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Business Law Combined

Business Law Combined

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Published by: api-3830728 on Oct 18, 2008
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03/18/2014

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LIST OF ATTEMPTED QUESTIONS AND ANSWERS
BL1
Match The Following

Question Correct Answer Your Answer
Unascertained goods Generic goods Generic goods
Unpaid seller Right of lien on goods Right of lien on goods
Future goods Agreement to sell Agreement to sell
Identified goods Ascertained 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
Your 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
Your Answer
denied 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
Your Answer

It is of fundamental in nature , It directly goes to
the root of the contract , 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
Your Answer
A Sale
True/False
Question
Partners can decide their rights and liabilities in the
partnership deed.
Correct Answer
True
Your 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.

Your Answer

To add "services" relating to housing constructions , To enable filing class action complaints , To impose punishment on the complainant in cases of vexatious complaint.

Multiple Choice 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

Your 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.
Correct Answer
nominal value
Your 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 re-
deliver the goods to the seller.

Correct Answer
Carrier
Your Answer
Buyer
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
Your 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
Your Answer
Actionable claims , Debentures
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
Your 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

Your Answer
Acquire movable property on behalf of the firm ,
Transfer movable property belonging to 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
Your 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
Your 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
Your 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
Your 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
Your Answer
suit for interest , repudiation of contract
Multiple Choice Multiple Answer
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

Your Answer
the liability of the endorser is limited , the
liability of the endorser is negative
Multiple Choice Multiple Answer
Question
The companies having Articles are
Correct Answer
Unlimited Company , Company limited by guarantee ,
Company limited by shares
Your Answer
Public Limited Company , 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

Your Answer

act done in personal capacity , 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
Your Answer
statutory rights
True/False
Question
Mental acceptance amounts to an acceptance.
Correct Answer
False
Your Answer
False

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