scdl assignment of business law

• Business Law

Business Law True/False Question Agreement is defined as a contract at its inception. Correct Answer True Your Answer True

Select The Blank Question ________ is the ________ method of voting with the rule “one share one vote “ Correct Answer poll Your Answer poll Correct Answer capitalistic Your Answer individualised

Multiple Choice Single Answer Question Agency can be created by Correct Answer Operation of law Your Answer Operation of law

Multiple Choice Single Answer Question Where the property in goods sold has been passed, the unpaid seller has the Correct Answer right to stop goods in transit Your Answer right to stop goods in transit

True/False Question A minor may draw, endorse, deliver and negotiate a negotiable instrument to bind other parties except himself Correct Answer True Your Answer True

Multiple Choice Single Answer Question Dissolution by the order of the Court at the suit of a partner on certain grounds, which include Correct Answer Willful or persistent breach of agreement by a partner Your Answer Willful or persistent breach of agreement by a partner

Select The Blank Question The agency can be ________ At any time by ________ agreement between the principal and his agent. Correct Answer terminated Your Answer individual Correct Answer mutual Your Answer mutual

Multiple Choice Multiple Answer Question The requirement of valid Memorandum of Association are that it Correct Answer is to be signed by at least seven persons in case of public company , is to be signed by at least two persons in case of private company Your Answer is to be signed by at least seven persons in case of public company , is to be signed by at least two persons in case of private company

Match The Following Question Correct Answer Your Answer An Outsider or a stranger who holds himself out or represents himself to be a partner of the partnership firm and induces outsider to give credit to the firm partner by estoppel partner by estoppel A person who becomes a partner by entering into partnership agreement & is actual engaged in the conduct and management of the partnership business Ostensible partner Ostensible partner A person who only lends his name to the partnership firm but does not invest any capital in the firm nor does take any interest in the affairs of the firm Nominal Partner Nominal Partner When partners agree to share the profits of the partnership firm with any outsider, such An outsider is known as Sub-Partner Sub-Partner A partner whose existence in the firm is kept secret from the outside world Dormant Partner Dormant Partner

Multiple Choice Multiple Answer Question Following are the conditions needed to prove an act of a partner is an act of a partnership firm Correct Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm Your Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm

Multiple Choice Multiple Answer Question A consumer is Correct Answer Nominee under a policy of life insurance , A Railway passenger , An employee who is member of Employees Provident Fund Scheme Your Answer Nominee under a policy of life insurance , A Railway passenger , An employee who is member of Employees Provident Fund Scheme

Multiple Choice Multiple Answer Question Following are the elements which constitute a partnership Correct Answer there must be a contract regarding a partnership , there must be an association of two or more persons Your Answer there must be a contract regarding a partnership , there must be an association of two or more persons

Select The Blank Question A meeting is ________ of a number of persons for ________ a lawful business having certain purpose or purposes Correct Answer an assembly Your Answer an assembly Correct Answer transacting Your Answer transacting

Multiple Choice Multiple Answer Question Following are the conditions to be fulfilled before a seller can be deemed to be an unpaid seller Correct Answer he must have an immediate right of action for the price , he must have sold goods against cash and the price must be due Your Answer he must have an immediate right of action for the price , he must have refused payment when tendered , he must have sold goods against cash and the price must be due

Multiple Choice Multiple Answer Question Following are the examples of statutory companies Correct Answer Reserve Bank Of India , Unit Trust Of India Your Answer Reserve Bank Of India , Unit Trust Of India

Multiple Choice Multiple Answer Question Following persons can not be called partners Correct Answer minors , insolvents , co-owners without the agreement to carry on the business Your Answer minors , co-owners without the agreement to carry on the business

Match The Following Question Correct Answer Your Answer Sale Exchange of goods for price Exchange of goods for price Barter Exchange Exchange of goods for goods Exchange of goods for goods Sale of Goods Act, 1930 Movable goods Movable goods Caveat Emptor Let the buyer beware Let the buyer beware Quiet possession Implied Warranty Implied Warranty

Multiple Choice Single Answer Question A consumer has right to be assured, wherever possible, access to services at Correct Answer competitive prices Your Answer competitive prices

Multiple Choice Multiple Answer Question Following are the characteristics of partnership at will Correct Answer partners are always free to break their relationship at their whim , it is for indefinite period Your Answer partners are always free to break their relationship at their whim , it is for indefinite period

True/False Question A commission agent is generally appointed for selling and buying goods on behalf of his principal Correct Answer True Your Answer True

Multiple Choice Multiple Answer Question Transmission of shares takes place due to Correct Answer death of a member , insolvency of a member , lunacy of a member Your Answer death of a member , lunacy of a member , minority of a member

Multiple Choice Multiple Answer Question In the absence of usage or custom of trade to the contrary, the implied authority of a partner does not empower him to Correct Answer acquire movable property on behalf of the firm , transfer movable property belonging to the firm Your Answer acquire movable property on behalf of the firm , admit any liability in a suit or proceedings against the firm , transfer movable property belonging to the firm

Multiple Choice Multiple Answer Question Following are the persons who cannot enter into partnership firm Correct Answer A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business Your Answer A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business

Multiple Choice Multiple Answer Question The maker, acceptor or endorser respectively of a negotiable instrument is discharged from liability thereon by Correct Answer release , payment , non cancellation Your Answer non-acceptance , release , payment

Multiple Choice Single Answer Question The National Commission shall decide the complaint as far as possible within a period of Correct Answer three months from the date of notice received by the opposite party Your Answer three months from the date of notice received by the opposite party

Select The Blank Question When the ________ of a bill is ‘for collection only’ the endorsee cannot be a ________ Correct Answer Endorsement Your Answer Endorsement Correct Answer holder Your Answer holder

Select The Blank Question Un-called capital is the part of ________ and ________ capital which has not been called up. Correct Answer issued Your Answer issued Correct Answer subscribed Your Answer subscribed

True/False Question Special Notice and Special Resolution mean one and the same. Correct Answer False Your Answer True

Select The Blank Question ________ Trade Practice is a trade practice which for the purpose of promoting a sale, use or supply of any goods or for the provision of any service adopts any ________ practice. Correct Answer unfair Your Answer unfair Correct Answer deceptive Your Answer deceptive

True/False Question Consumer is a person who procures service under a contract of personal service Correct Answer False Your Answer True

Multiple Choice Multiple Answer Question Property of the company is the property of Correct Answer Promoters before the existence of the company , the company itself after its incorporation Your Answer its share-holders , Board of Directors , Promoters before the existence of the company

True/False Question English Law does not recognize Formal Contract Correct Answer False Your Answer False

Select The Blank Question Reserved capital is the part of ________ capital which can only be called up at the time of & for the purpose of ________ the company Correct Answer uncalled Your Answer uncalled Correct Answer winding up Your Answer winding up

True/False Question The partners need not sign the partnership deed. Correct Answer False Your Answer False

Select The Blank Question When the person to whom the proposal is made ________ his assent thereto, the proposal is said to be ________ Correct Answer Signifies Your Answer Accepted Correct Answer Accepted Your Answer Declared

Multiple Choice Multiple Answer Question Goods includes Correct Answer trade marks , good will Your Answer actionable claims , money

Multiple Choice Multiple Answer Question Characteristics Articles of Association are Correct Answer it contains rule for the internal management of the affairs of the company , it is subordinate to the Memorandum of Association Your Answer contains objectives for which the company is established , it contains rule for the internal management of the affairs of the company , it is subordinate to the Memorandum of Association

Select The Blank Question ________ implies committing or threatening to commit any act ________ by the Indian Penal Code. Correct Answer Coercion Your Answer Coercion Correct Answer forbidden Your Answer forbidden

Select The Blank Question ________ is an invitation made to the ________ Correct Answer Prospectus Your Answer Prospectus Correct Answer public Your Answer public

Multiple Choice Single Answer Question A factor is a type of Correct Answer Mercantile Agent Your Answer Mercantile Agent

True/False Question Agents acting jointly and severally are known as co-agents Correct Answer True Your Answer True

Multiple Choice Single Answer Question Enforcement of contingent contract depends on Correct Answer Happening or Non-happening of the event Your Answer Happening of the event

Multiple Choice Single Answer Question In a sale, if the buyer becomes insolvent before he pays the price of the goods purchased, the person who can claim the delivery of the goods as the property in goods has been already transferred as a Correct Answer official assignee or receiver Your Answer official assignee or receiver

Select The Blank Question When the ________ of contract becomes ________ , such contract need not be performed Correct Answer performance Your Answer cancellation Correct Answer impossible Your Answer possible

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Monday, june 23, 2008, business law - 4.

Interview Questions http://mindgrillQ.blogspot.com Question Consideration can not be a past consideration. Correct Answer False Question The following types of companies are required to have their own articles Correct Answer Unlimited companies , Companies limited by guarantee , Private companies limited by shares Question When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________. Correct Answer accepted Question An agreement to sell takes place in the case of existing goods or specific goods. Correct Answer False Question Specific goods are those which are identified and agreed upon at the time of a contract of sale is made. Correct Answer True Question As per S.2(1) (f) of the Consumer Protection Act, defect means any ________ in the quality of goods Correct Answer shortcoming Question The membership of the association of company shall cease on the dissolution of the firm. Correct Answer True Question There can not be any partnership where a business is carried on Correct Answer With a benevolent purpose , Where any one of the patterns is entitled to total profit earned. Question Selection committee for the appointment of the District Forum consists of Correct Answer President of the State Commission , Secretary of the Law Dept. of the state Question There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital. Correct Answer True Question The directors of a company have to file their consent with the ________ to act as director. Correct Answer registrar Question Unpaid seller's right to stop the goods in transit arises only when the buyer is ________ Correct Answer Bankrupt Question A ________ is an artificial person and has a legal entity. Correct Answer Company Question The companies having Articles are Correct Answer Unlimited Company , Company limited by guarantee , Company limited by shares Question Issued capital can be defined as the ________ of shares which are offered to the public for subscription. Correct Answer nominal value Question Partnership is based on ________ Correct Answer faith Question The ingredients of the proposal are Correct Answer communication by one to another , to do or to abstain from doing something , the object should be to take assent of another Question Following are the conditions needed to prove an act of a partner is an act of a partnership firm Correct Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm Question An agent was instructed by his principal to insure the goods, but he neglected to insure the goods. As a result, the principal had to suffer the loss. Who is responsible for the loss ? Correct Answer agent Question A Consumer has the following rights Correct Answer To get the education of the availability of legal remedies , Seek redressal against unfair trade practices , To be informed about quality, quantity, potency, purity, standard and price of goods Question Following persons can not be called partners Correct Answer minors , insolvents , co-owners without the agreement to carry on the business Question There can not be any partnership where a business is carried on Correct Answer with a benevolent purpose , where any one of the partners is entitled to total profit earned Question In the right of lien, the possession is retained by Correct Answer Unpaid seller Question The Indian Contract Act, 1872, does not cover all those duties which are not ________ in nature. Correct Answer contractual Question An unregistered firm can institute a suit against Correct Answer wrongful use of the trade mark , wrongful use of the firm name Question Following are the persons who cannot enter into partnership firm Correct Answer A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business Question During the continuance of the firm, a transfer by a partner of his interest is the first restricts the transferee to Correct Answer inspect the books of the firm , require accounts , interfere in the conduct of a business of a firm Question There are certain limitations to the principle of ratification which are Correct Answer where the principal does not have full knowledge at the fact , where the act to be ratified is illegal or void , where the ratification is not done within a reasonable time Question In an appeal to the National Commission the appellant shall submit Correct Answer Six copies of memorandum Question the vacancies arising from designation of the members of the Central Council shall be filled from the same category by the Correct Answer Central Government Question Where the partners agree to carry on the business for a definite period of time, the partnership is said to be Correct Answer for a fixed period Question In contract of sale the buyer becomes Correct Answer Absolute owner of the property Question In contract of sale Correct Answer ownership in the property is passed from the seller to the buyer. Question A Promissory Note contains conditional undertaking to pay a certain sum of money. Correct Answer False Multiple Choice Single Answer Question A public company doesn't have its own articles of association, it may adopt Correct Answer Table A as given in schedule-1 Question Following are the elements which constitute a partnership Correct Answer there must be a contract regarding a partnership , there must be an association of two or more persons Question Correct Answer Your Answer Minor Partner Admitted for profits only Admitted for profits only Dissolution of a Partnership Death or Insanity of the partners Death or Insanity of the partners Firm Partners Partners Partner Agents of the firm Agents of the firm Partnership Can be formed at Will Can be formed at Will Question The corporate veil under the Companies Act may be lifted in the following instances Correct Answer To investigate the real ownership of shares , To investigate the names and members of the company , To investigate whether the company is sham Question A club or a society is an ________ of persons Correct Answer association Question A partner is called as an outgoing partner by Correct Answer retirement , death , expulsion Question Correct Answer Your Answer Any person who for the consideration becomes the possessor of a promissory note Holder in due course Holder in due course Negotiating Negotiable Instruments so as to bind all, except himself A minor A minor A partner accepting Negotiable Instrument Implied authority Implied authority A person who can't accept or indorse a bill An insolvent An insolvent Question Services rendered by the Post and Telephone Department are covered by the Consumer Protection Act, 1986 Correct Answer True Question The meaning of the term “Caveat Emptor” is Correct Answer let the buyer beware Question A company can sue and also be sued by Correct Answer In its corporate name Question When the property in goods is transferred from the seller to the buyer at once, the contract is called Correct Answer A Sale Question If any ________ is present while forming the agency then the relationship of agency becomes contractual. Correct Answer consideration Question "I promise to pay Mr.John Rs.500/- seven days after my marriage with Miss Lucy" is a promissory note. Correct Answer False

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Admissions related questions, are symbiosis centre for distance learning (scdl) courses approved by any government body, when are the admissions open what is the admission process, when during the year does the program begin, can i speak to an admissions counsellor or get personalised counselling, what is the eligibility criteria, where can i purchase the application form, can i submit my original certificate to scdl pune campus for verification of my documents, my degree certificate is pending, can i submit the internet result copy declared by the university on the website, and would you consider my application, what is provisional admission, what will be my admission date when do i receive the admission letter / id card and study material, can i apply for category change from international/saarc to general or vice versa, when will i be able to access my student services and learning facilities, when is my admission liable to get cancelled will i get refund of fees paid, academics related questions, when and where i can appear for exams, are programs approved by any government body, symbiosis centre for distance learning has a portfolio of programs, how do i choose the right one for me, what are the learning methods at symbiosis centre for distance learning, what is the background of tutors who mentor us for the program, how can i interact with the tutors, how often are the online classes conducted, does scdl conduct contact classes in specific cities, fees related questions, what are the fees for scdl programs, are there any scholarships for the programs, evaluation methodology questions, what is the evaluation methods used for the program, when are assignments scheduled, what if i fail in my assignment can i retake, what types of questions are expected in an assignment, when are the assignment results declared, what are minimum pass marks for assignments, do i have to pay exam fee, where and when can i appear for these exams, what if i fail in my exam can i retake, when are the results declared for the examinations, would i get mark sheet per semester, miscellaneous questions, does symbiosis centre for distance learning offer placements on completion of the programmes, do students form a part of an alumni association on completion of the programs, what are the minimum system requirements for the online mode of study, general questions about symbiosis centre, is scdl recognized by all india council for technical education (aicte), what are the current rankings of symbiosis centre for distance learning, are the programs offered at symbiosis centre for distance learning accepted by the industry, what is the scope of iso 9001:2015 at symbiosis centre for distance learning, how many students are currently pursuing programs at symbiosis centre for distance learning.

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