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LIST OF ATTEMPTED QUESTIONS AND ANSWERS Multiple Choice Single Answer Question The salary and other allowances of the members of the National Commission shall be defrayed out of the :Correct Answer Consolidated fund of India Your Answer Consolidated fund of India

Multiple Choice Multiple Answer Question There can not be any partnership where a business is carried on :Correct Answer With a benevolent purpose , Where any one of the patterns is entitled to total profit earned. Your Answer With a benevolent purpose

Multiple Choice Multiple Answer According to the Consumer Protection Act, 1986, a service includes :Question Correct Answer Financial service , Entertainment Your Answer Financial service , Entertainment , Personal service

Multiple Choice Single Answer Question The meaning of the term Caveat Emptor is :Correct Answer Let the buyer beware Your Answer Let the buyer beware

True/False Question

The legal heir or representative of a dead consumer is given the right to become the complainant. Correct Answer True Your Answer True

True/False Question

The principal can ratify unauthorised act of an agent.

Correct Answer False Your Answer True

Select The Blank Question Notice of dishonour of cheque must be ________. Correct Answer Within a reasonable time Your Answer Within a reasonable time

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Question - Answer List

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Multiple Choice Single Answer Question In a sale, if the buyer becomes insolvent before he pays the price of the goods purchased, the person who can claim the delivery of the goods as the property in goods has been already transferred as a result of a sale is :Correct Answer Receiver Your Answer Seller

Select The Blank Question Every promise and every set of promises, forming the consideration for each other, is ________. Correct Answer An agreement Your Answer An agreement

Select The Blank According to Prof. Hanney, "Partnership is the relation existing between Question persons competent to make contracts who agree to carry on a ________" Correct Answer Lawful business is common with a view to private gain Your Answer Lawful business is common with a view to private gain

Multiple Choice Multiple Answer Question In special agency :Correct Answer Agency lasts for a specific period , Agency lasts for a particular type of job or work , Agents has limited authority Your Answer Agency lasts for a specific period , Agency lasts for a particular type of job or work , Agents has limited authority 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 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 Multiple Choice Multiple Answer A Company shall, on being so required by a member, send to him a copy of Question following documents :Correct Answer The Memorandum , The articles , Every other agreement Your Answer The Memorandum , The articles , Share of profits

Select The Blank Question In a ________ contract, the future event is collateral to the contract. Correct Answer Contingent

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Question - Answer List

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Your Answer

Contingent

True/False Question

Publication of prospectus is not at all necessary for the companies for raising the capital from public. Correct Answer False Your Answer False

Match The Following Question Confirmation by the Regional Director

Correct Answer

Your Answer

Change of place of registered Change of place of registered office within a state office within a state Table B, C, D and E in schedule 1 Alteration of Memorandum

The memorandum of Table B, C, D and E in association of a company shall schedule 1 be in forms Change of the place of company's registration office from one state to another Auditors Report Alteration of Memorandum

Accounts of the company

Accounts of the company

True/False Question

Express or implied authority is conferred on the agent by the principal.

Correct Answer True Your Answer True

True/False Question

In a contract of sale goods can be exchanged for goods.

Correct Answer False Your Answer True

Multiple Choice Multiple Answer Question There was a contract for sale of goods. Delivery was to be given in October. Owing to a strike in the port of loading, the goods were not shipped until November. The buyers are entitled to :Correct Answer Repudiate the contract , Rescind the contract Your Answer Modify the contract , Rescind the contract , Rectify the contract

Multiple Choice Single Answer Question Non-registration of a partnership firm does not make the partnership agreement :Correct Answer Void

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Question - Answer List

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Your Answer

Void

Multiple Choice Multiple Answer Question Following are the elements which constitute a partnership Correct Answer there must be a contract regarding a partnership , there must be an association of two or more persons Your Answer there must be a contract regarding a partnership , there must be an association of two or more persons , such a business of a partnership must be carried on by third person True/False Question

In a promissory note, the promise to pay can be indefinite.

Correct Answer False Your Answer False

Multiple Choice Single Answer Question A partner of a trading or non trading firm signs a Negotiable Instrument, liability incurs in :Correct Answer The name of the firm Your Answer The name of the firm

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 Fraud means and includes following act :Correct Answer Promise to deceive other party , Promise without intending to perform Your Answer Promise to deceive other party , Concealing a fact believing to be untrue , Promise without intending to perform

Select The Blank Question The act done by the agent with the permission and on behalf of the principal is ________ on the principal. Correct Answer Binding Your Answer Binding

Multiple Choice Multiple Answer Question Bill of exchange must be :Correct Answer In writing , Unconditional , Stamped

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Question - Answer List

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Your Answer

In writing , Unconditional , Stamped

Multiple Choice Single Answer Question In an auction sale, if someone gives highest bid and the auctioneer accepts his offer by striking the hammer it is :Correct Answer An implied acceptance Your Answer An implied acceptance

True/False Question

A contract entered into by threatening to detain a corpse is a valid contract.

Correct Answer False Your Answer False

Match The Following Question

Correct Answer

Your Answer Del Credere Agents

An agent occupying the Del Credere Agents position of a guarantor as well as that of an agent An agent facilitating the distribution of goods are international level Indenting Agents

Indenting Agents

An agent helping the importers Clearing goods of goods An agent helping the exporters Forwarding Agents of goods True/False Question

Clearing goods Forwarding Agents

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 Single Answer Question If consent to the contract was not caused by fraud or misrepresentation, the contract is :Correct Answer Voidable at the option of the party on whom fraud and misrepresentation was practiced Your Answer Valid at the option of the party for the contract

True/False Question

Companies can be registered with undesirable names.

Correct Answer False Your Answer False

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Question - Answer List

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Multiple Choice Single Answer Question Two or more persons said to consent when :Correct Answer Forming a natural judgment as to its effect upon his interest Your Answer They agree on same topic

Multiple Choice Single Answer Question Ratification of minor's agreement by him on attaining majority :Correct Answer Cannot be possible Your Answer Cannot be possible

Multiple Choice Multiple Answer Question Limited companies can be formed for promoting :Correct Answer Commerce , Art , Religion Your Answer Commerce , Art , Associations

Select The Blank Question Notice of dissolution of firm must be ________. Correct Answer Explicit Your Answer Explicit

Select The Blank All illegal agreements are ________ but all Void agreements are not illegal. Question Correct Answer Void Your Answer Void

Multiple Choice Multiple Answer Question Coercion means and includes :Correct Answer Any act forbidden by the Indian Penal Code , Any threatening to commit illegal act Your Answer Any act forbidden by the Indian Contract Act , Any act forbidden by the Indian Penal Code , Any threatening to commit illegal act Multiple Choice Multiple Answer Question The memorandum of every company shall state :Correct Answer The name of the company , The registered office , The main objects Your Answer The name of the company , The registered office , The main objects

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Question - Answer List

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Select The Blank Question The presumptions laid by Sec.118 & 119 of Negotiable Instrument Act do not arise where negotiable instrument is obtained by ________. Correct Answer Fraud/Deceit Your Answer Fraud/Deceit

Multiple Choice Multiple Answer Question The memorandum of a company shall be :Correct Answer Printed , Divided into paragraphs numbered consecutively , Signed by each subscriber Your Answer Printed , Divided into paragraphs numbered consecutively , Signed by each subscriber Multiple Choice Single Answer Question Meeting of the Central Council shall be presided over by the :Correct Answer Chairman Your Answer Chairman

True/False Question

"I promise to pay Mr. Luies or Order Rs.1,500/-" is a promissory note.

Correct Answer True Your Answer True

Multiple Choice Single Answer Question The distinction between fraud and misrepresentation is that :Correct Answer Fraud is an intentional wrong while misrepresentation may be innocent Your Answer Fraud is an intentional wrong while misrepresentation may be innocent

Multiple Choice Single Answer Question The object of carrying on a business must be :Correct Answer Sharing of profits Your Answer Surety of profits

Select The Blank A ________ partner is like an undisclosed principal. Question Correct Answer Sleeping Your Answer Sleeping

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