BUSINESS LAW - 1 (MCQS) (PART-2) - Study For Buddies

Tuesday, November 24, 2020

BUSINESS LAW - 1 (MCQS) (PART-2)


T.Y B.COM
SEMESTER - 5
    
 BUSINESS LAW-1
MID SEMESTER EXAMINATION 
MCQS

(16) The collateral transactions to the wagering agreements made in the state of Madhya Pradesh are -

(A) Void
(B) Voidable
(C) Valid
(D) Illegal

(17) A aged 12 years, by misrepresenting his age, borrows some money form Mr.B- 

(A) A can be sued for the fraud
(B) A can be sued for the Misrepresentation
(C) His parents/guardian are/is liable for reimbursement
(D) A is liable to return the money, if it is in specie

(18) An agreement not enforceable by law is said to be______.

(A) Void contract
(B) Valid contract
(C) Void agreement
(D) Voidable contract

(19) An agreement whereby one party is to assist another to bring an action for recovering money or property, and is to share in the proceeds of action is known- 

(A) Stifling prosecution
(B) Partnership
(C) Maintenance
(D) Champerty

(20) A agrees to sale his car to B for a consideration of Rs. 2,50,000. B promised to pay Rs.501 to A if the car purchased proved lucky for him. The agreement is - 

(A) Void agreement
(B) Wagering agreement
(C) Illegal agreement
(D) Contingent contract

(21) Where the debtor does not intimate to the creditor and the circumstances attending the payment are not indicative regarding appropriation of payment of debts, the creditor may - 

(A) Apply it at his discretion to any lawful debt actually due
(B) Apply it to any unlawful debt due
(C) Apply it to any disputed debt 
(D) Appropriate the payment proportionately

(22) Where an agreement consists of two parts one part beign legal and the other part being Illegal, and the legal part is separable from the illegal one, such legal part results in - 

(A) Valid contract
(B) Void agreement
(C) Unenforceable contract
(D) Voidable contract

(23) A agrees to supply certain goods to B for Rs. 25000. Due to strike in the factory of A, the goods can not be produced and he is unable to supply the same as per the contract. The contract-

(A) Is not discharged
(B)Is discharged due to supervening impossibility
(C) Becomes Voidable at the option of A
(D) Becomi Voidable at the option of B

(24) In case of a wrongful dishonour of a cheque by banker having sufficient funds to the credit of the customer, the court may award - 

(A) Exemplary damages
(B) Nominal damages
(C) Ordinary damages
(D) Special damages

(25) Which of the following statement is incorrect in relative to consideration ? 

(A) Consideration may move form the promisee or any other person
(B) Consideration may be past, present or future
(C) Consideration must be adequate
(D) Consideration must move at the desire of the promisor

(26) A agrees to buy certain horse form B. The horse was dead at the time of bargain but neither party was aware of the fact. The agreement is -

(A) Unilateral contract
(B) Void contract
(C) Voidable contract
(D) Void agreement

(27) A promised to paint B's house for Rs. 1,500. B Agrees to supply necessary painting materials to him for painting the house. The promise of A is-

(A) Mutual and concurrent
(B) Conditional and independent
(C) Mutual and conditional
(D) Conditional and dependant

(28) A person who is usually of unsound mind, but occasionally of sound mind -

(A) May enter into a contract with the permission of court
(B) May enter into contract when he is unsound mind
(C) may not enter into a contract when he is of sound mind
(D) May enter in to a contract when he is of sounds mind

(29) In case of anticipatory breach of contract, the aggrieved party may treat the contract -

(A) As rescinded and brings an immediate action for damages
(B) As alive and wait till the time for performance arrives
(C) Both A & B
(D) Only A

(30) When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is -

(A) Coercion
(B) Undue influence
(C) Fraud
(D) Misrepresentation


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