Answer sheet for - "New_Assignment_LBE_1" Scored: 20 / 30 Time taken: 20 Min , 27 Sec

1. Which of the following are the major components of the internal environment of an organisation?
Which of the following are the major components of the internal environment of an organisation?

2 / 2 Marks Correct

Organisational Resources

Core Competencies

Organisational Capabilities

All of these 

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2. The subject of law and justice is handled by the

The subject of law and justice is handled by the

2 / 2 Marks Correct

Ministry of Law and Justice 

Ministry of Social Justice and Empowerment

Ministry of Corporate Affairs

None of these

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3. As per the Indian Contract Act an agreement is equal to

As per the Indian Contract Act an agreement is equal to

0 / 2 Marks Incorrect

Offer + Acceptance

Offer + Promise

Acceptance + Consideration
 Promise + Consideration 

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4. Which of the following statements are correct?

(i) An agreement may or may not be legally enforceable.
(ii) An agreement that is not legally enforceable is called a void agreement.
(iii) An agreement that is legally enforceable by law is defined as a contract.
Which of the following statements are correct?
(i) An agreement may or may not be legally enforceable.
(ii) An agreement that is not legally enforceable is called a void agreement.
(iii) An agreement that is legally enforceable by law is defined as a contract.

2 / 2 Marks Correct

Only (i) and (ii)

Only (ii) and (iii)

Only (i)

(i) (ii) and (iii) 

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5. Which of the following elements are mentioned in the definition of a valid contract?
Which of the following elements are mentioned in the definition of a valid contract?

2 / 2 Marks Correct

Lawful consideration

Capacity to contract

Lawful object

All of these 

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6. A contract between two parties arises when there is no agreement but due to obligations created
by law it is called
 A contract between two parties arises when there is no agreement but due to obligations created by law
it is called

2 / 2 Marks Correct

Unilateral contract

Executory contract

Implied contract

Quasi-contract 

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7. Which of the following schools of law believes that laws are shaped by social forces and needs?
Which of the following schools of law believes that laws are shaped by social forces and needs?

2 / 2 Marks Correct

The positivist school

The natural law school

The historical school

The sociological school 

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8. Which of the following organisation is not an example of Distinctive Competency?

Which of the following organisation is not an example of Distinctive Competency?

2 / 2 Marks Correct

Walmart

Sharp Corporation

Sony 

Intel

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9. The monetary value of all the finished goods and services produced within a country?s borders
in a specific time period is known as ________.
The monetary value of all the finished goods and services produced within a country?s borders in a
specific time period is known as ________.

2 / 2 Marks Correct

gross domestic product 

net domestic product

net national product

gross national product

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10. Which of the following criteria is mentioned by Prahalad and Hamel for core competency?
Which of the following criteria is mentioned by Prahalad and Hamel for core competency?

0 / 2 Marks Incorrect

Make it difficult for competitors to imitate

Make significant contribution to a wide variety of markets

Provide benefits to consumers

All of the above 

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11. The term ?________? is used instead of the term ?offer? in the Indian Contract Act 1872.
The term ?________? is used instead of the term ?offer? in the Indian Contract Act 1872.

2 / 2 Marks Correct

accessible

available

proposal 

provide
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12. Which of the following is/are the rights of ?Indemnified??

Which of the following is/are the rights of ?Indemnified??

0 / 2 Marks Incorrect

To claim for all damages

To claim for all costs related to contract

To claim for all sums which he may have paid for contract

All of the above 

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13. An agreement if it is enforceable by Law at the option of one or more of the parties there to and
it is not enforceable by Law at the option of the other or others is called
An agreement if it is enforceable by Law at the option of one or more of the parties there to and it is not
enforceable by Law at the option of the other or others is called

2 / 2 Marks Correct

Reciprocal promise

Incomplete agreement

Voidable agreement 

Void contract

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14. In India the Union Ministry of Law maintains a digital repository of all the central legislation
state legislation and legislation made for union territories. This repository is known as the
In India the Union Ministry of Law maintains a digital repository of all the central legislation state
legislation and legislation made for union territories. This repository is known as the

0 / 2 Marks Incorrect

Legal Register of India

 India Code 

Indian Legal Journal

Indian Acts

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15. An invitation to tender is

An invitation to tender is

0 / 2 Marks Incorrect

A promise

Not a promise but is an invitation to offer 

A Proposal

None of these

 comments