Question - 1/55

Caveat emptor:
Answer Choices
is seller who discloses defects in the goods being sold
insolvent seller
is the buyer who is supposed to be aware of the suitability of the goods
is a person who institutes pre-emption sui

Question - 2/55
A agreed to supply food for party to B at 1: 00 pm. However, he could hardly supply the food at
3. 00 pm.
Answer Choices
B can not reject the delivery;
B can pay 50 percent
B can reject the delivery;
none of these

Question - 3/55
As per section 185 of the Contract Act, 1872 consideration is
Answer Choices
Necessary to create agency
Not necessary to create agency
Depends upon type of agency
none of these

Question - 4/55
A continuing guarantee may at any time be revoked by the surety as to future transaction by
giving notice to
Answer Choices
principal debtor
creditor
Without giving any notice to any person

none of these

Question - 5/55
When one person signifies to another his willingness to do or to abstain from doing any thing
with a view to obtaining the assent of that other person to such act or abstinence he is said to
make a
Answer Choices
promise
proposal
both 1 & 2
none of these

Question - 6/55
The liability of members if company is limited by shares
Answer Choices
Unpaid value of shares
Guarantee amount
Unlimited liability
all of these

Question - 7/55
A subsidiary company is the one:
Answer Choices
which holds the majority shares of another company
which deals in the trading of shares of other companies
in which the majority shares are held by another company
none of these

Question - 8/55
A liquidator is a person
Answer Choices
who is a director
promoter

who winds up company

none of these

Question - 9/55
"Reciprocal" Contracts means
Answer Choices
One sided contracts
Trilateral contracts
Bilateral contracts
none of these

Question - 10/55
manish is forming a business which he wants to control completely. He knows nobody else with
whom he wishes to work, he values his privacy, and he dislikes formality, paper work, state filing
requirements, and lawyers. What type of business organization should he prefer
Answer Choices
sole proprietorshiop
LLP
opc
none of these

Question - 11/55
If any of the companies does not increase their paid up capital by 1/5 lakhs as per new norms
with in 2 years such companies are known as ____________
Answer Choices
govt company
private
public
defunct

Question - 12/55
) When an offer can only be accepted by the performance of the person to whom the offer is
made, is characteristic of
Answer Choices

bilateral contracts;
unilateral contracts;
implied contracts
none of these

Question - 13/55
A director appointed by the Board to hold the office until the conclusion of next annual general
meeting is known as
Answer Choices
additional director
alternate director
nominee director
part-time director

Question - 14/55
Undue influence make a contract
Answer Choices
void
voidable
valid
none of these

Question - 15/55
Generally rights and obligations of the company are regulated in
Answer Choices
articles
memorandum
certificate of incorporation
none of these

Question - 16/55
The suggestion as a fact of that which is not true by one who does not believe it to be true and
the active concealment of a fact by one having knowledge or believe of the fact is called

Answer Choices
fraud
cheating
misrepresentation
none of these

Question - 17/55
A in consideration that B will employ C in collecting the rent of B''s zamindari, promises B to be
responsible, to the amount of 5000 rupees for the due collection and payment by C of those rents.
This is a
Answer Choices
Restricted guarantee
Continuing guarantee
Limited guarantee
none of these

Question - 18/55
A contract to do or not to do something if some event collateral to such contract does or does not
happen is called
Answer Choices
quasi contarct
contingent contract
complex contarct
none of these

Question - 19/55
E-commerce is the commercial transaction of services in a/an _______ format
Answer Choices
paperless
electronic
paper
mechanical

Question - 20/55
which one of these is a cyber crime

Answer Choices
stalking
hacking
virus attack
all of these

Question - 21/55
XYZ private company had reduced to a single member and continued business more than 6
months. The company's liability will be
Answer Choices
limited
unlimited
as per memorandum
none of these

Question - 22/55
With in how many days prospectus or statement in lieu of prospectus should file with ROC
Answer Choices
30
15
45
21

Question - 23/55
In pledge bailor is called
Answer Choices
pawner
pawnee
bailor
none of these

Question - 24/55
Promise which forms the consideration or part of the consideration for each other is

called______promise
Answer Choices
simple
conditional
reciprocal
none of these

Question - 25/55
Central Government permission is required in case of _______ conversion __________
Answer Choices
Private to public
Public to private
Both (a) or (b)
none of these

Question - 26/55
A proposal may be revoked at any time
Answer Choices
Before the communication of its acceptance
Before the rejection of its communication
both 1 & 2
none of these

Question - 27/55
A person employed to do any act for another or to represent another in dealings with third person
is called
Answer Choices
servent
labor
agent
none of these

Question - 28/55
A hires a carriage of B. The carriage is unsafe though B is not aware of it and A is injured
Answer Choices
B is not responsible to A for the injury
No one is responsible to each othe
B is responsible to A for the injury
none of these

Question - 29/55
The person acting employed by under the control of the original gent in the business of the
agency is called
Answer Choices
sub-agent
Associate agent
Assistant agent
mini-agent

uestion - 30/55
The term "Fraud" means.
Answer Choices
Doing any act fitted to deceive
Active concealment of fact with knowledge and belief of the fact
both 1 & 2
none of these

Question - 31/55
Age limit of Directors in case of public company is ______ years
Answer Choices
65
70
60
56

Question - 32/55
The Sale of Sub standard and hazardous goods under defined conditions constitute_____trade
practice
Answer Choices
restrictive
unfair
monopolistic
none of these

Question - 33/55
Carlill v Carbolic Smoke Ball Co. Ltd. deals with:
Answer Choices
Counter proposal
Implied acceptance
Implied revocation
none of these

Question - 34/55
An agreement which is enforceable by law at the option of one or more of the parties there to but
not at the option of other or others is
Answer Choices
valid
voidable
void
all of these

Question - 35/55
Company?s owners are shareholders. So the company property belongs to_______ only
Answer Choices
shareholders
company
promoters

all of these

Question - 36/55
Which of the following is not an effective way to terminatean offer?
Answer Choices
rejection
counter offer
By acceptance;
none of these

Question - 37/55
If minimum subscription is not received application money should be refunded with in____days
Answer Choices
10
21
30
15

Question - 38/55
A principal is responsible for all the acts of his agent which is called
Answer Choices
Original liability of The Principal
Vicarious liability
both 1 & 2
none of these

Question - 39/55
Mistake of fact
Answer Choices
Makes a contract voidable
Does not make a contract voidable
Makes a contract void
none of these

Question - 40/55
Any guarantee obtained by means of misrepresentation made by the creditor or with his
knowledge and assent concerning a material part of the transaction is
Answer Choices
valid
voidable
invalid
none of these

Question - 41/55
The consideration or object of an agreement is lawful unless it is
Answer Choices
forbidden by law
forbidden by custom
Forbidden by contractors themselves
none of these

Question - 42/55
The Term "Consent" means
Answer Choices
free mind
Voluntary accordance with or concurrence in what is done or proposed by another
free will
all of these

Question - 42/55
The Term "Consent" means
Answer Choices
free mind
Voluntary accordance with or concurrence in what is done or proposed by another
free will
all of these

Question - 44/55
An agreement enforceable by law is called
Answer Choices
agreement
contract
both 1 & 2
all of these

Question - 45/55
A intending to deceive B, falsely represents that five hundred munds of indigo are made annually
at A''s factory and their by induces B to buy the factory
Answer Choices
The contract is voidable on both A and B part
The contract is voidable on the part of A
The contract is voidable on the part of B
none of these

Question - 46/55
The liability of members if company is limited by guarantee
Answer Choices
Unpaid value of shares
Unlimited liability
Guarantee amount
none of these

Question - 47/55
district forum under CPA 1986 has a pecuniary limt of _____ lakh
Answer Choices
5
10
15
20

Question - 48/55
An agreement not enforceable by law is called
Answer Choices
void
voidable
valid
none of these

Question - 49/55
The best, simple definition of a contract is:
Answer Choices
An objective ?meeting of minds.?
A negotiated two-party agreement upon which each party will act or refrain from acting
A document reflecting a ?meeting of the minds? between two or more competent parties.
none of these

Question - 50/55
Which of the following writings are negotiable instrument?
Answer Choices
A promise to pay Rs. 2000 for the services rendered if the services are renders as soon as
possible
An unconditional promise to pay a reasonable sum for the services rendered.
An unconditional promise to pay Rs. 3000 some time next month.
none of these

Question - 51/55
Minimum no. of Directors in case of private company is _______
Answer Choices
2
3
4
1

Question - 52/55
Right to Information Act came into existence in????????.
Answer Choices
2004
2008
2010
none of these

Question - 53/55
Which Act was replaced with the introduction of Competition Act 2002?
Answer Choices
FERA
MRTP
POTA
none of these

Question - 54/55
A bearer instrument may be negotiated by:
Answer Choices
mere delivery
Endorsement and delivery
Delivery with a separate written contract
none of these

Question - 55/55
"Indemnity" means
Answer Choices
Security from damage or loss
Security for more profit
act of protection
both 1&3
Question Reference

Sushma decided to purchase a piece of land from Mr. Singh for 20 lakh on 18 September 14. An
advance of RS. 5 lakh was paid to Mr. Singh on 26th September 14 and deal was to be completed
by 25th November 14. On 25th November Mr. Singh did not came to court for registry and
returned the advance money received by him.
Question - 1/5
Sushma can apply for
Answer Choices
Damages
specific performance
Injunction
all of these
Question Reference
Sushma decided to purchase a piece of land from Mr. Singh for 20 lakh on 18 September 14. An
advance of RS. 5 lakh was paid to Mr. Singh on 26th September 14 and deal was to be completed
by 25th November 14. On 25th November Mr. Singh did not came to court for registry and
returned the advance money received by him.
Question - 2/5
Suppose mr Singh died, than the contract will become
Answer Choices
void
voidable
invalid
illegal
Question Reference
Sushma decided to purchase a piece of land from Mr. Singh for 20 lakh on 18 September 14. An
advance of RS. 5 lakh was paid to Mr. Singh on 26th September 14 and deal was to be completed
by 25th November 14. On 25th November Mr. Singh did not came to court for registry and
returned the advance money received by him.
Question - 3/5
Specific performance may be ordered by the court when ______________
Answer Choices
The contract is voidable

The damages are an adequate remedy

The damages are not an adequate remedy
The contract is uncertain

Question Reference
Sushma decided to purchase a piece of land from Mr. Singh for 20 lakh on 18 September 14. An
advance of RS. 5 lakh was paid to Mr. Singh on 26th September 14 and deal was to be completed
by 25th November 14. On 25th November Mr. Singh did not came to court for registry and
returned the advance money received by him.
Question - 4/5
Mr singh acts can be termed as_______
Answer Choices
Revocation of offer
Breach of contract
termination of contract
Anticipatory Breach
Question Reference
Mala a minor lends rs 5000/ to Suranjan. Suranjan issues a promissory notes in favor of mala. On
due date mala demanded money. But Suranajan refused to pay claiming that mala was a minor
when he gave debts. She was also minor when he issued promissory not to her. Mala is feeling
helpless. Kindly analyse position of this contract as well as the promissory note through following
questions
Question - 5/5
Age for attaining majority for entering in to a contract is
Answer Choices
21
18
24
none of these