LIST OF ATTEMPTED QUESTIONS AND ANSWERS
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
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
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 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 , There must
be an association of two or more persons
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 Admit any liability in a suit or proceedings against the firm ,
Transfer movable property belonging to the firm , Withdraw a suit
or proceeding filed on behalf of the firm
Your Answer
Acquire movable property on behalf of the firm , Transfer
movable property belonging to the firm
Select The Blank
Question
A ________ partner is like an undisclosed principal.
Correct Answer sleeping
Your Answer
sleeping
Select The Blank
Question
According to Prof. Hanney, "Partnership is the relating existing
between persons competent to make contracts who agree to
carry on a ________"
Correct Answer Lawful business is common with a view to private gain
Your Answer
Legal business is common with a view to private gain
True/False
Question
An alien friend can enter into partnership with an Indian subject.
Correct Answer True
Your Answer
True
Select The Blank
Question
Partnership firm can be dissolved by the order of ________
Correct Answer court
Your Answer
court
Select The Blank
Question
A minor, who is admitted to the benefits of partnership, must give
a public notice within ________ months.
Correct Answer six
Your Answer
five
Multiple Choice Multiple Answer
Question
Under section 144, mode of service of summons are
Correct Answer by speed post , by courier services , by concerned police station
Your Answer
by speed post , by courier services , by concerned police station
True/False
Question
"I promise to pay Mr.John Rs.500/- seven days after my
marriage with Miss Lucy" is a promissory note.
Correct Answer False
Your Answer
True
Multiple Choice Single Answer
Question
Which of the following is the essential element of the contract ?
Correct Answer free consent
Your Answer
coercion
Multiple Choice Multiple Answer
Question
Fraud means and includes following act Correct Answer promise to deceive other party , promise without intending to
perform
Your Answer
promise to deceive other party , concealing a fact believing to be
untrue , promise without intending to perform
Select The Blank
Question
Mistake regarding the ________ or the terms and conditions of
the contract is a Mistake of the fact.
Correct Answer subject matter
Your Answer
validity
Multiple Choice Single Answer
Question
A factor has a general
Correct Answer lien on the goods of his principal
Your Answer
control on the goods of his principal
Multiple Choice Multiple Answer
Question
Goods Means
Correct Answer Debentures , Stocks & shares
Your Answer
Debentures , Stocks & shares , Money
Multiple Choice Single Answer
Question
Where the transfer of property in the goods is to take place at a
future time it is called
Correct Answer Agreement to sell
Your Answer
Agreement to sell
Multiple Choice Single Answer
Question
Contingent goods are a type of
Correct Answer Future goods
Your Answer
Ascertained goods
Multiple Choice Single Answer
Question
A hire -purchase agrement is
Correct Answer Contract
Your Answer
Contract
Multiple Choice Single Answer
Question
Following is an implied condition
Correct Answer Condition as to title
Your Answer
Condition as to good faith
True/False
Question
A sale is an executed contract whereas an agreement to sell is
an executory contract.
Correct Answer True
Your Answer
True
Multiple Choice Multiple Answer
Question
The three ingredients in the performance of a contract of sale by
the seller are
Correct Answer Transfer of property in goods , The passing of the risk , Delivery
of goods
Your Answer
Transfer of property in goods , Holding of the goods , Delivery of
goods
Select The Blank
Question
Unpaid seller's right to stop the goods in transit arises only when
the buyer is ________
Correct Answer Bankrupt
Your Answer
Bankrupt
Multiple Choice Single Answer
Question
Existing may be further classified as
Correct Answer Specific goods
Your Answer
Specific goods
Multiple Choice Single Answer
Question
The unpaid seller has a
Correct Answer right against the goods
Your Answer
right against the goods
Multiple Choice Single Answer
Question
Where the property in goods has not been transferred, the
unpaid seller has the
Correct Answer right of stop the goods in transit
Your Answer
right of stop the goods in transit
True/False
Question
In a contract of sale goods can be exchanged for goods.
Correct Answer False
Your Answer
True
Multiple Choice Multiple Answer
Question
Following are the types of jurisdiction, which have been
conferred on the State Commission
Correct Answer Appellate , Supervisory , Revisional
Your Answer
Appellate , Supervisory , Pecuniary
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
Select The Blank
Question
Spurious goods means goods which are ________
Correct Answer fake
Your Answer
fake
Match The Following
Question
Correct Answer
Your Answer
Consumer Council
Quasi-Judicial bodies
Quasi-Judicial bodies
Quasi-judicial bodies of
consumer council
Observe principles of
natural justice
Legal body
Consumer
Buys goods for any
consideration
Consumer Protection Act, Protect the rights of the
1986
consumer
Buys goods for any
consideration
Protect the rights of the
consumer
Multiple Choice Multiple Answer
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
Your Answer
Companies limited by guarantee , Private companies limited by
shares , Holding company
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 Memorandum , The articles , Every other agreement
Multiple Choice Multiple Answer
Question
The Prospectus is
Correct Answer A document raising share capital , A Prospectus can be, any
notice , Issued to invite the subscription to shares
Your Answer
A Prospectus can be, any notice , Issued to invite the
subscription to shares
Multiple Choice Single Answer
Question
During the war, all the members of a private company were killed
while they were in general meeting in a bomb attack. Whether
the company will
Correct Answer Survive
Your Answer
Survive
Multiple Choice Single Answer
Question
Where the liability of the shareholders of a company is limited to
the extent of the unpaid amount on the shares held by them, the
company is known as a company
Correct Answer Limited by shares
Your Answer
True/False
Question
Limited company
Directors of a private company need to file their consent with the
registrar to act as director or sign an undertaking.
Correct Answer False
Your Answer
False
True/False
Question
Subsidiary company can hold shares and can acquire
membership of the holding company.
Correct Answer False
Your Answer
False
Select The Blank
Question
When the certificate of incorporation is obtained, the promoters
and directors of a ________ company invite the public to
subscribe to its shares.
Correct Answer public
Your Answer
public
Select The Blank
Question
The company does not possess ________ still it is a person in
the eyes of law.
Correct Answer fundamental rights
Your Answer
constitutional rights
True/False
Question
The membership of the association of company shall cease on
the dissolution of the firm.
Correct Answer True
Your Answer
True
True/False
Question
Directors of a private company need to file their consent with the
registrar to act as director or sign an undertaking.
Correct Answer False
Your Answer
False
True/False
Question
Legal controls, restrictions on public companies are more and
strict.
Correct Answer True
Your Answer
True/False
False
Question
If all the members of a company are married, the company
would not be a married person.
Correct Answer True
Your Answer
True
Select The Blank
Question
Issued capital can be defined as the ________ of shares which
are offered to the public for subscription.
Correct Answer nominal value
Your Answer
excess value
Match The Following
Question
Correct Answer
The memorandum of
Table B, C, D and E in
association of a company schedule 1
shall be in forms
Your Answer
Table X and Y in schedule
1
Change of the place of
company's registration
office from one state to
another
Alteration of Memorandum Change of place of
registered office outside a
state
Auditors Report
Accounts of the company Accounts of the company
Confirmation by the
Regional Director
Change of place of
registered office within a
state
Alteration of Memorandum