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

Monday, November 23, 2020

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

TY B.COM
SEMESTER - 5
    

BUSINESS LAW - 1
MID SEMESTER EXAMINATION
MCQS - 2019

(1) A owes Rs.1,500 to B. The debt is barred by the law of limitation. A has signed a promissory note for Rs.500 towards the debt. The promise is - 

(A) Voidable
(B) Not enforceable by law
(C) Void
(D) Enforceable by law

(2) X lends Rs. 2,200 to Y. X later communication Y not to repay the amount lent, the contract is discharged by - 

(A) Performance
(B) Waiver
(C) Novation
(D) Merger

(3) A makes promise of charitable subscription of Rs. 5,000 to B. B on the strength of the promise makes commitment, such a promise results in - 

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

(4) Which of following results in a valid offer - 

(A) An announcement for beauty competition
(B) A declaration of intention
(C) Display of goods in shop with price tag
(D) An advertisement offering reward to anyone who finds lost thing

(5) An agent enters into an agreement whereby he promised to do something which is against his professional duty. The agreement is - 

(A) Valid contract
(B) Voidable contract
(C) Illegal agreement
(D) Void being opposed to public policy

(6) In which of the following case court may order specific performance of contract ?

(A) When damages are not an adequate remedy
(B) When damages are an adequate remedy
(C) When the terms of contract are uncertain
(D) When the contract is Voidable

(7) Loss of letter of acceptance in postal transit which was insufficiently stamped and correctly addressed, amounts to _______.

(A) Illegal agreement
(B) Valid acceptance
(C) Voidable contract
(D) No acceptance

(8) The contractual capacity of a company is regulated by - 

(A) The provisions of the companies Act,
(B) It's memorandum of association
(C) Only A
(D) Both A & B

(9) An advertisement in newspaper to sell a thing by auction - 

(A) Puts compulsion to hold auction
(B) Creates contractual obligation
(C) Does not amount to an offer
(D) Amounts to an offer

(10) Mr. Kedar on account of natural love and affection makes written promise to pay Rs. 1,000 per month as pocket money to his son Bimal. They registered the document regarding the same. The promise results into - 

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

(11) An agreement in restraint of trade is valid under section 27 of the Indian contract Act, 1872, if it relates to - 

(A) Sale of goodwill
(B) Partnership agreement
(C) Both A & B
(D) Only A

(12) A contract which is enforceable by law at the option of one party thereto, but not at the option of the other/s is _______contract.

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

(13) A promises to drop a prosecution which he has instituted against B for robbery, and B promises to restore the stolen property. The agreement is - 

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

(14) A makes an offer to B on 2nd September, 2019 by a Letter which reaches B on 6th September, 2019. B posts letter of acceptance on 8th September, 2019 which reaches A on 12th September, 2019. B can revoke the communication of acceptance on or before - 

(A) 6th September, 2019
(B) 8th September, 2019
(C) 12th September, 2019
(D) 15th September, 2019

15) Match the following

 

 

A-Mohiri Bibi v/s Dharmodas Ghose

(i) Statement of price is not an offer

B-Currie v/s Misa

(ii) An agreement with or by minor is void ab initio

C-Harvey v/s Facey

(iii)Definition consideration

D-Hadley v/s baxendale

(iv) Misrepresentation

 

(v) Measure of damages


(A) a-ii, b-iv, c-iii, d-v
(B) a-i, b-v, c-ii, d-iv
(C) a-ii, b-iii, c-i, d-v
(D) a-ii, b-iv, c-v, d-iv


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