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Even if all the members of a company are citizens of India, the company does not become a citizen of India.

1. 2.

TRUE, False,

3. 4.
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A Promissory Note contains conditional undertaking to pay a certain sum of money.


1. 2.

TRUE, False,

3. 4.
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A Company, when registered with limited liability under the Companies Act 1956, shall be deemed to be a company
1. 2. 3. 4.

Limited by shares Limited by debentures Above all None of the above

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A legal representative being holder of Negotiable Instrument can sue


1. 2. 3. 4.

after the death of the holder before the death of the holder None of the above Above all

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Special agent and Particular agent mean one and the same thing.
1. 2.

TRUE, False,

3. 4.
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An agent can be held responsible for damages arising from his misconduct in the business of agency or ________.
1. 2. 3. 4.

partnership firm Promise Negligence Above all

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The essential point about an agent's position is his ________ of making his principal answerable to third parties.
1. 2. 3. 4.

authority capacity Company Receiver

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The very important stages in the connection of formation of a company are


1. 2. 3. 4.

Promotion Registration Floatation Above all

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In order to convert a proposal into a promise the acceptance must be


1. 2. 3. 4.

absolute and unqualified communicated any time both None of the above

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Under section 144, mode of service of summons are


1. 2. 3. 4.

by speed post by courier services by concerned police station Above all

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Spurious goods means goods which are ________.


1. 2. 3. 4.

Fake future existing Legal representative

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A sub-agent acts under the direct control of his principal.


1. 2.

TRUE, False,

3. 4.
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The term business includes every lawful trade, occupation and profession.

1. 2.

TRUE, False,

3. 4.
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Goods includes
1. 2. 3. 4.

trade marks good will both None of the above

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Company based on ownership is


1. 2. 3. 4.

Public company private company illegal None of the above

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The partners continue to be liable as such to ________ for any act done by them.
1. 2. 3. 4.

Third party Co-owner paid seller An executer

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A Company, when registered with limited liability under the Companies Act 1956, shall be deemed to be a company
1. 2. 3. 4.

Limited by shares Limited by debentures Above all None of the above

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In order to convert a proposal into a promise the acceptance must be


1. 2. 3. 4.

absolute and unqualified communicated any time both None of the above

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A body carrying out analysis or test of any goods with a view to determining whether such goods suffer from any defect is known as :-

1. 2. 3. 4.

Appropriate laboratory All India laboratory Vendor Registration

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An agency can be terminated after lapse of time or completion of the work.


1. 2.

TRUE, False,

3. 4.
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When the partners select to adopt certain firm name which is identical with the firm name already in existence, then such name is :1. 2. 3. 4.

Legal Illegal partnership firm Share

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A firm is a name given to the partners ________.


1. 2. 3. 4.

individually Negligence Collectively Legal representative

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A ________ is an artificial person and has a legal entity.


1. 2. 3. 4.

Receiver Company illegal by speed post

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In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the
1. 2. 3. 4.

Receiver Seller both None of the above

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In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the

1. 2. 3. 4.

Official Assignee Receiver both Above all

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In Mohri Bibi vs Dharmo Ghosh the ruling was laid down by


1. 2. 3. 4.

Privy Council Federal Court All India laboratory Personal service

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Consent means :1. 2. 3. 4.

Assent of another Assent to support a claim Consent of the offeror to the contract above all

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An insolvent person can accept or endorse a bill.


1. 2.

TRUE, False,

3. 4.
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In a ________ contract, the future event is collateral to the contract.


1. 2. 3. 4.

Contingent valid illegal Public company

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The provisions of sale of goods were previously included in the Indian Contract Act, 1872.
1. 2.

TRUE, False,

3. 4.
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A company is a legal personality and as such it can


1. 2.

Own its property in its own name Enjoy its property in its own name

3. 4.

Dispose of its property in its own name None of the above

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The very important stages in the connection of formation of a company are


1. 2. 3. 4.

Promotion Registration Floatation Above all

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Special agent and Particular agent mean one and the same thing.
1. 2.

TRUE, False,

3. 4.
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Which of the following are not a void agreement?


1. 2. 3. 4.

Agreement with consideration Agreement of marriage Agreements relating to legal proceedings registered firm only

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A Promissory Note contains conditional undertaking to pay a certain sum of money.


1. 2.

,TRUE ,FALSE

3. 4.
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General agents are the persons who enjoy a general authority to do everything in the course of their agency.
1. 2.

,TRUE ,FALSE

3. 4.
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Following persons can perform the contracts :1. 2. 3. 4.

Promissor Agent Legal representative Above all

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Spurious goods means goods which are ________.


1. 2. 3. 4.

Fake future existing Legal representative

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Negotiable instrument recognised by law are


1. 2. 3. 4.

Bill of exchange Cheque Promissory Note Above all

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A ________ is an artificial person and has a legal entity.


1. 2. 3. 4.

Receiver Company illegal by speed post

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Company is treated as a legal person distinct from its members.


1. 2.

TRUE, False,

3. 4.
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For creating ________ relationship the parties to the contract must have a will to seek for the help of law court in the case of breach of a contract.
1. 2. 3. 4.

Major in age Privy Council illegal Legal

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The intention of the Negotiable Instrument Act is to govern :1. 2. 3. 4.

Legal relationship iilegal relationship Consumer Vendor

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Negotiable instrument recognised by law are


1. 2. 3. 4.

Bill of exchange Cheque Promissory Note Above all

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An order of the court asking a person to do or to abstain from doing a particular act, which is the subject matter of the contract, is known as ________.
1. 2. 3. 4.

Legal representative Quasification Negligence Injunction

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Following are the agencies of a three tier system of consumer disputes redressal agencies :1. 2. 3. 4.

National commission District Forum State commission Above all

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In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the
1. 2. 3. 4.

Receiver Seller both None of the above

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Goods means
1. 2. 3. 4.

growing crops stocks shares Above all

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The unpaid seller has a


1. 2. 3. 4.

right against the buyer liability against buyer rejected accepted

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Registration of firm is a condition precedent for filing the suit for seeking the remedy which arises out of contractual obligations.
1. 2.

TRUE, False,

3. 4.
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Ratification is one of the ways of ________ agency.


1. 2. 3. 4.

Checking Unpaid seller Creating Third party

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An unregistered firm can bring an action in any court of Law against


1. 2. 3. 4.

partner who steals the property of the partnership firm partner who purposely damages the property of the partnership firm both None of the above

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According to the Consumer Protection Act, 1986, a person includes :1. 2. 3. 4.

Hindu undivided family registered firm only board of directors Existing goods

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Company is treated as a legal person distinct from its members.


1. 2.

,TRUE ,FALSE

3. 4.
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If any ________ is present while forming the agency then the relationship of agency becomes contractual.
1. 2. 3. 4.

Consideration Negligence consent above all

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Notice of the situations of the registered office of the company is required to be given to the registrar of the companies within :1. 2. 3. 4.

Nine days Twenty days forty days Thirty days

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The term business includes every lawful trade, occupation and profession.
1. 2.

,TRUE ,FALSE

3. 4.
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In the Right of lien, the possession is retained by :1. 2. 3. 4.

registrar Unpaid seller paid seller None of the above

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An offer must create ________ relationship.


1. 2. 3. 4.

Void Illegal Legal Share

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Goods includes
1. 2. 3. 4.

trade marks good will both None of the above

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For creating ________ relationship the parties to the contract must have a will to seek for the help of law court in the case of breach of a contract.
1. 2. 3. 4.

Major in age Privy Council illegal Legal

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A firm is a name given to the partners ________.


1. 2. 3. 4.

individually Negligence Collectively Legal representative

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General offers open for the world at large can be accepted by any person :1. 2. 3. 4.

Who complies with the conditions of the offer Major in age Who reads the advertisement Promissor

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A lady brought a photocopier for the whole and sole purpose of earning her livelihood and she never intended to use the same for large scale trading activity or commercial purpose. She is a :1. 2. 3. 4.

Consumer Vendor Hindu undivided family board of directors

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Goods may be classified as :1. 2. 3. 4.

Existing goods Future goods , Contingent goods Above all

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Future consideration is also known as ________ consideration.


1. 2. 3. 4.

Foresee An executer Executory Collectively

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The relation between a doctor and his patient is not fiduciary in nature.
1. 2.

TRUE, False,

3. 4.

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Misrepresentation contains following ingredients :1. 2. 3. 4.

Positive assertion , Breach of duty without intention to deceive , Causing another party to make a mistake as to the substance of the thing Breach of duty without intention to deceive , Causing another party to make a mistake as to the substance of the thing

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The subscriber of the memorandum of a company on its registration shall be entered in the register of members as member.
1. 2.

,TRUE ,FALSE

3. 4.
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In contract of sale the buyer becomes :1. 2. 3. 4.

Absolute owner of the property Bills of exchange Part owner of the property Carrier

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An unregistered firm can bring an action in any court of Law against


1. 2. 3. 4.

partner who steals the property of the partnership firm partner who purposely damages the property of the partnership firm both None of the above

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In the Right of lien, the possession is retained by :1. 2. 3. 4.

registrar Unpaid seller paid seller None of the above

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ideration or object of an agreement is lawful unless it is


1. 2. 3. 4.

forbidden by law prohibited by law None of the above Above all

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The law relating to sale of immovable goods is contained in the Sale of Goods Act, 1930.
1. 2.

TRUE, False,

3. 4.
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In case of private limited company, minimum number of members is two while the maximum is :1. 2. 3. 4.

,20 ,40 ,80 ,50

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