Business Law - A03

LIST OF ATTEMPTED QUESTIONS AND ANSWERS KBL3

Multiple Choice Multiple Answer

Question Consent is free when it is not caused by

Correct Answer Undue influence , Fraud , Mistake

Your Answer Undue influence , Fraud , Mistake

Select The Blank

Question A Company subject to the provisions of section 32 of the

companies act as unlimited may register under this Act as a ________

Correct Answer Limited company

Your Answer Government Company

Multiple Choice Single Answer

Question A pardanashin woman means a woman who

Correct Answer observes seclusion, because of curom

Your Answer does not come into the public

Multiple Choice Multiple Answer

Question A sale can be in case of

Correct Answer specific goods , existing goods

Your Answer future goods , existing goods , contingent goods

Select The Blank

Question When the person to whom the proposal is made signifies his

assent thereto, the proposal is said to be ________.

Correct Answer accepted

Your Answer declared

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 Single Answer

Question The capacity to contract with an agent is the part of the

law of

Correct Answer statute

Your Answer fact

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 six

Match The Following

Question Correct Answer Your Answer

Partner by holding-out Partner by estoppel Partner by estoppel

Dissolution of partnership Completion of ventures Loss caused by fraud

Right of a partner To retire To retire

Partner is liable Loss caused by fraud Completion of ventures

Sleeping Partner Dormant Partner Dormant Partner

Multiple Choice Single Answer

Question The parties to the bill of exchange must be

Correct Answer certain

Your Answer certain

Match The Following

Question Correct Answer Your Answer

Any person who for the consideration becomes the possessor of a

promissory note Holder in due course Holder in due course

Negotiating Negotiable Instruments so as to bind all, except himself A

minor A minor

A partner accepting Negotiable Instrument Implied authority Implied

authority

A person who can't accept or indorse a bill An insolvent An insolvent

Multiple Choice Multiple Answer

Question Goods includes

Correct Answer trade marks , good will

Your Answer actionable claims , trade marks , money

Multiple Choice Multiple Answer

Question The District Protection Council shall consist of the

following members

Correct Answer Members representing such interests as may be

prescribed by the State Govt. , The Collector of District

Your Answer Members representing such interests as may be

prescribed by the State Govt. , The Collector of District

True/False

Question The Indian Contract Act, 1872 includes the penal

provisions in case of breach of contract.

Correct Answer False

Your Answer True

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 Multiple Answer

Question Fraud means and includes following act -

Correct Answer promise to deceive other party , promise without

intending to perform

Your Answer concealing a fact believing to be untrue , promise

without intending to perform

True/False

Question Loss of profits is an example of liquidated damages.

Correct Answer False

Your Answer True

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 True

Select The Blank

Question ________ contracts are the result of the implied promises.

Correct Answer Implied

Your Answer Implied

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 Under ________ influence the dominant party may hold a

real authority over the other party.

Correct Answer undue

Your Answer general

Multiple Choice Multiple Answer

Question Goods means

Correct Answer birds , gas

Your Answer money , gas , old coins

Select The Blank

Question The confirmation of change of registered office of company

within a state shall be communicated to the company within ________

from the date of receipt of such application.

Correct Answer Four weeks

Your Answer Three months

Multiple Choice Multiple Answer

Question Conditions required to avoid a contract on the ground of

supervening impossibilty of performance of the contract

Correct Answer the goods must have been perished before the risk is

passed to the buyer , the loss is not caused by the wrongful act or

default of either buyer or seller

Your Answer the goods must have been perished before the risk is

passed to the buyer , the contract be the be of actual sale , the loss

is not caused by the wrongful act or default of either buyer or seller

Multiple Choice Multiple Answer

Question A is a type of stipulation and has following

characteristics

Correct Answer It is of the subsidiary character , a breach of

condition gives the suffered party the one & only one right to

repudiate the contract

Your Answer It is of fundamental in nature , It is of the

subsidiary character , It goes direct to the root of the contract

Multiple Choice Multiple Answer

Question Instruments payable on demand are

Correct Answer Cheque , Promissory Note , Bill of Exchange

Your Answer Cheque , Promissory Note , Bill of Exchange

True/False

Question When a person is entrusted with another's property, he may

be appointed as an agent by necessity.

Correct Answer True

Your Answer False

Multiple Choice Single Answer

Question A consumer has the right to be assured, wherever possible,

access to services at

Correct Answer Competitive prices

Your Answer Competitive prices

True/False

Question Legal controls, restrictions on public companies are more

and strict.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question A partner can not transfer his share to any outsider

without obtaining

Correct Answer Consent of other partners

Your Answer Consent of other partners

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 Ninety days

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 A partnership firm does not enjoy the status of a

Correct Answer Legal person

Your Answer Legal person

Multiple Choice Multiple Answer

Question Documents to be presented for the registration of a

company with the registrar are

Correct Answer The memorandum of the company , Its articles , The

agreement, if any

Your Answer The memorandum of the company , Its articles , The

agreement, if any

Select The Blank

Question A partner may make an agreement with his partners, not to

carry ________ business to that of the firm.

Correct Answer similar

Your Answer irrelevant

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

Multiple Choice Multiple Answer

Question Public notice of a dissolution of firm is required to be

given by

Correct Answer publishing the same in the official gazette ,

publishing the same in the local news paper

Your Answer publishing the same in the official gazette ,

publishing the same in the local news paper , making advertisement of

the same on the hoardings

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

Multiple Choice Single Answer

Question Private company can commence its business immediately

after receiving the certificate of

Correct Answer Incorporation

Your Answer Incorporation

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

Multiple Choice Multiple Answer

Question Goods means

Correct Answer growing crops , stocks & shares

Your Answer growing crops , stocks & shares , money

Multiple Choice Multiple Answer

Question Selection committee for the appointment of the District

Forum consists of

Correct Answer President of the State Commission , Secretary of the

Law Dept. of the state

Your Answer President of the State Commission , Secretary of the

Law Dept. of the state , Secretary of the Home Dept. of the state

True/False

Question Bearer cheque is also known as Open cheque.

Correct Answer True

Your Answer True

Select The Blank

Question The Articles of Association controls ________ operations

of the company.

Correct Answer internal

Your Answer internal

Multiple Choice Single Answer

Question Partnership is nothing but

Correct Answer a legal relationship between the partners

Your Answer a legal relationship between the partners

Select The Blank

Question A,B,C, and D are partners, A retires and B dies, the

partnership between them comes to ________

Correct Answer an end

Your Answer reconstituted

Multiple Choice Multiple Answer

Question Documents to be presented for the registration of a

company with the registrar are

Correct Answer The memorandum of the company , Its articles , The

agreement, if any

Your Answer The memorandum of the company , Its articles , The

agreement, if any