Friday, June 28, 2013

Business Law - 12



LIST OF ATTEMPTED QUESTIONS AND ANSWERS


True/False
Question Partnership is nothing but a psychological relationship existing between the partners.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Agent has duties towards principal in addition to :-
Correct Answer Conducting principal's business , Rendering accounts to principal , Communicating with the principal
Your Answer Conducting principal's business , Rendering accounts to principal , Communicating with the principal


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


Multiple Choice Single Answer
Question The registrar issues the letter of approval to approve the :-
Correct Answer Name of the company
Your Answer Name of the company


Select The Blank
Question If any ________ is present while forming the agency then the relationship of agency becomes contractual.
Correct Answer Consideration
Your Answer Consideration


Select The Blank
Question Future consideration is also known as ________ consideration.
Correct Answer Executory
Your Answer Foresee


Multiple Choice Multiple Answer
Question The Articles of Association contains the :-
Correct Answer Rules , Regulations , Bye-laws
Your Answer Rules , Regulations


True/False
Question The term business includes every lawful trade, occupation and profession.
Correct Answer True
Your Answer True


True/False
Question "I promise to pay Mr. Luies or Order Rs.1,500/-" is a promissory note.
Correct Answer True
Your Answer False


Select The Blank
Question The contract of agency between the principal and his agent is ________.
Correct Answer Enforceable
Your Answer Voidable


Multiple Choice Multiple Answer
Question According to Rule 3 of the Consumer protection rules, the Central Council consists of the following members :-
Correct Answer Minister in-charge of the department of home , Minister in-charge of department of Commerce and Industry , Minister in-charge consumer affairs in states
Your Answer Minister in-charge of department of Commerce and Industry , Minister in-charge of department of civil supplies , Minister in-charge consumer affairs in states


Select The Blank
Question Holding out means ________ leading another person to believe in something.
Correct Answer Falsely
Your Answer Properly


Select The Blank
Question Karta of Joint-Hindu family is ________ of his family.
Correct Answer Representative
Your Answer Owner


Multiple Choice Single Answer
Question For the formation of the contract of sale of goods, there should be :-
Correct Answer Two parties
Your Answer Two parties


True/False
Question Under ratification, principal need not exist at the time of ratifying the act of the agent.
Correct Answer False
Your Answer False


Select The Blank
Question A valid tender of performance should be ________.
Correct Answer Unconditional
Your Answer Unconditional


Multiple Choice Single Answer
Question A partner of a trading or non trading firm signs a Negotiable Instrument, liability incurs in :-
Correct Answer The name of the firm
Your Answer The name of the firm


Multiple Choice Multiple Answer
Question The communication of acceptance of an offer should be made to the :-
Correct Answer Offeror , Persons authorized by the offeror
Your Answer Offeror , Offeree , Persons authorized by the offeror


Multiple Choice Multiple Answer
Question Jurisdictions of the National Commission are :-
Correct Answer Monetary , Appellate , Supervisory and Revisional
Your Answer Appellate , Supervisory and Revisional , Monetary


Multiple Choice Single Answer
Question The goods, which are owned and possessed by the seller at the time of sale, are known as :-
Correct Answer Existing goods/Specific goods
Your Answer Existing goods/Specific goods


Select The Blank
Question The object of the Consumer Protection Act of 1986 is to educate the people so that they can find out ________ for their grievances
Correct Answer Legal remedies
Your Answer Legal remedies


Select The Blank
Question An agreement of agency must make clear the ________ of a person to act on behalf of another person.
Correct Answer Intention
Your Answer Contract


Select The Blank
Question The presumptions laid by Sec.118 & 119 of Negotiable Instrument Act do not arise where negotiable instrument is obtained by ________.
Correct Answer Fraud/Deceit
Your Answer Lawful Considerations


Match The Following
Question Correct Answer Your Answer

A company having control over a subsidiary company Holding company Articles of Association

Constitution and objects of the company Memorandum Existing company

Govern the internal affairs of the company Articles of Association Memorandum

Document includes any notice, circulation, advertisement etc. Prospectus Prospectus



Select The Blank
Question Dissolution of partnership involves a change in ________ of partners.
Correct Answer Relationship
Your Answer Relationship


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 Hindu undivided family , Co-operative society


Multiple Choice Single Answer
Question The law relating to sale of movable goods is contained in the :-
Correct Answer The Sale of Goods Act, 1930
Your Answer The Sale of Goods Act, 1930


True/False
Question The Registrar shall register the altered memorandum and certify the registration under his hand within one month from the date of filing such documents.
Correct Answer True
Your Answer True


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 can be communicated at any time


True/False
Question Minor do not have the right of access to and to inspect and copy any of the books of the firm.
Correct Answer True
Your Answer True


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 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 steals 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


True/False
Question Express or implied authority is conferred on the agent by the principal.
Correct Answer True
Your Answer True


Match The Following
Question Correct Answer Your Answer

Complaint of Consumer Any allegation in writing Complaint of criminal

Trade in relation to any goods Who distributes goods Who distributes goods

Manufacturer Who makes any goods Who makes any goods

Consumer Dispute Dispute between consumer and manufacturer or trader Dispute between consumer and manufacturer or trader



Multiple Choice Single Answer
Question Sometimes contracts are entered into on behalf of the company before its incorporation, such pre-incorporation contracts are :-
Correct Answer Binding
Your Answer Entered


Multiple Choice Multiple Answer
Question Promissory note must be in :-
Correct Answer In writing , Definite , Unconditional
Your Answer In writing , Definite , Uncertain


Multiple Choice Single Answer
Question Which of the following is not a mode of revocation of proposal ?
Correct Answer By promoting the contract
Your Answer By acceptor going bankrupt


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 State Council District Forum , Central Council


Multiple Choice Single Answer
Question Merely by reasons of any defect in the constitution of the council, no proceedings of the central council shall be :-
Correct Answer Invalid
Your Answer Valid


Multiple Choice Single Answer
Question The holder of the Negotiable Instrument has a right to sue in his :-
Correct Answer Own name
Your Answer Own name


True/False
Question The Holder in due course has the right to sue on the Negotiable Instrument in his own name for recovering the amount.
Correct Answer True
Your Answer True


True/False
Question Railway or S.T. Receipts, Dividend, Warrants, Railway Bonds are not Negotiable Instrument.
Correct Answer False
Your Answer True


Multiple Choice Multiple Answer
Question Agreement is a contract voidable at the option of the party to an agreement to make a mistake as to :-
Correct Answer The agreement , The contract subject to a specific conditions , The subject matter of the thing
Your Answer The contract subject to a specific conditions , The subject matter of the thing , The substance of the thing which is subject matter of the agreement


Multiple Choice Single Answer
Question The capacity to contract with an agent is the part of the law of :-
Correct Answer Statute
Your Answer Statute


Select The Blank
Question A ________ partner is like an undisclosed principal.
Correct Answer Sleeping
Your Answer Dynamic


Multiple Choice Single Answer
Question A company which is not a private company is :-
Correct Answer Public company
Your Answer Limited by guarantee


True/False
Question The company law board may, at any time, by order, extend the time for the filing of documents.
Correct Answer True
Your Answer True

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