BUSINESS LAW ONE MARK

QUESTIONS

a)Law is either private law or _________ law.

1)Public
2)Private
3)Local
4)Family
5)None of these

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1
b) A breach of contract can be of ___________ breach

1)Discharged
2)Illegal
3)Void
4)None of these

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1
(c) How many parties are there to a Promissory note?
(1) Two parties
(2) One party
(3) Four party
(4) Three parties
5)None of these

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3
(d) A minor can be an _____________?

1) Surety
2) Agent
3) Partner
4) All of these
5)None of these

Answer - Click Here:2

(e) Public Law is divided into ________ categories?

1)Three
2)Four
3)Two
4)None of these
 BUSINESS LAW ONE MARK
QUESTIONS

Answer - Click Here:2

(f) An agreement that is caused by fraud, misrepresentation &

coercion is _____?
1)Voidable
2)Partially Void
3)Valid
4)All of these
5)None of these

Answer - Click Here:1

(g) The person which is represented as an agent ______?

1) Middleman
2) Owner
3)None of these
4) Principal

Answer - Click Here:4

(h) Public law includes _______law?

1) Administrative
2) Constitution
3) Criminal
4) All of these
5)None of these

Answer - Click Here:2

(I) Contingent goods belongs to _______ goods?

1)Existing
2)Future
3)Contingent
4)None of these

Answer - Click Here:2

(J) Is voidable contract?

1) Partly valid agreement
2) An illegal agreement
3) All of these
4) None of these
 BUSINESS LAW ONE MARK
QUESTIONS

Answer - Click Here:4

According to Contract Act, Select the true about the “Contract”?

A. Legal Term
B. Binding agreement
C. Always in written
(A) B only
(B) A and B only
(C) A, B and C

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(C) A, B and C

A Contract can be signed between

(A) Individuals
(B) Legal Entities
(C) All of the above A and B
(D) None of these

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(C) All of the above A and B

In general, Partnership entails which one of the following liability?

(A) Unlimited Liability
(B) Limited Liability
(C) No Liability at all
(D) Both A and C

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(B) Unlimited Liability

Select the best of partnership that entails more legal benefits?

(A) Unlimited Liability Partnership
(B) Limited Liability Partnership
(C) Ordinary Partnership
(D) None of these

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(A) Unlimited Liability Partnership

Reciprocal represent the meaning of

A.One sided contracts
 BUSINESS LAW ONE MARK
QUESTIONS

B.Trilateral contracts
C. Bilateral contracts
D.None of above

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B.Trilateral contracts
…..is the promise which forms the consideration or part of the
consideration for each others.
A. Reciprocal promise
B. Conditional promise
C. Simple promise
D. None of above

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C. Simple promise

A proposal may be revoked by different ways as are provided in which one

of the followings section of the Contract Act 1872.
A. 6
B. 7
C. 8
D. None of above

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A. 6
How many ways for revocation of proposal, according to the section 6 of the
Contract Act, 1872
A. 2
B. 3
C. 4
D. None of above

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C. 4

Which one of the following is the agreement that is not enforceable by law
is?
A. Valid agreement
B. Void agreement
C. Voidable agreement
D. None of above
 BUSINESS LAW ONE MARK
QUESTIONS

Answer - Click Here:

B. Void agreement

Which one of the following is the agreement that is enforceable by law?

A. Contract
B. An agreement
C. Both (a) and (b)
D. None of above
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A. Contract
The Section 5 of the Contract Act, deals with which one of the followings;
A. Communication of contract
B. Revocation of proposals and acceptances
C. Acceptance of contracts
D. None of above

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B. Revocation of proposals and acceptances

Which one of the following is the agreement that is ceases to be enforceable

by law becomes void when it ceases to be enforceable?
A. Valid contract
B. Void contract
C. Voidable contract
D. None of

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B. Void contract

Sameed proposes by letter to sell a house to Shahzeb. When the

Communication of the proposal in between Sameed and Shahzeb is
complete?
A. When Sameed make such proposal
B. When Shahzeb accepts the proposal
C. Both (A) and (B)
D. None of above

Answer - Click Here:

B. When Shahzeb accepts the proposal

Business law MCQs for B.COM

 BUSINESS LAW ONE MARK
QUESTIONS

Here, we are sharing very important “Business law MCQs for B.COM”.

(1) The contract of sale made by?

a) May be implied from the conduct of the parties
b) In writing
c) By word of mouth
d) All of the above
e) None of these

Answer - Click Here:

D
(2) The contract which is breach can be?
a) Anticipatory
b) Void
c) Actual
d) B and C
e) None of these

Answer - Click Here:

A
(3) The person who is representator of agent is…..
a) Principle
b) Middle man
c) Principal
d) Owner
e) None of these

Answer - Click Here:

C
(4) The act of agent on behalf of principal is?
a) Intention
b) Consideration
c) Rule
d) Policy
e) None of these

Answer - Click Here:

A
(5) The Ratification done by an agent is for…..
a) Not a part of contract
b) Part of the contract
c) Whole contract
 BUSINESS LAW ONE MARK
QUESTIONS

d) A and B
e) None of these

Answer - Click Here:C

(6) When agency is ratified it must communicated with…..

a) Principal
b) Third party
c) Agent
d) Owner
e) All of the above

Answer - Click Here:

B
(7) The goods which are contingent is part of……
a) Unascertained
b) Ascertained
c) Future
d) Existing
e) Previous

Answer - Click Here:

C
(8) In sale contract , the parties make statement which is known
as…..
a) Promises
b) Stipulations
c) Agreement
d) Contract
e) None of these

Answer - Click Here:

B
(9) The condition on title is an example of…..
a) Express condition
b) Express warranty
c) Implied warranty
d) Implied condition
e) None of these

Answer - Click Here:

D
 BUSINESS LAW ONE MARK
QUESTIONS

(10) The condition for quality or fitness is ?

a) Implied warranty
b) Implied condition
c) Express warranty
d) Express condition
e)All of the above

Answer - Click Here:

B
(11) The condition for Merchantable quality is?
a) Implied warranty
b) Express condition
c) Express warranty
d) Implied condition
e) None of these

Answer - Click Here:

D
(12) The warranty of quiet possession is?
a) Express warranty
b) Express condition
c) Implied condition
d) Implied warranty
e)All of the above

Answer - Click Here:

D

(1) According to the Sale of Goods Definition Section 2(7) the

word goods meanings are?
a) All type of properties
b) Property without actionable claims & money
c) All type of movable properties
d) All type of movable property, without actionable claims & money

Answer - Click Here:

D

(2) Consideration can be defined as…

a) Income
b) Benefit
 BUSINESS LAW ONE MARK
QUESTIONS

c) Profit
d) All of these

Answer - Click Here:

B
(3) Which of the following debentures is paid to a certificate
holder is ______?
(a) secured
(b) Bearer
(c) registered
(d) None of these

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B
(4) Law of relationship in business person & middleman is the ?
a) Agency
b) business
c) surety
d) legacy

Answer - Click Here:

A
(5) A private company can be established by how many persons?
a) Four
b) Three
c) Two
d) All of these

Answer - Click Here:

C
(6) In a public company, minimum numbers of Directors are
_______?
 BUSINESS LAW ONE MARK
QUESTIONS

a) 3
b) 8
c) 2
d) All of the above

Answer - Click Here:

A
(7) According to contract ______ person not usually get any
response…
a) Principle
b) Surety
c) Agent
d) None of these

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C
(8) The notice of general meeting to non-profitable companies
are given in?
a) 15 days
b) 22 days
c) 14 days
d) 33 days

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C
(9) G & H contract to marry each other. Now, suppose death of H
occurs, the contract is…
a) Voidable
b) Valid
c) None of these
d) Void

Answer - Click Here:

 BUSINESS LAW ONE MARK
QUESTIONS

D
(10) The act which is done on behalf of the principal is?
a) Intention
b) Rule
c) Consideration
d) All of the above

Answer - Click Here:A

(1) In “Promissory note” and a “bill of exchange” how many
parties involved?
a) Two parties to a “Promissory note three to a bill of exchange”
b) One party to a “Promissory note” two to a “bill of exchange”
c) Four parties to a “Promissory note” three to a “bill of exchange
d) Three parties to a “Promissory note” four to a “bill of exchange”
e) None of these

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C
(2) Type of law Public law_______?
a) Private
b) Local
c) Family
d) All of the above
e) none of these

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A
(3) The rights of minor in the firm is…..
a) Not Access to and inspect and copy any of the accounts of the firm
b) Access to and inspect and copy any of the accounts of the firm
c) Admitted to the benefits of partnership
d) None of these

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C
(4) How many classes Public law is divided?
a) Three
b) Two
c) Four
 BUSINESS LAW ONE MARK
QUESTIONS

d) Five
e) None of these

Answer - Click Here:

C
(5) Maximum number of persons in Public company……
a) 9 persons
b) 11 persons
c) 2 persons
d) 7 persons
e) All of the above

Answer - Click Here:D

(6) In Public law which law includes?

a) Administrative
b) Criminal
c) Constitution
d) None of these
e) All of these

Answer - Click Here:

E
(7) Maximum number of persons in Private company……
a) 9 persons
b) 10 persons
c) 2 persons
d) 7 persons
e) None of these

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C
(8) Criminal Law is basically ?
a) Private law
b) Public law
c) Local law
d) Family law
e) A and B

Answer - Click Here:

B
(9) A contract which is known as void ?
a) Valid agreement
 BUSINESS LAW ONE MARK
QUESTIONS

b) Partly valid agreement

c) Illegal agreement
d) A and c
d) None of these

Answer - Click Here:

D
(10) A private company cannot have more the ?
a) 50 members
b) 25 members
c) 12 members
d) 2 members
e) 30 members

Answer - Click Here:

A

(11) A agrees with B to sell “200 pairs of shoes” this agreement

is…..
a) Voidable
b) Valid
c) Void
d) Partially valid
e) None of these

Answer - Click Here:

C

(12) The agreement which caused by fraud, coercion and

misrepresentation is called…..
a) Void
b) Voidable
c) Partially void
d) Valid
e) None of these

Answer - Click Here:

B
(1) The contract of sale made by?
a) May be implied from the conduct of the parties
b) In writing
c) By word of mouth
 BUSINESS LAW ONE MARK
QUESTIONS

d) All of the above

e) None of these

Answer - Click Here:

D
(2) The contract which is breach can be?
a) Anticipatory
b) Void
c) Actual
d) B and C
e) None of these

Answer - Click Here:

A
(3) The person who is representator of agent is…..
a) Principle
b) Middle man
c) Principal
d) Owner
e) None of these

Answer - Click Here:

C
(4) The act of agent on behalf of principal is?
a) Intention
b) Consideration
c) Rule
d) Policy
e) None of these

Answer - Click Here:

A
(5) The Ratification done by an agent is for…..
a) Not a part of contract
b) Part of the contract
c) Whole contract
d) A and B
e) None of these

Answer - Click Here:

C
(6) When agency is ratified it must communicated with…..
a) Principal
 BUSINESS LAW ONE MARK
QUESTIONS

b) Third party
c) Agent
d) Owner
e) All of the above

Answer - Click Here:

B
(7) The goods which are contingent is part of……
a) Unascertained
b) Ascertained
c) Future
d) Existing
e) Previous

Answer - Click Here:

C
(8) In sale contract , the parties make statement which is known
as…..
a) Promises
b) Stipulations
c) Agreement
d) Contract
e) None of these

Answer - Click Here:

B
(9) The condition on title is an example of…..
a) Express condition
b) Express warranty
c) Implied warranty
d) Implied condition
e) None of these

Answer - Click Here:

D
(10) The condition for quality or fitness is ?
a) Implied warranty
b) Implied condition
c) Express warranty
d) Express condition
e)All of the above

Answer - Click Here:

 BUSINESS LAW ONE MARK
QUESTIONS

B
(11) The condition for Merchantable quality is?
a) Implied warranty
b) Express condition
c) Express warranty
d) Implied condition
e) None of these

Answer - Click Here:

D
(12) The warranty of quiet possession is?
a) Express warranty
b) Express condition
c) Implied condition
d) Implied warranty
e)All of the above

Answer - Click Here:

D

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