Multiple Choice Multiple Answer
Question
Articles of Association contains
Correct Answer Regulations of the company , Internal affairs of the company , Conduct of
company's business
Your Answer
Outside affairs of the company , Regulations of the company , Conduct of
company's business
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's agent , Seller , Official Assignee , Receiver
Multiple Choice Single Answer
Question
A mistake as to a law not in force in India is
Correct Answer void
Your Answer
voidable
Multiple Choice Single Answer
Question
A breach of a condition may be treated as breach of
Correct Answer Warranty
Your Answer
Proposal
Multiple Choice Multiple Answer
Question
Following are the element which constitute a partnership firm
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 , The main object of
carrying on the business must be the sharing of liabilities for individual
profits , There must be an association of two or more persons
Multiple Choice Multiple Answer
Question
A Company shall, on being so required by a member, send to him a copy
of following documents
Correct Answer The Memorandum , The articles , Every other agreement
Your Answer
The articles , Every other agreement , Share of profits
Select The Blank
Question
Future consideration is also known as ________ consideration.
Correct Answer executory
Your Answer
executory
Multiple Choice Single Answer
Question
The National Commission has the power to entertain appeals against the
orders of any
Correct Answer State Commission
Your Answer
Civil Court
True/False
Question
Existing goods are those goods, which are owned and possessed by the
seller at the time of sale.
Correct Answer True
Your Answer
True
Multiple Choice Single Answer
Question
When the time is not specified for the delivery of goods, the goods must be
delivered.
Correct Answer Reasonable time
Your Answer
Reasonable time
True/False
Question
If all the members of a company are married, the company would not be a
married person.
Correct Answer True
Your Answer
False
Select The Blank
Question
Partnership business carried on continuous losses, the court may order to
________ the firm.
Correct Answer dissolve
Your Answer
dissolve
Multiple Choice Single Answer
Question
When the goods are very bulky in nature then they are delivered in a
Correct Answer symbolic manner
Your Answer
symbolic manner
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 can precede an offer , acceptance must be qualified ,
acceptance must be communicated to the offeror
Multiple Choice Single Answer
Question
Mr. Manik appoints Mr. Naveen as his agent to sell the goods at
Rs.10,000/- on his behalf. Mr. Naveen sells the goods for Rs.12,000/- who
is liable to account for it to
Correct Answer Mr. Naveen
Your Answer
Mr. Manik himself
Multiple Choice Multiple Answer
Question
A sale can be in case of
Correct Answer Specific goods , Existing goods
Your Answer
Specific goods , Future goods , Existing goods
Select The Blank
Question
Whenever the term illegal contract is used, it involves ________
Correct Answer inconsistency
Your Answer
voidity
True/False
Question
Companies can be registered with undesirable names.
Correct Answer False
Your Answer
True
Select The Blank
Question
Articles are ________ to and controlled by the memorandum.
Correct Answer subordinate
Your Answer
equivalent
True/False
Question
The principal can ratify unauthorised act of an agent.
Correct Answer False
Your Answer
True
True/False
Question
A contract of sale may either be a sale or an agreement to sell.
Correct Answer True
Your Answer
True
Multiple Choice Multiple Answer
Question
The order of the Commission can be set aside by
Correct Answer The Supreme Court , The National Commission
Your Answer
The Supreme Court , The National Commission , Central Council
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 , Free service , Personal service
Match The Following
Question
Correct Answer
Your Answer
Inadequacy in nature and
manner of performance
Deficiency in service
Fault, Imperfection or
shortcoming
Manipulation of Price
Restrictive Trade Practice
Unfair Trade Practice
Falsely represents that the
services are of a particular
quality
Unfair Trade Practice
unfair labour practice
Defect in goods
Fault, Imperfection or
shortcoming
Deficiency in service
Multiple Choice Multiple Answer
Question
An unregistered firm can bring an action in criminal court 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 purposely damages the property of the partnership firm , A
partner who wrongful deals with the assets of the firm , A partner who uses
the firm name for gaining personal profits
Select The Blank
Question
As per S.2(1) (f) of the Consumer Protection Act, defect means any
________ in the quality of goods
Correct Answer shortcoming
Your Answer
shortcoming
Multiple Choice Single Answer
Question
Where future Negotiability of Negotiable Instrument is restricted such
endorsement is called
Correct Answer restrictive endorsement
Your Answer
restrictive endorsement
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 Injuction
Your Answer
Specification
Multiple Choice Single Answer
Question
In case of damages to the goods by a third party, only
Correct Answer owner can take action
Your Answer
buyer can take action
True/False
Question
Ratification can be only for a part of the act of the agent.
Correct Answer False
Your Answer
True
True/False
Question
No company shall be registered by a name which, in the opinion of the
central government is undesirable.
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
True/False
honestly
Question
The statement in lieu of prospectus is prepared only for advertising
purpose.
Correct Answer False
Your Answer
True
True/False
Question
Express or implied authority is conferred on the agent by the principal.
Correct Answer True
Your Answer
True
Select The Blank
Question
An agency is based upon the ________
Correct Answer consent
Your Answer
consent
Multiple Choice Multiple Answer
Question
A company has continuity of life. Its life is not affected by
Correct Answer Death , Lunacy , Insolvency
Your Answer
Death , Lunacy , Insolvency , Wound up
Select The Blank
Question
There are certain relations, which are not created by contracts but are
upheld by law, which are known as ________ contracts.
Correct Answer Quasi
Your Answer
Quasi
Multiple Choice Single Answer
Question
a contract of sale a condition may be reduced to warranty where
Correct Answer There is a voluntary waiver of condition
Your Answer
There is a fulfillment of condition
True/False
Question
Directors are allowed to borrow from the public companies.
Correct Answer False
Your Answer
True
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 , Bills of exchange
Multiple Choice Single Answer
Question
Right to withhold the delivery of goods is similar to and co-extensive with
the right of
Correct Answer stoppage of goods in transit
Your Answer
stoppage of goods in transit
Select The Blank
Question
A proposal comes to an end by its ________.
Correct Answer rejection
Your Answer
acceptance
Multiple Choice Single Answer
Question
A Company is registered as an
Correct Answer Artificial person
Your Answer
Artificial person
Multiple Choice Single Answer
Question
A company can sue and also be sued by
Correct Answer In its corporate name
Your Answer
In its corporate name
Match The Following
Question
Correct Answer
Your Answer
Unlawful Business
Dissolution of Partnership
Dissolution of Partnership
Sub-partner
Sharing of profits by outsiders Sharing of profits by outsiders
Partnership
Association of two or more
persons
Association of two or more
persons
Partners have to be
Competent
Competent
Partner lending his name only Nominal partner
Nominal partner
Multiple Choice Multiple Answer
Question
There was a contract for sale of goods. Delivery was to be given in
october. Owing to a strike in the port of loading, the goods were not
shipped until November. The buyers are entitled to
Correct Answer Repudiate the contract , Recind the contract
Your Answer
Repudiate the contract , Modify the contract , Recind the contract , Rectify
the contract