BUSINESS LAW - II (MCQS) FEBRUARY - 2017 - Study For Buddies

Tuesday, April 6, 2021

BUSINESS LAW - II (MCQS) FEBRUARY - 2017

T.Y B.COM
SEMESTER - 6



BUSINESS LAW - II
MCQS = FEBRUARY - 2017


1. The law of partnership is an extension to the law of .............. 


A) Agency 

B) Indemnity 

C) Guarantee

D) Pledge


2. When partnership is formed for a particular period or for specific venture, it is called-


A) Partnership at will 

B) Partnership not at will

C) Particular partnership

D) None of these


3. If a person represents to the outside world by words spoken or written or by his conduct that he is a partner in a certain partnership firm, he is called as .............

 

A) Sleeping partner 

B) Sub partner

C) Partner by estoppels

D) None of these


4. An unregistered firm and its partners suffer from which of the following disabilities?

i. No suit in civil court by partner against the firm.

ii. No suit in civil court by partner against the other co-partners.

iii. No suit in civil suit by a firm against third parties.


A) i and ii

B) ii and iii

C) i and iii

D) i, ii and iii


5. Which of the following is not a right of partners?


A) To take part in the conduct of the business. 

B) Access to books.

C) Liable jointly & severally

D) Interest on capital


6. Under which of the following cases, the firm is dissolved by the order of the court?

i. Insanity

ii. Permanent incapacity 

iii. Misconduct

iv. Continuous losses


A) ii & iv

B) ii, iii & iv

C) i & iv

D) i, ii, iii & iv


7. There must be at least  ..............  woman/women member/s in National Commission.


A) Four

B) Three

C) Two

D) One


8. Where the value of claim is more than rupees one crore, which of the following has jurisdiction?


A) Family Court

B) State Commission 

C) National Commission

D) District Court


9. The members of District Forum can hold the office maximum up to .............. years of age. 


A) 75

B) 70

C) 67

D) 65


10. Who is not a consumer?

i. A person buying goods for Commercial Purpose.

ii. A person buying goods for Resale.

iii. A person availing services at free of cost.

iv. A person availing services under the contract of personal services. 


A) i, ii & iv

B) i, ii, iii & iv

C) ii, iii & iv

D) ii & iv


11. Which of the following are Objects of the Consumer Protection Act, 1986?

i. Right to safety

ii. Right to be informed

iii. Right to be heard

iv. Right to seek redressal

.

A) i, ii, iii & iv

B) ii, iii & iv

C) iii & iv

D) i & ii


12. For incorporation of a private company, other than one Person Company, minimum number of persons require is ........... 


A) Two

B) Seven

C) Five

D) Four


13. In which of the land mark case it has been held that, A company is separate entity from its members on incorporation.


A) Asbury Railway Carriage & Iron Co. V. Riche 

B) Royal British Bank V. Turquand

C) Solomon V. Solomon & Co. Ltd.

D) None of these above


14. Companies created by special Act of Parliament are called as ......... Companies.


A) Charted Company

B) Registered Company

C) Subsidiary Company

D) Statutory Company


15. A one person company is always having a status of


A) Private Company 

B) Public Company 

C) Government Company 

D) None of these


16. In which of the following cases, the corporate veil of the company may be lifted?

i. Reduction of number of members below statutory minimum

ii. Mis description of company's name

iii. Protection of Revenue

iv. Where company is a sham


A) Only ii

B) Only iv

C) Only iii

D) All i, ii, iii & iv


17. In no case, the maximum numbers of members in a private company other than One Person Company can exceed .............. 


A) 60

B) 100

C) 200

D) 150


18. Which of the following documents of the company are deemed to be public documents?


A) Memorandum of Association

B) Articles of Association

C) Both (A) & (B)

D) None of there


19. Any company or body corporate incorporated outside India which has a place of business in India whether by itself or through an agent, physically or through electronic mode, and conducts any business activity in India in any other manner is called ............. 


A) Foreign Company 

B) Holding Company 

C) Chartered Company

D) Dormant Company


20. The name of the company-


A) shall not be identical with the name of an existing company.

B) Shall not resemble or too nearly to the name of existing company.

C) Can resemble or too nearly to the name of existing company.

D) Both (A) & (B)


21. If in the opinion of the Central Government, the name of the company is identical or too nearly resembles the name of existing company, the company shall change its name or new name, as the case may be, within a period of .......... from the issue of such direction.


A) 6 months

B) 4 months

C) 3 months 

D) 1 months 


22. What is the effect of ultra vires transactions?

i. Null & Void

ii. No Ratification

iii. Injunction

iv. Valid 


A) i & ii

B) ii & iii

C) i, ii & iii

D) iv


23. A company proposing to make an offer of securities may issue .................. prior to the issue of a further prospectus.


A) Shelf Prospectus

B) Red Herring Prospectus

C) Blue Herring Prospectus

D) Green Herring Prospectus


24. Which of the following is landmark judgement in connection with Doctrine of Ultra Vires? 


A) Asbuny Railway Carriage & Iron Co. V. Riche 

B) Royal British Bank V.Turquand

C) Solomon V. Solomon & Co. Ltd.

D) None of these


25. Which of the following is landmark judgement in connection with Doctrine of Indoor Management?


A) Asbury Railway Carriage& Iron Co. V. Riche 

B) Royal British Bank V. Turquand 

C) Solomon V. Solomon& Co. Ltd.

D) None of these


26. Which of the following are exceptions to the Doctrine of Indoor Management?


A) Suspicion of Irregularity

B) Knowledge of irregularities 

C) Forgery

D) All of these


27. The partnership is the relation between at least ..........  persons.


A) Two

B) Seven

C) Three

D) Five


28. Which of the following statement is correct?


A) Maximum numbers of partners cannot be more than Nine.

B) Partnership arises from contract.

C) Partnership arises from status.

D) No carrying on of business is required.


29. Persons who have entered into partnership with one another are called collectively-


A) Firm Name

B) Partners

C) A firm

D) None of these


30. In any case, if the numbers of partners exceeds the statutory limit, it is termed as ................. 


A) Legal Association 

B) Illegal Association 

C) Valid Association

D) None of these


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