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SUBJECT CODE: SUBJECT
: Legal Aspects of Business
SECTION A-1 mark questions
1. When a particular course of conduct is followed again and again, it becomes …………….. a. Statutes b. Judicial precedents c. Personal law d. A custom 2. a. b. c. d. 3. a. b. c. d. The doctrine of judicial precedent is also known as the doctrine of Stare decisis Obiter dicta Stare decisis & Obiter dicta Obiter dicta & Stare decisis Out of these four, which one is not the source of English law? Common law Business law Equity Statute law
4. Contracts may be classified in 4 parts according to their validity. Out of the following which 1 is not the part of contract classification? a. Valid b. Voidable c. Void d. Invalid 5. Here are some essentials or characteristics of contract. Out of these, which statement is incorrect? a. A contract is an agreement b. A contract is enforceable by law c. A contract comprises 1 party d. A contract can be done in writing as well as oral. 6. a. b. c. Every person is competent to contract if he is Major Lunatic Indulge in illegal act
12. The pledgee is bound to return the goods on payment of the debt. The pledgor has a right to claim back the security pledged on repayment of the debt with interest and other charges b. 124 and 126 Secs. Sec. The pledgee can put the goods to an unauthorised use. The person who gives the guarantee is called …………………. Sec. c. b. Sec. Sec. Right of contribution d. d.168 b. Both a & b 10. d. c. a. a. Hire c. An ……………… is a person employed to do any act for another or to represent anotherAgent in dealing with the third persons a.d. 126 and 127 Secs. Drunk 7. Right of subrogation b. b. "The surety has a right to recover from the principal debtor the amounts which he has rightfully paid under the contract of guarantee. c. 124 and 125 Secs. Which one of the following is not the type of bailment? a. Out of the following which statement is incorrect? a. Right to sell comes under which section a.167 c. 125 and 126 9. Deposit d. Loan 11. Agent b. Principal debtor Surety Creditor Buyer Under which section Contract of indemnity comes ? Secs. Commodatum b.170 13.169 d. Agency by Express Agreement . Right to be indemnified c. 8. d." Which right of surety against debtor is this? a. the pledgor is entitled to receive from the pledgee any surplus that may remain with him after the debt is completely paid off. In case of sale.
Agency by Estoppel d. Principal 16. A company. ……………. …………… lay down the rules which determine when property passes from the seller to the buyer. Partnership is an association of one person b. Sub-agent 14. Partnership must be the result of an agreement between two or more persons d. A firm can enter into a partnership agreement with another firm d. 1984 17. There can be thirty partners in a firm b. A ………………… is a mercantile agent engaged to buy and/or sell property. incorporated under the Companies Act. Age of majority b. Broker b. Out of below mentioned eligibility criteria of an agent which one is not correct? a. A partner is not entitled to claim remuneration 18. 1956 b. Should not have criminal record d. Point out the incorrect statement out of the following: a. a. a. Agent d.c. Death or insanity of the principal or the agent not terminates the agency. Lunatic 15. can enter into a contract of partnership a. The agreement must be to carry on some business c.. 1950 d. Sound mind c. 1972 c.18 to 25 . 19. Secs. Partnership‟ and „firm‟ are synonymous c. Advisor c. Out of the following which statement is not correct? a.
Written instrument b. The endorser d. Secs. A certain sum of money d. Payee to be uncertain 24. Which one of the following is not complaint? . The maker b. Accept the goods. what can the buyer do? a. 15 to 35 d. Payee to be certain d. Right to specific performance d. Unconditional order c. Right to reject the goods c. Only reject the goods if defective 21. The payer 23. but sue for damages c. Unconditional order 25. even if not defective d. Accept the goods. Dating of cheques c. Which of the following is not a remedy available to buyers? a. Secs 17 to 34 20. but claim compensation b. Payable on demand b. Which requisite of a cheque has he missed here? a.b. 'A' made a cheque in favour of 'B' filled it with all requisites but he forgot to enter the date in the cheque. Right to damages b. Secs 16 to 30 c. If a buyer finds that goods have been incorrectly described. Right to demand replacement goods 22. The payee c. Which one of the following is not a party to a promissory note? a. Which of the following is not a requisite of a cheque? a. Reject the goods.
then where should a consumer file the complaint? a. Right to be heard b. …………… means right to be assured. Competition Commission of India c. wherever possible. District Forum d. Right to be informed d. Product b. access to a variety of goods and services at competitive prices. c. Value of sales of goods or service includes in a. The goods bought by him or agreed to be bought by him suffer from no defect(s) in any respect. b.a. his legal heir or representative d. Inquiring into certain agreements d. All of the following are the power and functions of commission EXCEPT a. Right to safety 27. claimed exceeds Rs one crore. State Commission b. National Commission c. If the value of goods or services and the compensation. Competition Collaboration of India d. a. Computer Competition of India 30. Consumer Commission of India b. The services hired or availed of or agreed to be hired or availed of by him suffer from deficiency in any respect. Power to review its own orders c. Right to choose c. Service . Supreme Court 28. if any. Power to award compensation b. Power to reject the orders 29. Goods which will be hazardous to life and safety when used are being offered for sale to the public 26. CCI stands for a. In case of death of consumer.
Promotion d. 500 per day d. Registration c. Pakistan Indian Organization b. 1989 36. 12th August.. Formation 35. 1984 d. 400 per day c. International Penal Code d. 14th March. International Personal Computer b. 200 per day 34. Indian Penal Code 33. it is ready for …………………. When a company has been registered and has received its certificate of incorporation. The Presiding officer shall hold office for a term of ……………. Person of Indonesian Origin 32. …………… after the first day during the period in which the contravention continue shall be imposed. Rs. was implemented in our country on ……………………… a. Person of Indian Origin d. a. RTI Act. Indian Personal Computer c. Profit 31. 300 per day b. 5 years . 2002 c. Turnover d. Floatation b. 15th June. In reference to this chapter PIO stands for a. IPC stands for a.c. 20th April. from the date on which he enters upon his office a. Rs. If the contravention continues. the penalty of Rs. 2005 b. a.. Pakistan Indian Origin c. Rs. Rs.
21st December. If a person is selling or giving on hire. A Proprietor b. dramatic or musical work b. The person who made the payment c. The employer SECTION B-2 Marks Questions 41. Literary. 15th August. Law is a body of rules . 1975 d. Any industrial undertaking carried on by a Government company as defined in Sec. 1970 38. 7 years c. a. A Painter d. Any industrial undertaking owned and governed by a set of people d. regardless of whether such copy has been sold or given on hire on earlier occasions. The Patent Act came into force on ……………………. If the photograph is taken or a painting or portrait is drawn or an engraving or cinematograph film is made on payment at the instance of any person. Artistic Work d. 10 years 37. Cinematograph Film 40. Any industrial undertaking carried on by a corporation established by a Central or State Act which is owned or controlled by the Government c. then this case of copyright will fall under which category? a. 1970 b. 39.b. or offering for sale or hire any copy of the computer programme. Out of the following. 3 years d. 14th July. which characteristic of law is false? a. Computer programme c. then who is the first owner of the copyright therein? a. 1950 c.617 of the Companies Act. Which of the following is not an essential of Government undertaking? a. 21st September. 1956. Any industrial undertaking carried on by a department of the Government b.
Out of the following what type of suit is not valid or seller cannot sue it? . a. Partnership at will b. The bankruptcy of the principal c. d. Law is for the guidance or conduct of persons – both human and artificial c. a. Particular partnership d. The bankruptcy of the agent b. b. means to make good the loss or to compensate the party who has suffered some loss. May throw the goods away after three days. offer only 43. Which of the following circumstances will not cause the agency relationship to terminate? a. The partnership which is formed to complete a particular venture or a particular undertaking and dissolve after its completion are called…………………. Law is imposed d. a. Four basic ideas involved in law 42. Contract of Indemnity c. Contract of Guarantee d.. Has the no liability to the owner if the property is damaged. Partnership 47. ……………. offer + enforceability b. Is a constructive bailee who is bound to take reasonable care of the property under the circumstances? c.b. offer + acceptance d. The death of the agent 46. offer + legal obligation c. The death of the principal d. A finder of lost property: a. Continuing Guarantee 44. Has expressly contracted to care for the goods. Indemnity b. 45. Limited partnership c. An agreement is an ………………….
. Promote and sustain competition c. 1998 d. A person who puts or causes to be put his own mark on any goods made or manufactured by any other manufacturer 50. The endorser b. A Hindu Undivided Family b. 1974 c. Protect the interests of consumers d. The person to whom the bill is negotiated by endorsement called ……………. Receive any payment by order or on behalf of any person resident outside India in any name. Eliminate practices having adverse effect on competition b. Out of the following. Suit for damages for non-acceptance c. The holder c. A person who does not make or manufacture any good but assembles part thereof made. The endorsee 49.a. d. Which of the following is not a duty of commission? a. which statement related to the powers of authorised person is not correct: a. The expression „Manufacturer‟ for the purpose of this Act. 1999 52. In which year FEMA replaces the FERA? a. EXCEPT a. A person who makes or manufactures any goods c. Suit for paying partially 48.. means any of the following. a. The payee d. 1973 b. Approval of the proposal relating to merger or amalgamation 51. To deal in or transfer any foreign exchange or foreign security to any person b. Suit for price b. Suit for interest d.
Upon the death of the subscriber c. 30 days 54. 15 days c. A Certifying Authority while issuing a Digital Signature Certificate shall certify that: (Identify the wrong statement) a. listed in the Digital Signature Certificate d. NRSR and FCNR accounts d. NRE. A Certifying Authority may revoke a digital signature certificate issued by it: (Identify wrong statement) a. Company and its members d. The information contained in the Digital Signature Certificate is accurate 56. Company and government b. To open NRO. It has published the Digital Signature Certificate or otherwise made it available to such person relying on it and the subscriber has accepted it c. Company and its owners c. Change of name of the company must be communicated to the Registrar of companies within how many days? a. d. NRNR. 53. The subscriber holds the public key. 20 days b. Where the subscriber or any other person authorised by him makes a request to that effect b.c. 10 days d. An authorised person is allowed to credit the account of any person without any corresponding remittance from any place outside India. Article of association of a company has a contractual force between: a. Both A and B 55. Upon the dissolution of the firm or winding up of the company where the subscriber is a firm or a company . It has complied with the provisions of this Act and the rules and regulations made thereunder b. Where any person having no contact with subscriber appeals the authority to do so.
Secs. ¢ c. 5 % b. Arzoo went into a restaurant and took a cup of tea.104 to 116 b. a cassette). Grant of compulsory Licence 59. or manufacture a particular thing or allow others to do so only at his best. Disposal of applications for restoration of lapsed patents d. Indian Property Rights 62. ……………deals with the subject of suits concerning infringement of patents. record music. Intellectual Promising Rights b.104 to 118 d.57. Intellectual Property Rights c. In this case of IPR. no contract by Arzoo to pay for the cup of tea b. How much of a journal or book do you think it is considered fair dealing to copy? a. the subject matter of proprietary interest is not the product (such as a book. Suppose a musical copyright in respect of songs. a. © 60. an implied contract that she will pay for the cup of tea c. Secs. but the exclusive right of the author or singer or inventor to publish a book. both b and c SECTION C-4marks Questions 61. a quasi-contract to pay for the cup of tea . In this case there is a. Secs. What does a copyright notice look like? a. Here which IPR or rights are being discussed? a.104 to 115 58. Patents of Addition b. If the Controller is granting the patent for the improvement or modification. tunes belongs to the author as his property. Restoration of Lapsed Patent c. International Property Rights d. then it will be defined under which of the following term? a. Ø d. an express contract to pay for the cup of tea d. # b. 20% c. Secs. 15% d.104 to 117 c.
Revati issued National Bank a promissory note for $120. 10. The variable interest rate tied to the prime rate will not affect the negotiability of the note. The four-corner rule requires that instruments contain every piece of information needed to determine the rights on the instrument. Later Y is planning to gift something from that money to A.000. By the insolvency of all the partners but one c. On the expiry of 6 months X must return the cooler. b. Expiry of the stipulated period c. Bailee‟s inconsistent act with conditions of bailment d. X c. In this case X as an agent is entitled to imply which right? a. Why X has to return the cooler or what type of termination of bailment is implied here? a. Right of indemnification b. Right to remuneration 66. X is about to deliver goods to Y his principal and came to know that Y became insolvent. The note is not negotiable because of the variable interest. Accomplishment of the specified purpose b. c. Y 64. The note is not negotiable because the interest rate is tied to the prime rate.63. Right of stoppage in transit c. Right of retainer d. . Lien on goods b. Which of the following right of seller is not correct here? a. The note does not state a fixed amount of money. . Poonam is an unpaid seller enjoying some rights. By agreement b. What type of dissolution of firm is implied here? a. Z d. By business becoming illegal 67. A gratuitous bailment may be terminated at any time 65. A room cooler is hired by X from Y for a period of 6 months. A. The note stated a variable interest rate tied to the prime rate. Right of stoppage in transit c. Suit for price 68.000 to Y by Z (a banker). By mutual consent d. Which statement is correct concerning the negotiability of the note? a. B and C discussed together and decided to dissolve their firm and end the partnership. X guarantees the repayment of a loan of Rs. Who is surety here? a. A b. Right of resale d. X purchased goods on behalf of Y by paying from his own pocket for the time being.
.. Which one of the following is not a duty of an authorised person or which statement is wrong? a. I year 74. This meeting of rohan industries must be held in each calendar year and not more than fifteen months shall elapse between two meetings. Statutory meeting d.. To ensure compliance of FERA provisions c.. Right to consumer education 70. 2 years b. Right to seek redressal d. design and layout and program analysis or computer resource in any form. Not to engage in unauthorized transactions 72.. Raindrop company is undertaking carried on by a department of the Government. runs the business of jute handicrafts..... General Meeting 73. 5 years d..... 3 years c. Suppose if knowingly or intentionally Raman conceals. To ensure compliance of FEMA provisions b... Extra-ordinary Meeting (EGM) b. If an enterprise directly or indirectly... Government undertaking b. This company is: a.. Annual general meeting (AGM) c.. imposes unfair or discriminatory condition in purchase or sale of goods or service and restricts production of goods or scientific development relating to goods or services.. Statutory Authority 71..d... computer commands.. both (a) and (b) 69. he expression “computer source code” means the listing of programs. a.... The maximum gap between their two such meetings may be extended by three months by taking permission of the Registrar.. To comply with RBI directions d.. Poonam being a consumer acquiring the knowledge and skill to be an informed consumer. What type of meeting is this? a. who may so allow for any special reason. Abuse of Dominant Position b.. Right to choose c. It will come under which right of consumer? a. then this term will be called . destroys or alters this computer source code. he shall be punishable with imprisonment up to . Private undertaking . Merger or Amalgamation c... a.. Right to safety b. Anti-competitive Agreements d...
Both Sam and ABC Inc. Sam b. Public and Private company d. to create a new logo for ABC. Rick . ABC Inc. c. The owner of the copyright is likely: a. The project will last one week.c. Sam is a graphic artist who has been hired by ABC Inc.. Sam works at home and receives no benefits from ABC. Joint ownership company 75. as joint owners d.
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