
Admitted for profits only
Dissolution of a Partnership
Death or Insanity of the partners
Death or Insanity of the partners
Firm
Partners
Partners
Partner
Agents of the firm
Agents of the firm
Partnership
Can be formed at Will
Can be formed at Will
Question
The corporate veil under the Companies Act may be lifted in the following instances
Correct Answer
To investigate the real ownership of shares , To investigate the names and members of the company , To investigate whether the company is sham
Question
A club or a society is an ________ of persons
Correct Answer
association
Question
A partner is called as an outgoing partner by
Correct Answer
retirement , death , expulsion
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
A minor
A partner accepting Negotiable Instrument
Implied authority
Implied authority
A person who can't accept or indorse a bill
An insolvent
An insolvent
Question
Services rendered by the Post and Telephone Department are covered by the Consumer Protection Act, 1986
Correct Answer
True
Question
The meaning of the term “Caveat Emptor” is
Correct Answer
let the buyer beware
Question
A company can sue and also be sued by
Correct Answer
In its corporate name
Question
When the property in goods is transferred from the seller to the buyer at once, the contract is called
Correct Answer
A Sale
Question
If any ________ is present while forming the agency then the relationship of agency becomes contractual.
Correct Answer
consideration

Question
"I promise to pay Mr.John Rs.500/- seven days after my marriage with Miss Lucy" is a promissory note.
Correct Answer
False

Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments
Question
Promise may be fraud if it is made
Correct Answer
without intending to perform it , to deceive
Your Answer
to mislead other , to deceive , to misguide others

True/False
Question
If one of the parties to the contract dies the contract becomes void.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer Business Law | SCDL Business Law Assignments
Question
Waiver
Correct Answer
vDeliberate abandonment of a rights by the parties to the contract
Your Answer
An inferior right accruing to one of the parties as contract merges into a superior right accruing to the same party under the same or other contract.

Multiple Choice Single Answer
Question
The ownership capital of the company is divided into a number of
Correct Answer
Shares,
Your Answer
Shares,

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 Single Answer
Question
The term of central protection council is
Correct Answer
three years
Your Answer
five years

Select The Blank Business Law | SCDL Business Law Assignments
Question
A sale can only be in the case of ________ Or ________ goods.
Correct Answer
future
Your Answer
generic
Correct Answer
generic
Your Answer
ascertained

Multiple Choice Single Answer
Question
One of the characteristics of Company is that it is
Correct Answer
an artificial person
Your Answer
an artificial person

Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments
Question
Following is true about the Articles of Association
Correct Answer
it is required to be signed by the subscribers of the memorandum of association , is to be registered along with the memorandum , a public company may have its own articles of association
Your Answer
it is required to be signed by the subscribers of the memorandum of association , is to be registered along with the memorandum , a public company may have its own articles of association

True/False
Question
No consideration is required in formal contracts
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
A person is deemed to be dominated the will of another if
Correct Answer
a real or apparent authority over them , he stands in a fiduciary relation to other
Your Answer
some authority is held over the other party , a real or apparent authority over them , he stands in a fiduciary relation to other

Select The Blank
Question
When the person to whom the proposal is made ________ his assent thereto, the proposal is said to be ________
Correct Answer
Signifies
Your Answer
Signifies
Correct Answer
Accepted
Your Answer
Accepted

Match The Following Business Law | SCDL Business Law Assignments
Question
Correct Answer
Your Answer
Two parties
Contract of Sale
Agreement to sell
Monetary consideration
Price for the goods
Price for the goods
Unpaid Seller
Right of lien on goods
Contract of Sale
Future Goods
Agreement to sell
Right of lien on goods
Identified Goods
Ascertained Goods
Ascertained Goods

Select The Blank
Question
Any person claiming himself as a consumer must ________ that the services must have been ________ to him
Correct Answer
prove
Your Answer
prove
Correct Answer
rendered
Your Answer
provided

True/False
Question
An unpaid seller has a right against the goods but does not have any personal right against the buyer.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer Business Law | SCDL Business Law Assignments
Question
The rights & liabilities of an expelled partner
Correct Answer
are exactly same as that of a retiring partner
Your Answer
do not have any rights at all

Multiple Choice Single Answer
Question
If there is breach of a condition, the aggrieved party gets a right to.
Correct Answer
repudiate the contract
Your Answer
Discard the contract

Multiple Choice Single Answer
Question
Unless there is any agreement to the contrary, on the insolvency of any of the partners of the partnership firm, the firm
Correct Answer
is automatically dissolved
Your Answer
continues for a fixed period

Multiple Choice Single Answer
Question
Illusory consideration can also be called as
Correct Answer
deceptive
Your Answer
deceptive

Multiple Choice Single Answer
Question
In a private company shares can
Correct Answer
be but with restrictions transferred
Your Answer
not be transferred

Select The Blank Business Law | SCDL Business Law Assignments
Question
An Order of the Court asking a person to do or to ________ from doing a particular act, which is the subject matter of the contract, is known as ________
Correct Answer
Quasi
Your Answer
refrain
Correct Answer
Injunction
Your Answer
Injunction

True/False
Question
The estate of a deceased partner or the legal representatives of a deceased partner cannot be held liable for any act of the firm.
Correct Answer
True
Your Answer
True

Select The Blank
Question
________ is the ________ number of members to be present at the meetings to conduct the business of the meeting as required by law
Correct Answer
quorum
Your Answer
quorum
Correct Answer
minimum
Your Answer
minimum

Select The Blank
Question
As per Sec. 2 (1) (O) of the Consumer Protection Act, Service ________ Include rendering of any service under a contract of ________ service.
Correct Answer
doesnot
Your Answer
does
Correct Answer
personal
Your Answer
public

Multiple Choice Multiple Answer
Question
Following are the essentials of valid acceptance
Correct Answer
acceptance must be qualified , acceptance must be communicated to the offeror
Your Answer
acceptance must be qualified , acceptance can be communicated at any time , acceptance must be communicated to the offeror

True/False
Question
In case the object of an agency becomes unlawful, the agency cannot be terminated
Correct Answer
False
Your Answer
True

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 with intention to deceive , breach of duty without intention to deceive , causing another party to make a mistake as to the substance of the thing

Multiple Choice Multiple Answer
Question
The maker, acceptor or endorser respectively of a negotiable instrument is discharged from liability thereon by
Correct Answer
release , payment , non cancellation
Your Answer
non-acceptance , release , payment

Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments
Question
To turn an agreement into contract the consideration
Correct Answer
should be legal , should be lawful , should be law abiding
Your Answer
should be legal , should be lawful , should be law abiding

Select The Blank
Question
When the ________ of contract becomes ________ , such contract need not be performed
Correct Answer
performance
Your Answer
performance
Correct Answer
impossible
Your Answer
impossible

Select The Blank
Question
________ Is Any fault imperfection or shortcoming in quantity, quality, purity or standard to be ________ by or under any law for the time being in force under any contract express or implied is cla
Correct Answer
Defects
Your Answer
Defects
Correct Answer
maintained
Your Answer
maintained

True/False
Question
Bill of Exchange need not be stamped property
Correct Answer
True
Your Answer
False

Select The Blank
Question
A ________ is a Cheque drawn with a ________ date.
Correct Answer
Post-dated
Your Answer
Post-dated
Correct Answer
future
Your Answer
future

Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments
Question
One of the characteristics of Company is that it is
Correct Answer
an artificial person
Your Answer
national person , an artificial person , international person

Multiple Choice Single Answer
Question
Where a contract of sale is subject to any condition to be fulfilled by the seller, the buyer may
Correct Answer
Waive the condition
Your Answer
add new the condition

True/False
Question
Company can be termed as a Body Corporate.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The altered memorandum must be filed within
Correct Answer
three months of the company law boards order
Your Answer
one month of the company law boards order

Match The Following
Question
Correct Answer
Your Answer
Partner by holding-out
Partner by estoppel
Partner by estoppel
Dissolution of partnership
Completion of ventures
Completion of ventures
Right of a partner
To retire
To retire
Partner is liable
Loss caused by fraud
Loss caused by fraud
Sleeping Partner
Dormant Partner
Dormant Partner

Multiple Choice Single Answer
Question
an example of implied agency is
Correct Answer
Agency by Holding-out
Your Answer
Agency by Holding-out

Multiple Choice Multiple Answer Business Law | SCDL Business Law Assignments
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 from the elements which vitiates it , consent of the offeror to the contract

True/False
Question
An agent does not have the right to enter into contracts with third parties
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Negotiable Instruments recognized by usage are
Correct Answer
Hundies , S.T. Receipts for goods , Pay off Orders
Your Answer
Hundies , S.T. Receipts for goods , Postal Orders

Select The Blank
Question
Where a ________ promise is made to pay either cash or money’s worth for an uncertain event, it is known as ________ contract
Correct Answer
conditional
Your Answer
Wagering
Correct Answer
Wagering
Your Answer
Contingent