BL

SCDL – Business Law

PGDBA – I Semester

Match The Following Question

Correct Answer

Unascertained goods

Generic goods

Unpaid seller

Right of lien on goods

Future goods

Agreement to sell

Identified goods

Ascertained goods

Multiple Choice Single Answer Question A condition may be reduced to where goods are Correct Answer Goods are accepted by the buyer Multiple Choice Single Answer Question Consideration or object of an agreement is lawful unless it is Correct Answer forbidden by law Multiple Choice Multiple Answer Question A condition is a type of stipulation and has following characteristics Correct Answer It is of the subsidiary character , A breach of it gives the suffered party the one & only one right to repudiate the contract Multiple Choice Single Answer Question When the property in goods is transferred from the seller to the buyer at once, the contract is called Correct Answer A Sale True/False Question Partners can decide their rights and liabilities in the partnership deed. Correct Answer True Multiple Choice Multiple Answer Question Amendments made in the Consumer Protection Act in 1993 are Correct Answer To add "services" relating to housing constructions , To enable filing class action complaints , To impose punishment on the complainant in cases of vexatious complaint. Multiple Choice Multiple Answer Question The unpaid seller loses his lien on the goods sold when Correct Answer he delivers the goods to a carrier for the purpose of transmission to buyer and do not reserves the right of disposal of the goods , the seller voluntarily abandons his right of lien on goods Select The Blank Question Issued capital can be defined as the ________ of shares which are offered to the public for subscription.

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Page 1 of 22

SCDL – Business Law

PGDBA – I Semester

Correct Answer nominal value 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 redeliver the goods to the seller. Correct Answer Carrier Multiple Choice Multiple Answer Question The modes of termination of agency are Correct Answer By completion of the agency business , By death of principal , By expiry of period or time Multiple Choice Multiple Answer Question Goods Means Correct Answer Debentures , Stocks & shares Multiple Choice Single Answer Question The goods which are identified and agreed upon at the time of a contract of sale is made: Correct Answer Specific goods 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 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 Single Answer Question The parties of the contract should be major in age according to Correct Answer The law to which they are subject 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 True/False Question Alteration of memorandum or articles etc. to be noted in every copy. Correct Answer True True/False Question The company law board may, at any time, by order, extend the time for the filing of documents. Correct Answer True Multiple Choice Multiple Answer Question The unpaid seller has following rights against the buyer personally Correct Answer suit for interest , repudiation of contract Multiple Choice Multiple Answer

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Page 2 of 22

SCDL – Business Law

PGDBA – I Semester

Question In the Conditional endorsement Correct Answer the liability of the endorser is limited , the liability of the endorser is negative , Endorser's liability can be made dependent upon contingency Multiple Choice Multiple Answer Question The companies having Articles are Correct Answer Unlimited Company , Company limited by guarantee , Company limited by shares 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 Select The Blank Question The company does not possess ________ still it is a person in the eyes of law. Correct Answer fundamental rights True/False Question Mental acceptance amounts to an acceptance. Correct Answer False Multiple Choice Single Answer Question The holder of Negotiable Instrument has a right to Correct Answer sue for recovery Multiple Choice Multiple Answer Question The unpaid seller has following rights against the goods Correct Answer stoppage in transit , withholding the delivery of goods True/False Question Any user of the goods with the approval of the person who has purchased the goods for consideration is also a consumer. Correct Answer True Match The Following Question

Correct Answer

Minor Partner

Admitted for profits only

Dissolution of a Partnership

Death or Insanity of the partners

Firm

Partners

Partner Partnership

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Agents of the firm Can be formed at Will

Page 3 of 22

SCDL – Business Law

PGDBA – I Semester

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 Multiple Choice Multiple Answer Question The Exception to the rule of "buyer beware" are Correct Answer usage by trade , sale of goods by description , consent by fraud Select The Blank Question The property in the Negotiable Instrument passes from one person to another person by ________ delivery. Correct Answer Mere/ Simple Multiple Choice Single Answer Question When an agent has the authority to do all acts connected with the business or trade of his principal, he is known as Correct Answer a general agent Select The Blank Question The act done by the agent with the permission and on behalf of the principal is ________ on the principal. Correct Answer binding Multiple Choice Multiple Answer Question A partner is called as an outgoing partner by Correct Answer retirement , death , expulsion Multiple Choice Multiple Answer Question According to Rule 3 of the Consumer protection rules the Central Council consists of the following members Correct Answer Minister in-charge of the dept. of home , Minister in-charge of dept. of Commerce and Industry , Minister in-charge consumer affairs in states Multiple Choice Single Answer Question If there is a breach of a condition, a buyer has the right to Correct Answer Repudiate the contract Select The Blank Question Unpaid seller's right to stop the goods in transit arises only when the buyer is ________ Correct Answer Bankrupt Multiple Choice Single Answer Question For the formation of the contract of sale of goods, there should be Correct Answer Two parties

Collected by Santosh. K

Page 4 of 22

SCDL – Business Law

PGDBA – I Semester

True/False Question Ratification can be only for a part of the act of the agent. Correct Answer False True/False Question In a contract of sale goods can be exchanged for goods. Correct Answer False Select The Blank Question A partner has a right to settle the ________ of the firm out of the property of the firm. Correct Answer debts 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 Multiple Choice Multiple Answer Question The very important stages in the connection of formation of a company are Correct Answer Promotion , Registration , Floatation True/False Question Existing goods are those goods, which are owned and possessed by the seller at the time of sale. Correct Answer True 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 True/False Question Goods which become ascertained subsequent to the formation of the contract of sale are Ascertained Goods. Correct Answer True Match The Following Question Correct Answer Fact and Law

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 The Indian Contract Act, 1872 applies to whole of India except the state of Jammu and Kashmir Applicability An agreement enforceable by law

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Contract

Page 5 of 22

SCDL – Business Law

PGDBA – I Semester

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 Multiple Choice Single Answer Question When the goods are very bulky in nature then they are delivered in a Correct Answer symbolic manner Multiple Choice Multiple Answer Question The order of the Commission can be set aside by Correct Answer The Supreme Court , The National Commission Match The Following Question

Correct Answer

Agent appointed for a special task

Special Agent

Agency created by conduct of the parties

Implied Agency

Agency created by words, spoken, or written

Express authority

Essentials of valid ratification

Existence of principal

Select The Blank Question Members of a club or a society are the ________ of each other. Correct Answer friends Multiple Choice Single Answer Question In a sale if the seller becomes insolvent after a contract of sale & the buyer has paid the price, the buyer can claim the goods from the official Correct Answer Assignee Multiple Choice Multiple Answer Question There are certain limitations to the principle of ratification which are Correct Answer where the principal does not have full knowledge at the fact , where the act to be ratified is illegal or void , where the ratification is not done within a reasonable time Multiple Choice Multiple Answer Question The State Council consists of the following members Correct Answer Minister in-charge of consumer affairs in the State Govt. , Members representing such interests as may be prescribed by the State Govt. Select The Blank Question An offer, to be treated as a valid offer, should be ________.

Collected by Santosh. K

Page 6 of 22

SCDL – Business Law

PGDBA – I Semester

Correct Answer communicated Select The Blank Question Notice of dishonour of cheque must be ________ Correct Answer within a reasonable time Multiple Choice Single Answer Question A partnership at will can be dissolved by filing a suit for Correct Answer Dissolution Multiple Choice Multiple Answer Question Following are the circumstances under which an offer lapses Correct Answer offeree makes conditional offer , offeree fails to communicate the acceptance True/False Question An agency cannot be terminated at all. In other words a contract of agency is perpetual. Correct Answer False Select The Blank Question The object of the Consumer Protection Act of 1986 is to educate the people so that they can find out ________ for their grievances Correct Answer legal remedies Select The Blank Question The ________ of 1986 is basically passed to protect the interest of the consumer. Correct Answer Consumer Protection Act Multiple Choice Multiple Answer Question Negotiable Instruments recognized by usage are Correct Answer Hundies , S.T. Receipts for goods , Pay off Orders Multiple Choice Single Answer Question In an agreement to sell the seller is responsible for all the risk of loss as he is the Correct Answer Owner Select The Blank Question A ________ is an artificial person and has a legal entity. Correct Answer Company Multiple Choice Single Answer Question Which of the following is not a void agreement Correct Answer agreement of marriage True/False Question An intention to create legal relations is one of the most important criterions to establish a contract.

Collected by Santosh. K

Page 7 of 22

SCDL – Business Law

PGDBA – I Semester

Correct Answer True 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 Multiple Choice Multiple Answer Question The particular partnership automatically comes to an end Correct Answer on the completion of the venture , at the expiry of the fixed term 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 Select The Blank Question A firm is a name given to the partners ________ Correct Answer collectively True/False Question District Forum enjoys Revisional jurisdiction. Correct Answer False True/False Question Companies can be registered with undesirable names. Correct Answer False True/False Question A person who merely gives an advice to another person in matters of business, does not thereby becomes his agent. Correct Answer True 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 Multiple Choice Multiple Answer Question The three ingredients in the performance of a contract of sale by the seller are Correct Answer Transfer of property in goods , The passing of the risk , Delivery of goods True/False Question Consideration can not be a past consideration. Correct Answer False Multiple Choice Multiple Answer

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Page 8 of 22

SCDL – Business Law

PGDBA – I Semester

Question A company may, by special resolution, alter the provisions of its memorandum so as to change the objects of the company so far as may be required to enable it Correct Answer Carry on its business more economically , Amalgamate with any other company , Attain its main purpose by new or improved means Multiple Choice Single Answer Question The maximum number of persons in case of partnership firm carrying on any business other than banking business must not exceed Correct Answer Twenty True/False Question An agreement to sell takes place in the case of existing goods or specific goods. Correct Answer False True/False Question Specific goods are those which are identified and agreed upon at the time of a contract of sale is made. Correct Answer True 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 Multiple Choice Multiple Answer Question There is always a direct privity of contract between the principal and the following Correct Answer substituted agent , co-agent , general agent 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 Multiple Choice Single Answer Question People purchasing the commodities for the purpose of trading is Correct Answer trader Multiple Choice Single Answer Question A Company is created by Correct Answer Law 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

Collected by Santosh. K

Page 9 of 22

SCDL – Business Law

PGDBA – I Semester

Multiple Choice Single Answer Question The relation of partnership arises from Correct Answer contract True/False Question The law relating to sale of immovable goods is contained in the Sale of Goods Act, 1930. Correct 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 Multiple Choice Single Answer Question When an offer is made to world-at-large, the contract is Correct Answer made with the person who signs or performs the terms and conditions of the offer Select The Blank Question All illegal agreements are ________ but all void agreements are not illegal. Correct 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 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 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 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 Multiple Choice Single Answer Question The term of Central Protection Council is Correct Answer Three years

Collected by Santosh. K

Page 10 of 22

SCDL – Business Law

PGDBA – I Semester

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 Multiple Choice Multiple Answer Question According to the Consumer Protection Act, 1986, a service includes Correct 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 Multiple Choice Multiple Answer Question Following persons cannot become a partners Correct Answer Corporation , an alien enemy with an Indian subject , company True/False Question There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital. Correct Answer True 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 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 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 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 Multiple Choice Single Answer Question Misrepresentation means and includes Correct Answer positive assertion of that which is not true Multiple Choice Multiple Answer

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Page 11 of 22

SCDL – Business Law

PGDBA – I Semester

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 Multiple Choice Multiple Answer Question A company is registered as an artificial person. It has no Correct Answer Body , Soul , Conscience Select The Blank Question Special resolution and confirmation by ________is required for alteration of Memorandum. Correct Answer Company Law Board Match The Following Question

Correct Answer

Cannot enter into partnership

Two partnership firms

Giving due notice

Dissolves partnership at will

Partnership Deed

Domicile of partnership firm

Not mandatory

Registration of partnership

Partnership firm

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 True/False Question A company is created by law and not by natural birth. Correct 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 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 Select The Blank Question An agent is simply blank a ________ between his principal and the third party. Correct Answer connecting link

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Page 12 of 22

SCDL – Business Law

PGDBA – I Semester

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 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 Select The Blank Question A proposal comes to an end by its ________. Correct 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 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 Multiple Choice Single Answer Question Which of the following is not a void agreement ? Correct 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 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 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 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

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Page 13 of 22

SCDL – Business Law

PGDBA – I Semester

True/False Question Copies of memorandum and articles shall not be given to members. Correct 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 Multiple Choice Single Answer Question Competent parties means parties should be Correct Answer major in age True/False Question Special agent and Particular agent mean one and the same thing. Correct Answer True Multiple Choice Single Answer Question The essence of contract of sale is Correct 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 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 Match The Following Question

Correct Answer

Unlawful Business

Dissolution of Partnership

Sub-partner

Sharing of profits by outsiders

Partnership

Association of two or more persons

Partners have to be

Competent

Partner lending his name only

Nominal partner

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Page 14 of 22

SCDL – Business Law

PGDBA – I Semester

True/False Question A Cheque is a Bill of Exchange. Correct Answer True Select The Blank Question One man holds practically the ________ of the share capital of the one man company. Correct Answer whole Multiple Choice Multiple Answer Question Limited companies can be formed for promoting Correct Answer Commerce , Art , Religion Select The Blank Question There should be a ________ and real necessity for creating an agency. Correct 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 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 Select The Blank Question The directors of a company have to file their consent with the ________ to act as director. Correct Answer registrar 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 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 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 Multiple Choice Single Answer Question In case of damages to the goods by a third party, only

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Page 15 of 22

SCDL – Business Law

PGDBA – I Semester

Correct Answer owner can take action Match The Following Question

Correct Answer

Minor's Agreement

Void ab initio

Threatning to commit

Coercion

Consideration

Past, Present and Future

Mistake

Fact and Law

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 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 True/False Question The writing of "Not Negotiable" is one and the same thing as that of special crossing. Correct Answer False 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 Multiple Choice Single Answer Question If there is a breach of condition, a buyer has an option to claim Correct 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 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 True/False Question The subscriber of the memorandum of a company on its registration shall be entered in its

Collected by Santosh. K

Page 16 of 22

SCDL – Business Law

PGDBA – I Semester

register of members as member. Correct 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 Select The Blank Question Every promise and every set of promises, forming the consideration for each other, is an ________. Correct 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 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 Multiple Choice Single Answer Question Negotiable Instrument can be drawn or accepted by duly authorised agent on behalf of Correct Answer principle Multiple Choice Single Answer Question Existing may be further classified as Correct 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 Select The Blank Question Agents are ________ to act within the scope of the authority given. Correct Answer authorised Select The Blank Question Articles are ________ to and controlled by the memorandum. Correct Answer subordinate Multiple Choice Multiple Answer Question Following persons can perform the contracts Correct Answer promissor , agent , legal representative

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Page 17 of 22

SCDL – Business Law

PGDBA – I Semester

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 True/False Question Partnership is nothing but a psychological relationship existing between the partners. Correct Answer False Multiple Choice Multiple Answer Question Partners by Estoppel or holding out are also called as Correct Answer quasi-partner , nominal partner Multiple Choice Single Answer Question Partnership at will is a partnership Correct Answer for an indefinite period Select The Blank Question Future consideration is also known as ________ consideration. Correct Answer executory True/False Question A Promissory Note contains conditional undertaking to pay a certain sum of money. Correct Answer False Select The Blank Question The person acting as an agent on behalf of the principal should act ________. Correct Answer honestly 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 Multiple Choice Single Answer Question Section 138 deals with Correct Answer dishonour of cheque 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 True/False Question The memorandum and articles shall, when registered, do not bind the company and the members thereof.

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Page 18 of 22

SCDL – Business Law

PGDBA – I Semester

Correct Answer False True/False Question No consideration is required in formal contracts. Correct Answer True Multiple Choice Single Answer Question Following is an implied condition Correct Answer Condition as to title 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 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 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 Select The Blank Question One of the two kinds of presentment of an Instrument is by ________ Correct Answer Payment True/False Question The Act is passed merely to settle the disputes of commercial transactions. Correct Answer False 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 Multiple Choice Single Answer Question Memorandum of a public company must be signed by Correct Answer Seven persons Multiple Choice Multiple Answer Question The Articles of Association are subsidiary to Correct Answer Companies Act , Memorandum of Association Multiple Choice Single Answer Question A breach of a condition may be treated as breach of

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Page 19 of 22

SCDL – Business Law

PGDBA – I Semester

Correct 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 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 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 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 Multiple Choice Single Answer Question A Company after its registration, possesses Correct Answer Legal entity Match The Following Question

Correct Answer

Penalty for false particulars

Imprisonment for three months

Partnership deed

Name, Place, Date

A statement in prescribed form and accompanied by fees

Required for registration

The registrar of firms

To rectify any mistake

Select The Blank Question In ________ contract, all the parties perform their promise. Correct 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 True/False Question Memorandum is adopted to control internal operations of the company. Correct Answer False

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Page 20 of 22

SCDL – Business Law

PGDBA – I Semester

True/False Question Under the Consumer Protection Act of 1986, goods include actionable claim and money. Correct Answer False Multiple Choice Single Answer Question A company can sue and also be sued by Correct Answer In its corporate name 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 Multiple Choice Single Answer Question In contract of sale the buyer becomes Correct Answer Absolute owner of the property Multiple Choice Multiple Answer Question Consent is free when it is not caused by Correct 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 Multiple Choice Single Answer Question A pardanashin woman means a woman who Correct Answer observes seclusion, because of curom Multiple Choice Multiple Answer Question A sale can be in case of Correct Answer specific goods , existing 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 Multiple Choice Single Answer Question The capacity to contract with an agent is the part of the law of Correct Answer statute Select The Blank Question A minor, who is admitted to the benefits of partnership, must give a public notice within

Collected by Santosh. K

Page 21 of 22

SCDL – Business Law

PGDBA – I Semester

________ months. Correct Answer six

Collected by Santosh. K

Page 22 of 22