Saturday, June 29, 2013

Business Law - 13



LIST OF ATTEMPTED QUESTIONS AND ANSWERS


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 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
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

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