Business Law
1. Annual – general Meeting is required to be held---
a. By a private company only
b. By a public company only
c. By a company limited by guarantee only
d. By all kinds of companies
2. An acceptance is complete and effective only when it has been---
a. Communicated to the offerer
b. Merely mentally accepted
c. Externally manifested
d. Kept in the drawer
3. Name of a company can be changed by passing a special resolution and with the approval of
a. The company law tribunal
b. The Central Government
c. The Registrar of Companies
d. None of these
4. Which of the following is a mode of discharge of contract---
a. By impossibility of performance
b. By lapse of time
c. By breach of contract
d. All of above
5. Limited liability means liability of its---
a. Debtors is limited
b. Creditor is limited
c. Members is limited
d. Debenture holder is limited
6. In a contract of sale, property means
a. Raw-materials
b. Moveable goods
c. Ownership
d. Immovable property
7. The goods which are yet to be acquired by the seller, are called
a. Existing goods
b. Contingent goods
c. unascertained goods
d. future goods
8. A contract becomes voidable if it has been caused by---
a. Coercion
b. Fraud
c. Undue influence
d. All of them
9. If the goods have perished, the contract of sale of such specific goods, will become---
a. Voidable
b. Void
c. Illegal
d. None of these
10. Articles can be altered by
a. Ordinary resolution
b. Special resolution
c. Resolution requiring special notice
d. Unanimous resolution
11. A contract entered into between the parties by words is called---
a. An express contract
b. An implied contract
c. A quasi contract
d. An excited contract
12. Acceptance of an offer is complete as against the offeror as soon as
a. The offerer knows about it
b. The letter of acceptance is posted
c. The letter of acceptance is signed by offeree
d. The letter is handed over to a delivery person
13. If a company fails to pay its debts suit can be filed against the---
a. Directors
b. Members
c. Officers
d. Company
14. A contract with a minor is
a. Illegal
b. Valid
c. Void
d. Voidable
15. Who is liable for the supply of necessaries to a minor---
a. His guardian
b. His manager
c. His property
d. He himself
16. A prospectus is issued---
a. By a private limited company
b. By a public limited company
c. By a company limited by guarantee
d. None of these
17. When, before the contract becomes due for performance, the promisor declares his intention of not performing his promise, it is called---
a. Remission
b. Waiver
c. Alteration
d. Anticipatory breach
18. A bailment cannot be made about---
a. Car
b. Furniture
c. Money
d. Television
19. The damages which arise in the usual course of things happening from the breach of contract, are called---
a. Remote damages
b. Ordinary damages
c. Special damages
d. Nominal damages
20. When a person is employed to represent another in dealings with third person, it is a contract of---
a. Bailment
b. Guarantee
c. Agency
d. Pledge
21. Which of the following is not an essential element of a contract of sale---
a. Goods as a subject matter
b. Transfer of property in goods
c. Price
d. Railway recipt
22. In return for a new television, Raju agrees to give his old television valued at Rs. 3,000 and an amount of cash worth Rs. 5,000 to Ganesh. This is a---
a. Barter
b. Exchange
c. Contract of sale of goods
d. Sale of approval
23. Which of the following rights is held by an unpaid seller---
a. Right of lien
b. Right of stoppage in
c. Right of resale
d. All of these
24. After exercising the right of lien, the seller can resell the goods of perishable nature---
a. After giving 7 days notice of resale to buyer
b. After giving 1 days notice of resale to buyer
c. Without giving any notice
d. None of these
25. Which of the following is not a remedy for breach of contract---
a. Rescission of the contract
b. Restitution of benefit
c. Suit for damages
d. Alteration of the contract
26. A contract by which one party promises to save the other from loss is called---
a. Contract of guarantee
b. Contract of indemnity
c. A quasi contract
27. Surety’s liability is
a. Primary
b. Secondary
c. Absolute
d. None of these
28. Crossed cheques payable to bearer are negotiated by
a. Endorsement and delivery
b. Delivery
c. Assignment
d. None of these
29. In a contract of sale, which of the following is treated as implied condition
a. That the seller has title to goods
b. That goods are similar to description
c. That goods are according to sample shown
d. All of these
30. Consideration must move at the desire of---
a. The promisor
b. The promise
c. A third party
d. None of them
31. Which of the following does not relate to ‘termination of agency by operation of law’
a. Death of principal
b. Insolvency of principal
c. Destruction of subject-matter
d. Revocation of authority by the principal
32. Which of the following sentence is a valid promissory note---
a. I promise to pay Mohan or order Rs. 1,000.
b. I promise to pay HariRs. 2,000 worth of shares
c. I promise to pay Naraynan in East India Bonds
d. I promise to pay Rakesh Rs. 5,000 and to deliver 50 kg of sugar.
33. A stipulation collateral to the main purpose of the contract, is called a---
a. Condition
b. Warrenty
c. Guarantee
d. None of these
34. A person who receives a negotiable instrument for consideration, before maturity, and in good faith, is called
a. Holder for value
b. Holder
c. Holder in due course
d. None of these
35. A director must vacate his office if he fails to obtain qualification shares within
a. 1 week
b. 2 week
c. 1 month
d. 2 month
36. Which of the following rights are available to a finder of goods---
a. Right of lien
b. Right to file a suit for reward
c. Right of sale of goods
d. All of these
37. A private company has at least---
a. 7 members
b. 3 members
c. 3 director
d. 2 member
38. A cheque payable to order may be negotiated---
a. Restrictive endorsement
b. Conditional endorsement
c. Special endorsement
d. Partial endorsement
39 Which of the following endorsements is invalid---
Options
a. Restrictive endorsement
b. Conditional endorsement
c. Special endorsement
d. Partial endorsement
40. When a cheque bears across its face an addition of the words “&” between two parallel transverse lines, it is called---
a. Special crossing
b. Restrictive crossing
c. general crossing
d. double crossing
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University: AMITY Year: 2015