True/False
Question Agreement is defined as a contract at its inception.
Correct Answer True
Your Answer True
Select The Blank
Question ________ is the ________ method of voting with the
rule "one share one vote "
Correct Answer poll
Your Answer poll
Correct Answer capitalistic
Your Answer individualised
Multiple Choice Single Answer
Question Agency can be created by
Correct Answer Operation of law
Your Answer Operation of law
Multiple Choice Single Answer
Question Where the property in goods sold has been passed, the
unpaid seller has the
Correct Answer right to stop goods in transit
Your Answer right to stop goods in transit
True/False
Question A minor may draw, endorse, deliver and negotiate a
negotiable instrument to bind other parties except himself
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Dissolution by the order of the Court at the suit of a
partner on certain grounds, which include
Correct Answer Willful or persistent breach of agreement by a partner
Your Answer Willful or persistent breach of agreement by a partner
Select The Blank
Question The agency can be ________ At any time by
________ agreement between the principal and his agent.
Correct Answer terminated
Your Answer individual
Correct Answer mutual
Your Answer mutual
Multiple Choice Multiple Answer
Question The requirement of valid Memorandum of Association
are that it
Correct Answer is to be signed by at least seven persons in case of public
company , is to be signed by at least two persons in case of private company
Your Answer is to be signed by at least seven persons in case of public
company , is to be signed by at least two persons in case of private company
Match The Following
Question Correct Answer Your Answer
An Outsider or a stranger who holds himself out or represents himself to be a
partner of the partnership firm and induces outsider to give credit to the firm
partner by estoppel partner by estoppel
A person who becomes a partner by entering into partnership agreement & is
actual engaged in the conduct and management of the partnership business
Ostensible partner Ostensible partner
A person who only lends his name to the partnership firm but does not invest
any capital in the firm nor does take any interest in the affairs of the firm
Nominal Partner Nominal Partner
When partners agree to share the profits of the partnership firm with any
outsider, such An outsider is known as Sub-Partner Sub-Partner
A partner whose existence in the firm is kept secret from the outside world
Dormant Partner Dormant Partner
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 A consumer is
Correct Answer Nominee under a policy of life insurance , A Railway
passenger , An employee who is member of Employees Provident Fund
Scheme
Your Answer Nominee under a policy of life insurance , A Railway
passenger , An employee who is member of Employees Provident Fund
Scheme
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
Select The Blank
Question A meeting is ________ of a number of persons for
________ a lawful business having certain purpose or purposes
Correct Answer an assembly
Your Answer an assembly
Correct Answer transacting
Your Answer transacting
Multiple Choice Multiple Answer
Question Following are the conditions to be fulfilled before a seller
can be deemed to be an unpaid seller
Correct Answer he must have an immediate right of action for the price ,
he must have sold goods against cash and the price must be due
Your Answer he must have an immediate right of action for the price ,
he must have refused payment when tendered , he must have sold goods
against cash and the price must be due
Multiple Choice Multiple Answer
Question Following are the examples of statutory companies
Correct Answer Reserve Bank Of India , Unit Trust Of India
Your Answer Reserve Bank Of India , Unit Trust Of India
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 , co-owners without the agreement to carry on
the business
Match The Following
Question Correct Answer Your Answer
Sale Exchange of goods for price Exchange of goods for price
Barter Exchange Exchange of goods for goods Exchange of goods for
goods
Sale of Goods Act, 1930 Movable goods Movable goods
Caveat Emptor Let the buyer bewareLet the buyer beware
Quiet possession Implied Warranty Implied Warranty
Multiple Choice Single Answer
Question A consumer has right to be assured, wherever possible,
access to services at
Correct Answer competitive prices
Your Answer competitive prices
Multiple Choice Multiple Answer
Question Following are the characteristics of partnership at will
Correct Answer partners are always free to break their relationship at
their whim , it is for indefinite period
Your Answer partners are always free to break their relationship at
their whim , it is for indefinite period
True/False
Question A commission agent is generally appointed for selling
and buying goods on behalf of his principal
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Transmission of shares takes place due to
Correct Answer death of a member , insolvency of a member , lunacy of a
member
Your Answer death of a member , lunacy of a member , minority of a
member
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 acquire movable property on behalf of the firm , admit
any liability in a suit or proceedings against the firm , transfer movable
property belonging to the firm
Multiple Choice Multiple Answer
Question Following are the persons who cannot enter into
partnership firm
Correct Answer A Burmese Buddhist husband and wife carrying on
business , the members of Hindu Undivided Family carrying on Family
business
Your Answer A Burmese Buddhist husband and wife carrying on
business , the members of Hindu Undivided Family carrying on Family
business
Multiple Choice Multiple Answer
Question The maker, acceptor or endorser respectively of a
negotiable instrument is discharged from liability thereon by
Correct Answer release , payment , non cancellation
Your Answer non-acceptance , release , payment
Multiple Choice Single Answer
Question The National Commission shall decide the complaint as
far as possible within a period of
Correct Answer three months from the date of notice received by the
opposite party
Your Answer three months from the date of notice received by the
opposite party
Select The Blank
Question When the ________ of a bill is ‘for collection only’ the
endorsee cannot be a ________
Correct Answer Endorsement
Your Answer Endorsement
Correct Answer holder
Your Answer holder
Select The Blank
Question Un-called capital is the part of ________ and
________ capital which has not been called up.
Correct Answer issued
Your Answer issued
Correct Answer subscribed
Your Answer subscribed
True/False
Question Special Notice and Special Resolution mean one and the
same.
Correct Answer False
Your Answer True
Select The Blank
Question ________ Trade Practice is a trade practice which for
the purpose of promoting a sale, use or supply of any goods or for the
provision of any service adopts any ________ practice.
Correct Answer unfair
Your Answer unfair
Correct Answer deceptive
Your Answer deceptive
True/False
Question Consumer is a person who procures service under a
contract of personal service
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question Property of the company is the property of
Correct Answer Promoters before the existence of the company , the
company itself after its incorporation
Your Answer its share-holders , Board of Directors , Promoters before
the existence of the company
True/False
Question English Law does not recognize Formal Contract
Correct Answer False
Your Answer False
Select The Blank
Question Reserved capital is the part of ________ capital which
can only be called up at the time of & for the purpose of ________ the
company
Correct Answer uncalled
Your Answer uncalled
Correct Answer winding up
Your Answer winding up
True/False
Question The partners need not sign the partnership deed.
Correct Answer False
Your Answer False
Select The Blank
Question When the person to whom the proposal is made
________ his assent thereto, the proposal is said to be ________
Correct Answer Signifies
Your Answer Accepted
Correct Answer Accepted
Your Answer Declared
Multiple Choice Multiple Answer
Question Goods includes
Correct Answer trade marks , good will
Your Answer actionable claims , money
Multiple Choice Multiple Answer
Question Characteristics Articles of Association are
Correct Answer it contains rule for the internal management of the
affairs of the company , it is subordinate to the Memorandum of Association
Your Answer contains objectives for which the company is established
, it contains rule for the internal management of the affairs of the company , it
is subordinate to the Memorandum of Association
Select The Blank
Question ________ implies committing or threatening to
commit any act ________ by the Indian Penal Code.
Correct Answer Coercion
Your Answer Coercion
Correct Answer forbidden
Your Answer forbidden
Select The Blank
Question ________ is an invitation made to the ________
Correct Answer Prospectus
Your Answer Prospectus
Correct Answer public
Your Answer public
Multiple Choice Single Answer
Question A factor is a type of
Correct Answer Mercantile Agent
Your Answer Mercantile Agent
True/False
Question Agents acting jointly and severally are known as
co-agents
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Enforcement of contingent contract depends on
Correct Answer Happening or Non-happening of the event
Your Answer Happening of the event
Multiple Choice Single Answer
Question In a sale, if the buyer becomes insolvent before he pays
the price of the goods purchased, the person who can claim the delivery of the
goods as the property in goods has been already transferred as a
Correct Answer official assignee or receiver
Your Answer official assignee or receiver
Select The Blank
Question When the ________ of contract becomes ________ ,
such contract need not be performed
Correct Answer performance
Your Answer cancellation
Correct Answer impossible
Your Answer possible
True/False
Question A Cheque can be bearer, Order or crossed
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Following is an implied condition.
Correct Answer Condition as to sale by sample
Your Answer Condition as to sale by sample
Multiple Choice Single Answer
Question Dissolution by voluntary act of the partners, which
includes
Correct Answer dissolution by agreement
Your Answer dissolution by agreement
LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Match The Following
Question Correct Answer Your Answer
Firm Partners Can be formed atWill
Partner Agents of the firm Agents of the firm
Partnership Can be formed atWill Partners
Minor Partner Admitted for profits only Admitted for profits only
Dissolution of a Partnership Death or Insanity of the partners
Death or Insanity of the partners
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 , the
main object of carry on the business must be sharing of liabilities , 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 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 with a benevolent purpose , to earn profitto earn profit ,
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 the partner for settlement of firm's account , the partner
for any claim of set-off
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 The Exception to the rule of "buyer beware" are
Correct Answer quality of goods are not merchantable , presence of
patent defect in goods
Your Answer fitness for buyer's purpose , sale of goods by description
, quality of goods are not merchantable , presence of patent defect in goods
Multiple Choice Multiple Answer
Question Following are the characteristics of the partnership at
will
Correct Answer Partners are always free to break their relationship at
their whim , It is for indefinite period
Your Answer Partners are always free to break their relationship at
their whim , It is for indefinite period
Select The Blank
Question A ________ is an artificial person and has a legal
entity.
Correct Answer Company
Your Answer Company
True/False
Question A minor can be admitted as a partner with the consent
of all other partners.
Correct Answer True
Your Answer False
True/False
Question A partnership is a form of business organisation in
which three or more persons upto a maximum of thirty join together to
undertake some form of business activity.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question A partner is called as an outgoing partner by
Correct Answer retirement , death , expulsion
Your Answer retirement , death , expulsion
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 similar
Multiple Choice Multiple Answer
Question Promissory note must be in
Correct Answer in writing , definite , unconditional
Your Answer unconditional , uncertain
Multiple Choice Single Answer
Question A legal representative being holder of Negotiable
Instrument can sue
Correct Answer after the death of the holder
Your Answer any time during life time of legal representation
Multiple Choice Single Answer
Question Section 138 deals with
Correct Answer dishonour of cheque
Your Answer dishonour of cheque
True/False
Question The liability of the drawer of a Bill of Exchange is
primary and absolute.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question Vindictive damages are also known as
Correct Answer Exemplary damages
Your Answer Exemplary damages
Multiple Choice Single Answer
Question Void agreement means an agreement
Correct Answer not enforceable by law
Your Answer Violative of legal procedure
Multiple Choice Single Answer
Question A mistake as to a law not in force in India is
Correct Answer void
Your Answer depending on the circumstances of the case
True/False
Question The Indian Contract Act, 1872 includes the penal
provisions in case of breach of contract.
Correct Answer False
Your Answer True
Select The Blank
Question An offer must create ________ relationship
Correct Answer Legal
Your Answer Legal
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 Austin
Select The Blank
Question There are certain relations, which are not created by
contracts but are upheld by law, which are known as ________ contracts.
Correct Answer Quasi
Your Answer Quasi
Multiple Choice Single Answer
Question A special power authorises an agent to perform a
Correct Answer single act transaction
Your Answer single act transaction
Multiple Choice Multiple Answer
Question If the principal comes to know that the agent has
dishonestly concealed from him any material fact, the principal
Correct Answer can repudiate the transaction , may affirm such
transaction , may claim damages for loss
Your Answer may allow the benefits , can repudiate the transaction ,
may claim damages for loss
True/False
Question A servant appointed by his masters is an agent.
Correct Answer False
Your Answer False
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
True/False
Question In a contract of sale goods can be exchanged for goods.
Correct Answer False
Your Answer False
Match The Following
Question Correct Answer Your Answer
Sale of goods Act, 1930 Movable goods Movable goods
Caveat emptor Let the buyer bewareLet the buyer beware
Sale Exchange of goods for price Exchange of goods for price
Barter system Exchange of goods for goods Exchange of goods for
goods
Multiple Choice Single Answer
Question If the complainant fails to comply with any order passed
by the District Forum then he is punishable with a fine which shall not be less
than
Correct Answer Rs.2,000/- but which can be extended upto Rs.10,000/-
Your Answer Rs.2,000/- but which can be extended upto Rs.10,000/-
Multiple Choice Multiple Answer
Question The very important stages in the connection of
formation of a company are
Correct Answer Promotion , Registration , Floatation
Your Answer Promotion , Registration , Operations before
registrations
Multiple Choice Multiple Answer
Question The Articles of Association contains the
Correct Answer Rules , Regulations , Bye-laws
Your Answer Rules , Regulations , Bye-laws
Multiple Choice Multiple Answer
Question A declaration given for the registration of company is
given by
Correct Answer An advocate of Supreme Court , An attorney entitled to
appear before a High Court , A Pleader entitled to appear before a High Court
Your Answer An advocate of Supreme Court , A Pleader entitled to
appear before a High Court , A Judge of a District Court
Multiple Choice Single Answer
Question The legal existence of the company commences from the
date written on the certificate of incorporation and such date is conclusive
even if
Correct Answer Wrong
Your Answer Affirmative
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 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 True
Select The Blank
Question The Articles of Association controls ________
operations of the company.
Correct Answer internal
Your Answer internal
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 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
Multiple Choice Single Answer
Question A Company after its registration, possesses
Correct Answer Legal entity
Your Answer Legal entity
Multiple Choice Single Answer
Question Company based on ownership is
Correct Answer Public company
Your Answer Statutory company
True/False
Question Subsidiary company can hold shares and can acquire
membership of the holding company.
Correct Answer False
Your Answer True
Select The Blank
Question Articles are ________ to and controlled by the
memorandum.
Correct Answer subordinate
Your Answer subordinate
Select The Blank
Question The Articles of Association controls ________
operations of the company.
Correct Answer internal
Your Answer internal
Select The Blank
Question The minimum number of persons required to form a
public company is ________
Correct Answer seven
Your Answer seven
Multiple Choice Multiple Answer
Question A Consumer has the following rights
Correct Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
Your Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
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 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
Select The Blank
Question Partnership business carried on continuous losses, the
court may order to ________ the firm.
Correct Answer dissolve
Your Answer dissolve
True/False
Question No company shall be registered by a name which, in the
opinion of the central government is undesirable.
Correct Answer True
Your Answer True
True/False
Question An insolvent person can accept or endorse a bill.
Correct Answer False
Your Answer False
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 , the
main object of carry on the business must be sharing of liabilities ,
there must be an association of two or more persons
Select The Blank
Question A valid tender of performance should be ________
Correct Answer unconditional
Your Answer unconditional
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
Match The Following
Question Correct Answer Your Answer
Minor Partner Admitted for profits only Admitted for profits only
Dissolution of a Partnership Death or Insanity of the partners Death or
Insanity of the partners
Firm Partners Partners
Partner Agents of the firm Agents of the firm
Partnership Can be formed atWill Can be formed atWill
Multiple Choice Multiple Answer
Question Agent has duties towards principal including 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
True/False
Question Companies can be registered with undesirable names.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question A contract with a pardanashin woman can be presumed to have
been induced by
Correct Answer undue influence
Your Answer undue influence
Multiple Choice Single Answer
Question After the period of time is lapsed, the right to bring an
action is barred under the
Correct Answer Limitation Act
Your Answer Indian Contract Act
Multiple Choice Single Answer
Question The capacity to contract with an agent is the part of the
law of
Correct Answer statute
Your Answer agency
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 insolvents , co-onwers with the agreement to carry on
the business , co-owners without the agreement to carry on the business
Select The Blank
Question A firm is a name given to the partners ________
Correct Answer collectively
Your Answer collectively
Multiple Choice Single Answer
Question The partnership deed is required to drafted very carefully
and to be signed by
Correct Answer all the partners
Your Answer all the partners
Multiple Choice Single Answer
Question A cheque is dishonoured by
Correct Answer non payment only
Your Answer non payment only
Multiple Choice Multiple Answer
Question A company is
Correct Answer A company is , An artificial legal person , A
separate legal entity
Your Answer An artificial legal person , A separate legal entity
Select The Blank
Question Section 13 of the Negotiable Instrument Act gives ________
of Negotiable Instrument.
Correct Answer meaning
Your Answer meaning
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 "An agreement creating and defining the obligations between
the parties is a contract", This was stated by
Correct Answer Sir John Salmond
Your Answer Sir John Salmond
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 Following are the persons who cannot enter into partnership
firm
Correct Answer A Burmese Buddhist husband and wife carrying on
business , the members of Hindu Undivided Family carrying on Family
business
Your Answer A Burmese Buddhist husband and wife carrying on business
True/False
Question An intention to create legal relations is one of the most
important criterions to establish a contract.
Correct Answer True
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
Multiple Choice Single Answer
Question Misrepresentation means and includes
Correct Answer positive assertion of that which is not true
Your Answer positive assertion of that which is not true
Multiple Choice Single Answer
Question Consumer Dispute Redressal Forum is a District Forum
established by
Correct Answer the State Govt. in each District of the State by
Notification
Your Answer the State Govt. in each District of the State by
Notification
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 Injuction
Your Answer Injuction
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 A finder of goods is subject to the responsibility as a
Correct Answer bailee
Your Answer bailee
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
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
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 Limited company
Multiple Choice Single Answer
Question A sale which is a public sale where various buyers try to
buy the goods by outbidding each other is known as
Correct Answer Auction sale
Your Answer Auction sale
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 False
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 Sector 63
An agreement enforceable by law Contract Contract
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
True/False
Question When agents delegate their authority to another for a
particular period for a particular task, they appoint substituted agents.
Correct Answer True
Your Answer False
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 objectives , The preamble
Select The Blank
Question The Articles of Association controls ________ operations of
the company.
Correct Answer internal
Your Answer internal
True/False
Question Subsidiary company can hold shares and can acquire
membership of the holding company.
Correct Answer False
Your Answer True
True/False
Question The company cannot exceed the powers conferred on it by its
memorandum
Correct Answer True
Your Answer True
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 Any person who is of age of majority according to the law
to which he is a subject, may ________ an agent.
Correct Answer appoint
Your Answer appoint
Select The Blank
Question A ________ is an artificial person and has a legal entity.
Correct Answer Company
Your Answer Company
LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Multiple Answer
Question A Consumer has the following rights
Correct Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
Your Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
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 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
Select The Blank
Question Partnership business carried on continuous losses, the
court may order to ________ the firm.
Correct Answer dissolve
Your Answer dissolve
True/False
Question No company shall be registered by a name which, in the
opinion of the central government is undesirable.
Correct Answer True
Your Answer True
True/False
Question An insolvent person can accept or endorse a bill.
Correct Answer False
Your Answer False
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 , the
main object of carry on the business must be sharing of liabilities ,
there must be an association of two or more persons
Select The Blank
Question A valid tender of performance should be ________
Correct Answer unconditional
Your Answer unconditional
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
Match The Following
Question Correct Answer Your Answer
Minor Partner Admitted for profits only Admitted for profits only
Dissolution of a Partnership Death or Insanity of the partners Death or
Insanity of the partners
Firm Partners Partners
Partner Agents of the firm Agents of the firm
Partnership Can be formed atWill Can be formed atWill
Multiple Choice Multiple Answer
Question Agent has duties towards principal including 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
True/False
Question Companies can be registered with undesirable names.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question A contract with a pardanashin woman can be presumed to have
been induced by
Correct Answer undue influence
Your Answer undue influence
Multiple Choice Single Answer
Question After the period of time is lapsed, the right to bring an
action is barred under the
Correct Answer Limitation Act
Your Answer Indian Contract Act
Multiple Choice Single Answer
Question The capacity to contract with an agent is the part of the
law of
Correct Answer statute
Your Answer agency
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 insolvents , co-onwers with the agreement to carry on
the business , co-owners without the agreement to carry on the business
Select The Blank
Question A firm is a name given to the partners ________
Correct Answer collectively
Your Answer collectively
Multiple Choice Single Answer
Question The partnership deed is required to drafted very carefully
and to be signed by
Correct Answer all the partners
Your Answer all the partners
Multiple Choice Single Answer
Question A cheque is dishonoured by
Correct Answer non payment only
Your Answer non payment only
Multiple Choice Multiple Answer
Question A company is
Correct Answer A company is , An artificial legal person , A
separate legal entity
Your Answer An artificial legal person , A separate legal entity
Select The Blank
Question Section 13 of the Negotiable Instrument Act gives ________
of Negotiable Instrument.
Correct Answer meaning
Your Answer meaning
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 "An agreement creating and defining the obligations between
the parties is a contract", This was stated by
Correct Answer Sir John Salmond
Your Answer Sir John Salmond
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 Following are the persons who cannot enter into partnership
firm
Correct Answer A Burmese Buddhist husband and wife carrying on
business , the members of Hindu Undivided Family carrying on Family
business
Your Answer A Burmese Buddhist husband and wife carrying on business
True/False
Question An intention to create legal relations is one of the most
important criterions to establish a contract.
Correct Answer True
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
Multiple Choice Single Answer
Question Misrepresentation means and includes
Correct Answer positive assertion of that which is not true
Your Answer positive assertion of that which is not true
Multiple Choice Single Answer
Question Consumer Dispute Redressal Forum is a District Forum
established by
Correct Answer the State Govt. in each District of the State by
Notification
Your Answer the State Govt. in each District of the State by
Notification
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 Injuction
Your Answer Injuction
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 A finder of goods is subject to the responsibility as a
Correct Answer bailee
Your Answer bailee
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
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
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 Limited company
Multiple Choice Single Answer
Question A sale which is a public sale where various buyers try to
buy the goods by outbidding each other is known as
Correct Answer Auction sale
Your Answer Auction sale
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 False
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 Sector 63
An agreement enforceable by law Contract Contract
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
True/False
Question When agents delegate their authority to another for a
particular period for a particular task, they appoint substituted agents.
Correct Answer True
Your Answer False
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 objectives , The preamble
Select The Blank
Question The Articles of Association controls ________ operations of
the company.
Correct Answer internal
Your Answer internal
True/False
Question Subsidiary company can hold shares and can acquire
membership of the holding company.
Correct Answer False
Your Answer True
True/False
Question The company cannot exceed the powers conferred on it by its
memorandum
Correct Answer True
Your Answer True
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 Any person who is of age of majority according to the law
to which he is a subject, may ________ an agent.
Correct Answer appoint
Your Answer appoint
Select The Blank
Question A ________ is an artificial person and has a legal entity.
Correct Answer Company
Your Answer Company
Plain Text Attachment [ Download File | Save to my Yahoo! Briefcase ]
Multiple Choice Multiple Answer
Question A Consumer has the following rights
Correct Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
Your Answer To get the education of the availability of legal
remedies , Seek redressal against unfair trade practices , To be informed
about quality, quantity, potency, purity, standard and price of goods
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 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
Select The Blank
Question Partnership business carried on continuous losses, the
court may order to ________ the firm.
Correct Answer dissolve
Your Answer dissolve
True/False
Question No company shall be registered by a name which, in the
opinion of the central government is undesirable.
Correct Answer True
Your Answer True
True/False
Question An insolvent person can accept or endorse a bill.
Correct Answer False
Your Answer False
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 , the
main object of carry on the business must be sharing of liabilities ,
there must be an association of two or more persons
Select The Blank
Question A valid tender of performance should be ________
Correct Answer unconditional
Your Answer unconditional
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
Match The Following
Question Correct Answer Your Answer
Minor Partner Admitted for profits only Admitted for profits only
Dissolution of a Partnership Death or Insanity of the partners Death or
Insanity of the partners
Firm Partners Partners
Partner Agents of the firm Agents of the firm
Partnership Can be formed atWill Can be formed atWill
Multiple Choice Multiple Answer
Question Agent has duties towards principal including 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
True/False
Question Companies can be registered with undesirable names.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question A contract with a pardanashin woman can be presumed to have
been induced by
Correct Answer undue influence
Your Answer undue influence
Multiple Choice Single Answer
Question After the period of time is lapsed, the right to bring an
action is barred under the
Correct Answer Limitation Act
Your Answer Indian Contract Act
Multiple Choice Single Answer
Question The capacity to contract with an agent is the part of the
law of
Correct Answer statute
Your Answer agency
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 insolvents , co-onwers with the agreement to carry on
the business , co-owners without the agreement to carry on the business
Select The Blank
Question A firm is a name given to the partners ________
Correct Answer collectively
Your Answer collectively
Multiple Choice Single Answer
Question The partnership deed is required to drafted very carefully
and to be signed by
Correct Answer all the partners
Your Answer all the partners
Multiple Choice Single Answer
Question A cheque is dishonoured by
Correct Answer non payment only
Your Answer non payment only
Multiple Choice Multiple Answer
Question A company is
Correct Answer A company is , An artificial legal person , A
separate legal entity
Your Answer An artificial legal person , A separate legal entity
Select The Blank
Question Section 13 of the Negotiable Instrument Act gives ________
of Negotiable Instrument.
Correct Answer meaning
Your Answer meaning
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 "An agreement creating and defining the obligations between
the parties is a contract", This was stated by
Correct Answer Sir John Salmond
Your Answer Sir John Salmond
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 Following are the persons who cannot enter into partnership
firm
Correct Answer A Burmese Buddhist husband and wife carrying on
business , the members of Hindu Undivided Family carrying on Family
business
Your Answer A Burmese Buddhist husband and wife carrying on business
True/False
Question An intention to create legal relations is one of the most
important criterions to establish a contract.
Correct Answer True
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
Multiple Choice Single Answer
Question Misrepresentation means and includes
Correct Answer positive assertion of that which is not true
Your Answer positive assertion of that which is not true
Multiple Choice Single Answer
Question Consumer Dispute Redressal Forum is a District Forum
established by
Correct Answer the State Govt. in each District of the State by
Notification
Your Answer the State Govt. in each District of the State by
Notification
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 Injuction
Your Answer Injuction
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 A finder of goods is subject to the responsibility as a
Correct Answer bailee
Your Answer bailee
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
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
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 Limited company
Multiple Choice Single Answer
Question A sale which is a public sale where various buyers try to
buy the goods by outbidding each other is known as
Correct Answer Auction sale
Your Answer Auction sale
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 False
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 Sector 63
An agreement enforceable by law Contract Contract
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
True/False
Question When agents delegate their authority to another for a
particular period for a particular task, they appoint substituted agents.
Correct Answer True
Your Answer False
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 objectives , The preamble
Select The Blank
Question The Articles of Association controls ________ operations of
the company.
Correct Answer internal
Your Answer internal
True/False
Question Subsidiary company can hold shares and can acquire
membership of the holding company.
Correct Answer False
Your Answer True
True/False
Question The company cannot exceed the powers conferred on it by its
memorandum
Correct Answer True
Your Answer True
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 Any person who is of age of majority according to the law
to which he is a subject, may ________ an agent.
Correct Answer appoint
Your Answer appoint
Select The Blank
Question A ________ is an artificial person and has a legal entity.
Correct Answer Company
Your Answer Company
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