Business Law - A02

LIST OF ATTEMPTED QUESTIONS AND ANSWERS BL3

Select The Blank

Question All illegal agreements are ________ but all void agreements are not illegal.

Correct Answer void

Your Answer void

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

Multiple Choice Single Answer

Question Under the Indian Contract Act a person of sound mind is the one capable of

Correct Answer Understanding the agreement, he is involved in

Your Answer Understanding the agreement, he is involved in

True/False

Question The law relating to sale of immovable goods is contained in the Sale of Goods Act,

1930.

Correct Answer False

Your Answer False

Multiple Choice Multiple Answer

Question Amendments made in the Consumer Protection Act in 2002: inclusion of services

availed for commercial purposes from the purview of the consumer dispute redressal agencies

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

charging 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 , Provision for

charging of fee in respect of complaints filed before the consumer redressal agencies

Multiple Choice Multiple Answer

Question Amendments made in the Consumer Protection Act in 1993:

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 The term of Central Protection Council is

Correct Answer Three years

Your Answer Three years

Multiple Choice Multiple Answer

Question A minor admitted to the benefits of partnership is

Correct Answer entitled for the profits of agreed upon , not personally liable for any act of firm ,

not entitled to sue partners for account

Your Answer entitled for the profits of agreed upon , not personally liable for any act of firm ,

not entitled to sue partners for account

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

Select The Blank

Question According to Salmond and ________, a promise without consideration is a gift and

one made with consideration is a bargain.

Correct Answer Winfield

Your Answer Winfield

Multiple Choice Multiple Answer

Question Following persons cannot become a partners

Correct Answer Corporation , an alien enemy with an Indian subject , company

Your Answer an alien enemy with an Indian subject , an alien friend with an Indian subject

True/False

Question There are two types or kinds of capital of a company, i.e. owned capital and

borrowed capital.

Correct Answer True

Your Answer False

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

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

Multiple Choice Single Answer

Question A Company is created by

Correct Answer Law

Your Answer Law

Multiple Choice Single Answer

Question To be deemed as an unpaid seller the seller must

Correct Answer have sold the goods against cash and the price must be due

Your Answer have sold the goods against cash and the price must be due

True/False

Question General agents are the persons who enjoy a general authority to do everything in the

course of their agency.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question Misrepresentation means and includes

Correct Answer positive assertion of that which is not true

Your Answer undue influence on parties

Multiple Choice Multiple Answer

Question A Consumer has following rights:

Correct Answer Education about the availability of legal remedies , seek redreesal against

unfair trade practices , right to be informed quality, quantity, potency, purity, standard and price of

goods

Your Answer Education about the availability of legal remedies , seek redreesal against unfair

trade practices , right to be informed quality, quantity, potency, purity, standard and price of

goods

Multiple Choice Multiple Answer

Question A company is registered as an artificial person. It has no

Correct Answer Body , Soul , Conscience

Your Answer Body , Soul , Conscience

Select The Blank

Question Special resolution and confirmation by ________is required for alteration of

Memorandum.

Correct Answer Company Law Board

Your Answer Company Law Board

Match The Following

Question Correct Answer Your Answer

Cannot enter into partnership Two partnership firms Two partnership firms

Giving due notice Dissolves partnership at will Dissolves partnership at will

Partnership Deed Domicile of partnership firm Domicile of partnership firm

Not mandatory Registration of partnership Registration of partnership

Partnership firm Can be sued in its own name Can be sued in its own name

True/False

Question The provisions of sale of goods were previously included in the Indian Contract Act,

1872.

Correct Answer True

Your Answer True

True/False

Question A company is created by law and not by natural birth.

Correct Answer True

Your Answer True

Multiple Choice Multiple Answer

Question Advantage of crossing the Cheque

Correct Answer To reduce the risk of unauthorized person to get the payment of such Cheque.

, To safeguard the interest of bonafide holder of the cheque

Your Answer To reduce the risk of unauthorized person to get the payment of such Cheque. ,

To safeguard the interest of bonafide holder of the cheque

True/False

Question A trader is a middle man bringing the buyer and seller together and receiving any

commission for services rendered by him.

Correct Answer False

Your Answer True

True/False

Question There are two types or kinds of capital of a company, i.e. owned capital and

borrowed capital.

Correct Answer True

Your Answer False

Select The Blank

Question An agent is simply blank a ________ between his principal and the third party.

Correct Answer connecting link

Your Answer connecting link

Multiple Choice Multiple Answer

Question Certain effects of the insolvency of a partner are as follows

Correct Answer An insolvent partner ceases to be a partner , The partnership firm dissolve on

the insolvency of any partner

Your Answer An insolvent partner ceases to be a partner , Firm is held liable for any acts of

insolvent after the adjudication

Multiple Choice Multiple Answer

Question The partner who is illegally expelled

Correct Answer can claim re-instatement , can sue the firm for the refund of his share in the

profits as well as profits

Your Answer can claim re-instatement , can sue the firm for the refund of his share in the

profits as well as profits

Select The Blank

Question A proposal comes to an end by its ________.

Correct Answer rejection

Your Answer rejection

Multiple Choice Multiple Answer

Question Classification of companies based on the jurisdiction of functioning

Correct Answer A National Company , Multinational Company , Foreign Company

Your Answer A National Company , Multinational Company , Foreign Company

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 Official Assignee , Receiver

Multiple Choice Single Answer

Question Which of the following is not a void agreement ?

Correct Answer agreements relating to legal proceedings

Your Answer agreements relating to legal proceedings

True/False

Question The maximum number of persons in the case of a partnership firm carrying on

banking business must not exceed twenty.

Correct Answer False

Your Answer False

Multiple Choice Single Answer

Question The feature of the Contingent Contracts is that they

Correct Answer depend upon the circumstances, which makes them valid or void

Your Answer depend upon the circumstances, which makes them valid or void

Multiple Choice Multiple Answer

Question The purpose of not Negotiable crossing

Correct Answer to provide protection to the drawer of a cheque against loss or theft in the

course of transit as well as dishonesty. , To safeguard the interest of bonafide holder of the

cheque

Your Answer to provide protection to the drawer of a cheque against loss or theft in the course

of transit as well as dishonesty. , To safeguard the interest of bonafide holder of the cheque

Multiple Choice Multiple Answer

Question No company shall be registered by name which has a name which is identical with

Correct Answer The name by which a company is in existence , A registered trade mark , A

trade mark which is subject of an application for registration

Your Answer The name by which a company is in existence , A registered trade mark , A trade

mark which is subject of an application for registration

True/False

Question Copies of memorandum and articles shall not be given to members.

Correct Answer False

Your Answer False

Multiple Choice Multiple Answer

Question Following are the conditions needed to prove that an act of a partner is an act of a

partnership firm

Correct Answer an act be done in an ordinary course of business 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 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 Single Answer

Question Competent parties means parties should be

Correct Answer major in age

Your Answer in majority

Select The Blank

Question When the notice of stoppage in transit is given by the seller to the ________in

possession of goods, the latter must re-deliver the goods to the seller.

Correct Answer Carrier

Your Answer Carrier

True/False

Question Special agent and Particular agent mean one and the same thing.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question The essence of contract of sale is

Correct Answer sale of goods

Your Answer sale of goods

Select The Blank

Question The person who buys the goods for trading purposes is not a ________ under the

Consumer Protection Act, 1986.

Correct Answer consumer

Your Answer consumer

Multiple Choice Multiple Answer

Question Every Prospectus shall state the matters specified in part I of schedule II of the

Companies Act issued by

Correct Answer Or on behalf of a company , Or on behalf of any person engaged in formation

of company , Or on behalf of any person interested in formation of company

Your Answer Or on behalf of a company , Or on behalf of any person engaged in formation of

company , Or on behalf of any person interested in formation of company

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

LIST OF ATTEMPTED QUESTIONS AND ANSWERS KBL1

True/False

Question A Cheque is a Bill of Exchange.

Correct Answer True

Your Answer True

Select The Blank

Question One man holds practically the ________ of the share capital of the one man

company.

Correct Answer whole

Your Answer whole

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 Limited companies can be formed for promoting

Correct Answer Commerce , Art , Religion

Your Answer Commerce , Art , Religion

Select The Blank

Question There should be a ________ and real necessity for creating an agency.

Correct Answer definite

Your Answer definite

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

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

Match The Following

Question Correct Answer Your Answer

Fact and Law The types of "Mistake" The types of "Mistake"

An order of the court asking a person to do or abstain from doing a particular act, which is the

subject matter of the contract Injuction Order Injuction Order

The Indian Contract Act, 1872 applies to whole of India except the state of Jammu and Kashmir

Applicability Applicability

An agreement enforceable by law Contract Contract

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

True/False

Question Alteration of memorandum or articles etc. to be noted in every copy.

Correct Answer True

Your Answer True

True/False

Question The provisions of sale of goods were previously included in the Indian Contract Act,

1872.

Correct Answer True

Your Answer True

Select The Blank

Question The directors of a company have to file their consent with the ________ to act as

director.

Correct Answer registrar

Your Answer registrar

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 For obtaining recognition as an 'Appropriate Laboratory", the applicant shall send an

application in the proforma prescribed by the

Correct Answer Bureau of Indian Standard

Your Answer Bureau of Indian Standard

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 Regulations of the company , Internal affairs of the company , Conduct of

company's business

Multiple Choice Single Answer

Question An Association of many persons who contribute money or money's worth to a

common stock and employ it for a common purpose. It is known as a

Correct Answer Company

Your Answer Partnership Business

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 owner can take action

Match The Following

Question Correct Answer Your Answer

Minor's Agreement Void ab initio Void ab initio

Threatning to commit Coercion Coercion

Consideration Past, Present and Future Past, Present and Future

Mistake Fact and Law Fact and Law

Multiple Choice Multiple Answer

Question There can not be any partnership where a business is carried on

Correct Answer with a benevolent purpose , where any one of the partners is entitled to total

profit earned

Your Answer to earn profitto earn profit , to sharing profits equally , where any one of the

partners is entitled to total profit earned

Multiple Choice Multiple Answer

Question An unregistered firm can institute a suit against

Correct Answer wrongful use of the trade mark , wrongful use of the firm name

Your Answer wrongful use of the trade mark , wrongful use of the firm name , the partner for

settlement of firm's account

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 An unregistered firm can bring an action in any court of Law 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

purposely damages the property of the partnership firm , a partner who wrongfully deals with the

assets of the firm

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 acquire movable property on behalf of the firm , transfer movable property

belonging to the firm

Your 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

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 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 Acquire movable property on behalf of the firm , transfer movable property

belonging to the firm

Your Answer admit any liability in a suit or proceedings against the firm , transfer movable

property belonging to the firm , enter into partnership on behalf of the firm

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

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

True/False

Question The writing of "Not Negotiable" is one and the same thing as that of special crossing.

Correct Answer False

Your Answer True

Multiple Choice Single Answer

Question The seller can file a suit against the buyer for the price of goods only after

Correct Answer the property in goods is transferred to the buyer

Your Answer the property in goods is transferred to the buyer

Multiple Choice Single Answer

Question If there is a breach of condition, a buyer has an option to claim

Correct Answer Damages

Your Answer Damages

True/False

Question The legal heir or representative of a dead consumer is given the right to become the

complainant.

Correct Answer True

Your Answer True

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 Lawful business is common with a view to private gain

True/False

Question The subscriber of the memorandum of a company on its registration shall be entered

in its register of members as member.

Correct Answer True

Your Answer True

Multiple Choice Multiple Answer

Question The ingredients of the proposal are

Correct Answer communication by one to another , to do or to abstain from doing something ,

the object should be to take assent of another

Your Answer communication by one to another , to do or to abstain from doing something , the

object should be to take assent of another

Select The Blank

Question Every promise and every set of promises, forming the consideration for each other, is

an ________.

Correct Answer agreement

Your Answer agreement

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 Jointly own property with shareholders , Own its property in its own name , Enjoy

its property in its own name

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 A stipulation in a contract of sale with reference to goods which are subject there of

may be

Correct Answer A condition or warranty

Your Answer A condition or warranty

Multiple Choice Single Answer

Question Negotiable Instrument can be drawn or accepted by duly authorised agent on behalf

of

Correct Answer principle

Your Answer principle

Select The Blank

Question Special resolution and confirmation by ________is required for alteration of

Memorandum.

Correct Answer Company Law Board

Your Answer Company Law Board

Multiple Choice Single Answer

Question Existing may be further classified as

Correct Answer Specific goods

Your Answer Specific goods

Multiple Choice Single Answer

Question Unpaid seller's right to stop the goods in transit arises only when the buyer becomes

Correct Answer insolvent

Your Answer insolvent

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 Agents are ________ to act within the scope of the authority given.

Correct Answer authorised

Your Answer authorised

Select The Blank

Question Articles are ________ to and controlled by the memorandum.

Correct Answer subordinate

Your Answer subordinate

Multiple Choice Multiple Answer

Question Following persons can perform the contracts

Correct Answer promissor , agent , legal representative

Your Answer promissor , agent , legal representative

Multiple Choice Multiple Answer

Question A proposal

Correct Answer may be revoked at any time , may be revoked before the communication of

acceptance is complete , should be complete against the proposer

Your Answer may be revoked at any time , may be revoked before the communication of

acceptance is complete , should be complete against the proposee

LIST OF ATTEMPTED QUESTIONS AND ANSWERS KBL2

True/False

Question Partnership is nothing but a psychological relationship existing between the partners.

Correct Answer False

Your Answer False

Select The Blank

Question The ________ of 1986 is basically passed to protect the interest of the consumer.

Correct Answer Consumer Protection Act

Your Answer Consumer Protection Act

Multiple Choice Multiple Answer

Question Partners by Estoppel or holding out are also called as

Correct Answer quasi-partner , nominal partner

Your Answer quasi-partner , nominal partner

Multiple Choice Single Answer

Question Partnership at will is a partnership

Correct Answer for an indefinite period

Your Answer for a definite period

True/False

Question Goods which become ascertained subsequent to the formation of the contract of sale

are Ascertained Goods.

Correct Answer True

Your Answer True

Select The Blank

Question Future consideration is also known as ________ consideration.

Correct Answer executory

Your Answer executory

Multiple Choice Multiple Answer

Question A partner is called as an outgoing partner by

Correct Answer retirement , death , expulsion

Your Answer retirement , death , expulsion

True/False

Question A Promissory Note contains conditional undertaking to pay a certain sum of money.

Correct Answer False

Your Answer False

Select The Blank

Question The person acting as an agent on behalf of the principal should act ________.

Correct Answer honestly

Your Answer definitely

Multiple Choice Multiple Answer

Question A transfer by a partner of his interest in the firm, does not entitle the transferee,

during the continuance of the firm

Correct Answer to inspect the books of the firm , to require accounts , to interfere in the

conduct of a business of a firm

Your Answer to inspect the books of the firm , to require accounts , to interfere in the conduct

of a business of a firm

Multiple Choice Single Answer

Question Section 138 deals with

Correct Answer dishonour of cheque

Your Answer dishonour of cheque

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 Multiple Answer

Question The memorandum of Association is the most important document, it acts out

Correct Answer The constitution , The formation , The objectives

Your Answer The constitution , The formation , The objectives

True/False

Question The memorandum and articles shall, when registered, do not bind the company and

the members thereof.

Correct Answer False

Your Answer False

True/False

Question No consideration is required in formal contracts.

Correct Answer True

Your Answer False

Multiple Choice Single Answer

Question Following is an implied condition

Correct Answer Condition as to title

Your Answer Condition as to contingency

Multiple Choice Multiple Answer

Question Public notice is required to be given

Correct Answer on the dissolution of a firm which is registered , on the retirement of any of the

partner of a registered firm

Your Answer on the dissolution of a firm which is registered , on the retirement of any of the

partner of a registered firm

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 Unlimited companies , Limited by guarantee , Limited by shares

Multiple Choice Single Answer

Question A condition may be reduced to where goods are

Correct Answer Goods are accepted by the buyer

Your Answer Goods are accepted by the buyer

Multiple Choice Single Answer

Question In case of a public limited company, the maximum number is no limit, but the

minimum is fixed at

Correct Answer 7

Your Answer 7

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

Select The Blank

Question According to Salmond and ________, a promise without consideration is a gift and

one made with consideration is a bargain.

Correct Answer Winfield

Your Answer Winfield

Select The Blank

Question One of the two kinds of presentment of an Instrument is by ________

Correct Answer Payment

Your Answer Payment

True/False

Question The Act is passed merely to settle the disputes of commercial transactions.

Correct Answer False

Your Answer True

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 , Share of profits

Multiple Choice Single Answer

Question Memorandum of a public company must be signed by

Correct Answer Seven persons

Your Answer Five persons

Select The Blank

Question Articles are ________ to and controlled by the memorandum.

Correct Answer subordinate

Your Answer subordinate

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 Unlimited companies , Companies limited by guarantee , Private companies

limited by shares

Multiple Choice Multiple Answer

Question The Articles of Association are subsidiary to

Correct Answer Companies Act , Memorandum of Association

Your Answer Companies Act , Certificate of Registration , Memorandum of Association

Multiple Choice Single Answer

Question A breach of a condition may be treated as breach of

Correct Answer Warranty

Your Answer Warranty

Multiple Choice Multiple Answer

Question The memorandum of every company shall state

Correct Answer The name of the company , The registered office , The main objects

Your Answer The name of the company , The registered office , The main objects

Select The Blank

Question Unfair trade practice includes a representation made to public in a form that purpots

to be a ________ of a product.

Correct Answer warranty

Your Answer shortcoming

Multiple Choice Multiple Answer

Question A person is considered the holder of Negotiable Instruments if

Correct Answer his name appear on an instrument , he is in possession of bearer instrument ,

he is the endorses of a cheque

Your Answer his name appear on an instrument , he is in possession of bearer instrument , he

is the endorses of a cheque

Multiple Choice Multiple Answer

Question The rights of the partners are

Correct Answer right to retire , right to be indemnified , right not to be expelled

Your Answer right to retire , right to be indemnified , right not to be expelled

Multiple Choice Single Answer

Question A Company after its registration, possesses

Correct Answer Legal entity

Your Answer Legal entity

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 nominal value

Select The Blank

Question A company is a ________ company if the holding company controls the majority

composition of its board of directors.

Correct Answer subsidiary

Your Answer subsidiary

Match The Following

Question Correct Answer Your Answer

Penalty for false particulars Imprisonment for three months Imprisonment for three months

Partnership deed Name, Place, Date Name, Place, Date

A statement in prescribed form and accompanied by fees Required for registration Required for

registration

The registrar of firms To rectify any mistake To rectify any mistake

Select The Blank

Question In ________ contract, all the parties perform their promise.

Correct Answer an executed

Your Answer an executed

Multiple Choice Multiple Answer

Question Following agreements are opposed to public policy

Correct Answer agreement to commit crime , agreements interfering with an

administration of justice

Your Answer agreement to commit crime , agreement by way of maintenance and champerty ,

agreements interfering with an administration of justice

True/False

Question Memorandum is adopted to control internal operations of the company.

Correct Answer False

Your Answer True

True/False

Question Under the Consumer Protection Act of 1986, goods include actionable claim and

money.

Correct Answer False

Your Answer False

Multiple Choice Multiple Answer

Question The companies having Articles are

Correct Answer Unlimited Company , Company limited by guarantee , Company limited by

shares

Your Answer Unlimited Company , Company limited by guarantee , Company limited by shares

Multiple Choice Multiple Answer

Question The partner who is illegally expelled

Correct Answer can claim re-instatement , can sue the firm for the refund of his share in the

profits as well as profits

Your Answer can claim re-instatement , can sue the firm for the refund of his share in the

profits as well as profits

Multiple Choice Single Answer

Question A company can sue and also be sued by

Correct Answer In its corporate name

Your Answer Any third person

True/False

Question Persons who have entered into partnership with one another are called individually

partners and they are collectively "a firm"

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question In contract of sale the buyer becomes

Correct Answer Absolute owner of the property

Your Answer Symbolic owner of the property