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Legal Aspects of Business (MB0051) PART A 1. Law is a body of ___________________ . A) Rules B) Governance C) Ministry. D) RBI 2.

________ give complete freedom to banks to fix interest rates A) Central government B) State government C) RBI D) National Commission 3. Statues such as the Indian contract Act 1972 the sale of goods act 1930 are the sources of ______. A) Registrar of companies B) SEBI C) Indian business law D) Supreme court of India. 4. The Enron Development Corporation of USA started construction in Maharashtra ___________. A) April 1995 B) May 1965 C) June 1987 D) July 1991 5. The Maximum “ignorantia juries non excusat” means _______________ Ignorance Ignorance Ignorance Ignorance of of of of act is not a good execute pollution is not a good execute law is not a good execute government is not a good execute.

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7. According to _____proposal when accepted becomes a promise A) Sec 3(e) B) Sec 2(b) C) Sec 4(c) D) Sec 5(b) 8. __________means an offer made by words A) Written offer B) Oral offer C) Proposal D) Express offer 9. The Indian Contract Act 1872 is based mainly on _____ A) Indian Common Law B) English Common Law C) East India Company D) National law 10. Coercion is the committing or threatening to commit any act forbidden by the ___ A) High Court B) Supreme Court C) Circular from ministry D) Indian Penal Code 11. The person to whom the guarantee is given is called ____ A) Debtor B) Creditor C) Supplier D) Owner 12. The person who gives the guarantee is called ____ A) Debtor B) Guarantee C) Security D) Holder 13. According to ___ a guarantee which extends to a series of transaction is called a continuing guarantee. A) Sect 129 B) Sect 30 C) Sect 240 D) Sect 24

6. Sec 2 (E) defines an agreement as every __________ and every set of promise forming consideration for each other. A) Consent B) Permission C) Agreement D) Promise

Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV, Laptop, IPOD) for details visit

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At one time or another. ______ is agent who is employed to buy or fell goods or transects business. Which section has the provision to employee certain categories of baileys? A) Sect 173 B) Sect 178 C) Sect 171 D) Sect 175 19. A) Agent to have a penalty B) Agent will have to behind dares C) Everything consistent with proved facts will presumed against him. The essence of _______________ is delivery of goods by one person to another for some temporary purpose. IPOD) for details visit www. Sect 135 provides a contract between ____ and ____ A) Creditor and supplier B) Creditor and principal debtor C) Creditor and government D) Debtor and bank 15.halo. you enter in to a legal relationship called ___ A) Contract and agreement B) Contract and pledge C) Bailment and pledge D) Bailment and agreement 17. The contract of surety is _____ contract A) Void contract B) Valid contract C) Dependent contract D) Independent Contract Which Act and section put the limit of 10 partners in case of banking business and 20 in case of any another business. A) Partnership ACT 1932 (sec 20) B) Companies ACT 1956 ( sec 11) C) Companies ACT 1956 (sec 14) D) Partnership ACT 1932 (sec 18) Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV. Who is agent? MBAN2 . Who can create a valid pledge under sect 30 of the sale of Good act? A) Seller B) Buyer C) Debtor D) Loan creditor 20. What kind of punishment will agent Act of he fails to keep proper accounts of the principal business. Which section and Act makes provisions as regards agency. A) Retail agent B) Wholesale agent C) Commission agent D) Interest agent 26. Commodatum is a component of _______________ A) Bailments B) Pledge C) Consideration’ D) Consent 21. A) Bailment B) Contract C) Agreement D) Consent 18. A) The Indian partnership Act 1932 B) The Indian contract ACT 1872 C) Companies ACT 1956 D) Sale of goods ACT 23) Which agency is as effective as an express agency? A) Ostensible agency B) Trade agency C) Manufacturing agency D) Corporate agency Page 2 of 6 .3 A) A person to conduct a trade B) A person who carries transaction C) A person employed to represent another dealings with the third person D) All above 22. D) Agent will not give his payment 25.Legal Aspects of Business (MB0051) 14. Laptop.

movable and immovable D) Perishable. perishable and non perishable C) Page 3 of 6 . Which documents may construed either as a promissory note or as a bills of exchange? A) Cheque B) Hundies C) Ambiguous instruments D) Post cards 38.partner 30. The relations of ______ to one another as regard their rights and duties are governed by sec 9-17 of the ACT A) Director B) Partner C) Sole trader D) Co. Laptop. The liabilities of partners is ______ A) Limited B) Unlimited C) Obligatory D) Non-obligatory 31. Which act contains ‘ negotiable instruments’ A) Negotiable instruments ACT 1881 B) Negotiable instruments ACT 1895 C) Negotiable instruments ACT 1902 D) Negotiable instruments ACT 1985 37. MBAN2 . A) Assets B) Liabilities C) Movable property D) Only trade goods.halo.3 34. Which document is required to be stamped according to the provision of the stamp Act 1899 A) MOA B) AOA C) Partnership Deed D) Certificate of incorporation 29. Who is endorser? A) The person who draws a B) The person who sale the goods C) The person who endorses the note in favour of another person D) The person in whose favour the note is negotiated by endorsement 40.Legal Aspects of Business (MB0051) 27. Which of the following is not covered under sale of good ACT? A) Sale of investment B) Sale of immovable property C) Sale of service D) Sale of sorap 33. IPOD) for details visit www. movable and immovable 35 What is the meaning of price? A) Currency of the nation B) Reward for the product C) Purenasing power of the commodity D) Money consideration for the sale of good 36. A) Existing. future and contiqent B) Existing. Which section recognizes promissory note and bills of exchange in negotiable instruments act? A) Sec 13 B) Sec 14 C) Sec 26 D) Sec 2 Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV. Which section defines a contract of sale? A) Sec 4 B) Sec 5 C) Sec 6 D) Sec 7 32. Goods may be classified as ______. Which section contains in Choate stamped instruments under negotiable instruments act? A) Sec 25 B) Sec 28 C) Sec 20 D) Sec 40 39. Goods means every kind of _______. The law relating to partnership in India is contained in _______ A) The companies Act 1956 B) Sale of goods act C) The partnership Act 1932 D) The companies Act 2002 28.

3 48.halo. A) Crime B) Fraud C) Application D) Penalty 52. A) Prime –minister B) Chief –minister C) Government D) State-commission 47. 53.Legal Aspects of Business (MB0051) PART B 41. B) Obligatory to members of the society C) Carefully to general 43. Sec 40 authorities ______ to extend copy right protection to foreign works. Laptop. A) Application of law B) Operation of law C) Jurisdiction of law D) Permission of law Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV. C) Equity means the legal procedure with the Application to Registrar of company D) Equity means a body of state government and rules emanating from the administration of Justice. What is the statue law? A) Oral law B) Registered law C) Written law D) Government law MBAN2 . In the case of government work ____ is the owner of the copyright in the absence of any agreement to the contrary. 49. D) Registered under Supreme A) Enforcement B) Endorsements C) Bailment D) Pledge 46. A) As similar to offer and against the acceptor B) As against the offer or and against the acceptor C) As against the law and against the acceptor D) As against the system and against the acceptor 51. The person executing the deed is known as _____. IPOD) for details visit www. A promise made without any intention of performing it is a _____. The power of attorney is required to be enqrosted on _____. A) Surety B) Debtor C) Creditor D) Donor 44. Page 4 of 6 . A contract of indemnity may arise either by an express promise or ______. What is the meaning of ‘Equity’? In legal aspect? A) Equity means the legal procedure in the law B) Equity means a body of legal doctrines and rule emanating from the administration of Justices. A voidable contract is one which may be repudiated at the will of _____ or more of the parties but not by _____. Which two sections provide the contract of indemnity? A) 123 and 126 B) 124 and 125 C) 129 and 130 D) 121 and 126. The completion of communication of acceptance has two aspects . How the law is made and to whom? A) Mandatory to police. A) Central Government B) Foreign exchange board C) State Government D) Parliament 42. A) One – others B) Two-members C) Five-officers D) Nine-ministers 50. A) Judicial Stamp paper B) Non-judicial stamp paper C) Judicial Agreement D) Non-judicial Agreement 45. An ______ is the mode of negotiating a negotiable instruments.

D) None of two. 60. A) Drawer in a due course B) Holder in a due course C) Debtor in due course D) Creditor in due course 62. 58. C) All of two.halo. bill of exchange or cheque. A ______ is a person who for consideration became the possessor of a promissory note. 59. A) To take care of goods bailed B) To maintain the quality of goods C) Not to make unauthorized use of goods D) To return the goods bailed without demand. The law relating to the contracts of guarantee is given in the Indian contract act _________. MBAN2 . To return the __________ without____________ is the provision of sec 160 of contracts bailment and pledge.Legal Aspects of Business (MB0051) 54. A) Death and insanity B) Death and insolvency C) Fraud and insanity D) Fraud and crime. PART C 61. Laptop. A) 1965 B) 1872 C) 1892 D) 1990 57. A) Agriculture process and Grading and Marketing act B) Agriculture products and Grading and Marketing act C) Agriculture products and Graduate and Marketing act D) None 64. All are the kind of bailment except ______. A) Commodatum B) Hire C) Deposit D) Loan 56. ______ and ____ of the principal or the agent terminates the agency. A) Goods and pledge B) Goods bailed and demand C) Goods bailed and supply D) Service bailed and demand. One of the following is not a duty of bailes. Who is sub-agent ? A) A person acting under the control of the original agent B) A person employed by an original agent. IPOD) for details visit www. AGMARK stands for. Transfer of cases comes under which section? A) Sec 22 B B) Sec 22 C C) Sec 22 D D) Sec 22 A Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV. Which agency is created when spoken or written words an authority is given to an agent? A) Agency by estoppel B) Agency by express agreement C) Agency by debtor D) Agency by Page 5 of 6 . Which amended of consumer protection act permitted representative complaints? A) Consumer protection act 1991 B) Consumer protection act 1992 C) Consumer protection act 1993 D) Consumer protection act 2003 63.

4-a D) 1-b. Public deposit D) Equity. and 5 B) 1. 3. Match the following and choose the correct words. Right to legal representation comes under. 4. MBAN2 . Rights of patents of lapted patents which have been restored under ____. Ensure freedom of trade carried on by other participants in market in India. A) Rs 300 per day B) Rs 400 per day C) Rs 500 per day D) Rs 200 per day Page 6 of 6 . C) Decryption is the reverse process of converting original in-encoded form to its encoded data. Protect the interest of consumers. Eliminate practices having adverse effect on competition. 73. D) Dramatic. 3-c 71. 75. A) Sec – 62 B) Sec – 65 C) Sec – 66 D) Sec – 51 74. 4-d C) 1-c. What are the duties of commission? 1. 4-d B) 1-c. Establishment of cyber appellate tribunal Composition of cyber appellate tribunal Term office. 4 and 5 D) 2. Choose correct option. 2. 1957. 4. Resignation and removal. Define the following term as used in the copy right act.Stock. A) Sec 104 to sec 116 B) Sec 104 to sec 117 C) Sec 108 to sec 117 D) Sec 104 to sec 115 Refer a friend & Win Assured Cash Prizes + Gifts (LCD TV. A) 1. 4 and 5 66. SEBI STANDS FOR. 3.Legal Aspects of Business (MB0051) 65. Deferred B) Preference. If the contravention continues the penalty of Rs_____ after the first day during the period in which the contravention continue shall be imposed. D) None of them. 3-d. 3.halo. 1. A) International Personal Computer B) Indian Personal Computer C) International Penal Code. 5. Prefernce. and 5 C) 1. Dividend and debentures C) Preference . ______ deals with the subject of suits concerning infringement of patents. Promote and sustain competition. A) Stock Exchange Board of India B) State Exchange Board of India. IPOD) for details visit www. 3. IPC stands for. a)sec 48 b)sec 51 c)sec 49 d)sec 54 A) 1-a. C) Stock Exchange Bank of India D) None 69. 2. B) Decryption is the reverse process of converting encoded data to its electronic device. 2-a. 2-c. D) Indian Penal Code 68. A) Artistic work B) Cinematograph film C) Copy right. A) Preference. A) Sec 59 B) Sec 60 C) Sec 61 D) Sec 65 72. 2-b. 3-b. Stock.3 70. 4. To file returns in government. 2-b. 2. Equity. 4-d. What is the meaning of decryption? A) Decryption is the reverse process of converting encoded data to its un-encoded form paintoet. Following are the provision of cyber regulation appellate tribunal. This is the classes of shares. 3. Laptop. 2.