Business Studies/Business Law MCQ Set 1 Sample Test,Sample questions

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Question:
 A contract by an idiot is_____________.

1. voidable

2.enforceable

3.void ab initio

4. invalid.

Posted Date:-2022-01-08 02:46:45


Question:
 A person who is not a party to contract _____________.

1.cannot sue.

2.can sue.

3.can sue only in well- recognized cases

4.can sue under contract of guarantee.

Posted Date:-2022-01-08 02:40:20


Question:
 A specific offer can be accepted by ______

1. A. any person.

2.any friend of offered

3.any friend of offeree

4.a person to whom it is made.

Posted Date:-2022-01-08 02:39:35


Question:
 A who ooze 10,000 to B dies living and estate of Rs 6,000. The legal representatives of A are _______________.

1.. liable for rs 10,000

2. liable for rs 6,000.

3.no liable at all.

4.liable for Rs 3,000.

Posted Date:-2022-01-08 03:03:23


Question:
 Fraud exists when it is shown that a false representation had been made_____________.

1.knowingly.

2.unknowingly

3.unintentionally

4.recklessly, not caring whether true or false.

Posted Date:-2022-01-08 02:52:00


Question:
 If a price is not determined by the parties in a contract of sale, the buyer is bound to
pay________________

1.The price demanded by the seller.

2. A reasonable price

3. The price which the buyer thinks is reasonable.

4.The price to be determined by a third independent person.

Posted Date:-2022-01-08 04:02:08


Question:
 If a sale is by sample as well as by description, the implied condition is that the goods shall correspond
with_______________

1.Sample.

2.Description

3.Both sample and description.

4.Either sample or description.

Posted Date:-2022-01-08 04:04:14


Question:
 In a sale, there is an implied condition on the part of the seller that he______________

1. Has a right to sell the goods.

2.Is in possession of the goods.

3. Will have the right to sell

4.Will acquire the goods.

Posted Date:-2022-01-08 04:05:22


Question:
 In case of breach of a warranty, the buyer can__________

1. Cannot return the goods.

2.Repudiate the contract

3.Return the goods

4. Refuse to pay the price.

Posted Date:-2022-01-08 04:12:41


Question:
 In case of breach of a warranty, the buyer can__________

1. Cannot return the goods.

2.Repudiate the contract

3.Return the goods

4. Refuse to pay the price.

Posted Date:-2022-01-08 04:12:41


Question:
 In which year IRDA Act passed in __________

1.1999

2.2000

3.2002

4.2002

Posted Date:-2022-01-08 02:57:54


Question:
 Specific performance may be ordered by the court when ______________.

1. the contract is voidable

2. the damages are an adequate remedy

3.the damages are not an adequate remedy.

4. the contract is uncertain.

Posted Date:-2022-01-08 03:07:09


Question:
 The collateral transaction to an illegal agreement are_________.

1. void.

2.illegal

3.voidable

4. not affected at all.

Posted Date:-2022-01-08 02:56:32


Question:
 Which of the relationships raise presumption of undue influence _____

1. landlord and tenant

2.parents and child

3. doctor and patient.

4.. husband and wife.

Posted Date:-2022-01-08 02:54:30


Question:
. A condition is a stipulation which is__________

1. Essential to the main purpose of contract of sale.

2.Not essential to the main purpose of contract of sale.

3.Collateral to the main purpose of contract of sale.

4. Not mandatory.

Posted Date:-2022-01-08 04:07:29


Question:
A bailer is a _________

1. A. a right of a particular lien over the goods bailed

2.a right of generation

3. a right of both particular and general lien

4.no lien at all over the goods bailed

Posted Date:-2022-01-08 03:13:24


Question:
A contract is _____________.

1.an agreement plus a legal obligation

2.legal obligation.

3.consensus ad idem

4.an agreement plus a legal object.

Posted Date:-2022-01-08 02:38:25


Question:
A letter of acceptance sufficiently stamped a duly addressed is put into a course of transmission. There is ______

1.a contract voidable at the option of acceptor

2.a contract voidable at the option of acceptor

3.a voidable contract.

4.no contract at all.

Posted Date:-2022-01-08 02:30:12


Question:
A letter of acceptance sufficiently stamped a duly addressed is put into a course of transmission. There is ______

1.a contract voidable at the option of acceptor

2.a contract voidable at the option of acceptor

3.a voidable contract.

4.no contract at all.

Posted Date:-2022-01-08 02:30:22


Question:
A person is usually of unsound mind, but occasionally of sound mind_____________.

1. A. he may enter into a contract when he is of sound mind.

2.he may not make a contract when even when he is of sound mind.

3.he cannot enter into a contract at all.

4.he can enter all the time.

Posted Date:-2022-01-08 02:45:02


Question:
A who purchases certain goods from B by a misrepresentation pledges them with C . the pledge is _________________

1. valid

2.void

3.voidable

4.invalid

Posted Date:-2022-01-08 03:57:11


Question:
Acceptance may be revoked by the acceptor _____________.

1.before the letter of acceptance reaches the offerer.

2.at any time

3. after the letter of acceptance reaches the offerer

4.before the death of acceptor.

Posted Date:-2022-01-08 02:31:20


Question:
An advertisement to sell a thing by auction is _____________.

1.. an invitation to offer.

2. an offer.

3.no offer at all

4.a contract

Posted Date:-2022-01-08 02:33:28


Question:
An agreement made with an alien enemy is _________.

1.unlawful on the ground of public policy.

2.unlawful because it becomes difficult to be performed.

3.valid

4.voidable.

Posted Date:-2022-01-08 02:57:17


Question:
An agreement made without consideration is _____________.

1.valid.

2.illegal

3.voidable

4.void

Posted Date:-2022-01-08 02:41:06


Question:
An agreement not enforceable by law is said to _____________.

1.voidable.

2.void

3.valid

4.unenforceable

Posted Date:-2022-01-08 02:37:32


Question:
An agreement to do an act impossible in itself__________.

1.. is void.

2.is voidable.

3.. is void ab initial

4.becomes void when impossibility is discovered.

Posted Date:-2022-01-08 03:05:09


Question:
Anticipatory breach of a contract takes place _____________

1.During the performance of the contract

2.At the time when the performance is due

3.Before the performance is due

4.At the time when the contract is entered into

Posted Date:-2022-01-08 03:09:01


Question:
Assignment by operation of law takes place_______________.

1.by the mutual consent of the parties

2.. by the will of either party

3.when the subject matter of a contract cases to exist.

4.by the death of a party to a contract.

Posted Date:-2022-01-08 03:00:29


Question:
Consent given to a contract under some misrepresentation by the other party makes the contract_____________.

1.void.

2.invalid

3.unenforceable

4.voidable

Posted Date:-2022-01-08 02:51:14


Question:
Consideration must move at the desire of _____________.

1. the promisee

2.the promisor

3.promisor or any third party

4.both the promisor and the promise

Posted Date:-2022-01-08 02:35:21


Question:
Consideration _____________.

1. A. must move from the promise. B. C. D.

2.may move from the promisee or any other person

3.may from the third party.

4.may move form the promisor.

Posted Date:-2022-01-08 02:36:14


Question:
Consideration _____________.

1. A. must move from the promise. B. C. D.

2.may move from the promisee or any other person

3.may from the third party.

4.may move form the promisor.

Posted Date:-2022-01-08 02:36:37


Question:
If a contract contains an undertaking to perform impossibility, the contract is __________.

1. void ab initio.

2.void

3.voidable at the option of the plaintiff

4.illegal

Posted Date:-2022-01-08 03:04:17


Question:
If there is error in causal, the contract is _____________.

1. void.

2.voidable

3.valid

4.illegal

Posted Date:-2022-01-08 02:55:25


Question:
In a sale, the property in goods_______________

1. Is transferred to the buyer.

2.Is yet to be transferred to the buyers.

3. May be transferred at a future time.

4. Is transferred when goods are delivered to the buyer.

Posted Date:-2022-01-08 03:58:55


Question:
In case of wrongful dishonour of a cherub by a banker having sufficient fund to the credit of the customer, the court nay award

1. Ordinary damage

2.Nominal damage

3.Exemplary damage

4. Contemptuous damages

Posted Date:-2022-01-08 03:10:40


Question:
Insurance act was established_____________

1.1938

2.1939

3.1940

4.1941

Posted Date:-2022-01-08 04:13:39


Question:
Life insurance act was established ___________

1.1956

2.1957

3.1958

4.1940

Posted Date:-2022-01-08 04:14:31


Question:
On the face of the ticket for a journey the words for conditions see back are printed in a small print. The passenger _________

1.is bound by the conditions whether he takes care to read them or not.

2. is not bound by the conditions

3.may not take note of the conditions.

4. may take note of the conditions.

Posted Date:-2022-01-08 02:34:20


Question:
S and P go into a shop. S says to the shopkeeper, C let P have the goods, and if he does not pay you, I will. This is a __________

1. contract of guarantee

2. contract of indemnity

3. Wagering contract

4.Quasi-contract

Posted Date:-2022-01-08 03:12:41


Question:
The contract of indemnity is a _____________

1. Contingent contract

2. Wagering contract

3.Quasi-contract

4.Void agreement

Posted Date:-2022-01-08 03:11:43


Question:
The doctrine of caveat emptor applies______________

1. In case of implied conditions and warranties

2.When the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment. C.

3. When goods are sold by sample

4.When goods are sold by description.

Posted Date:-2022-01-08 04:03:11


Question:
The gratuitous bailer is liable to the bailer for the defects in the goods bailed_______________

1. Even if he is not aware of them

2.Only if he is aware of them

3. In all cases of loss

4.In certain case of loss

Posted Date:-2022-01-08 03:55:56


Question:
The measure of damages in case of breach of a contract is the difference between the
_______________.

1. contract price and the market price at the date of breach.

2. contract price and the market price at the date of breach.

3.contract and the price at which the plane tiff might have sold the goods.

4.contract price and the price fixed by the court.

Posted Date:-2022-01-08 03:08:10


Question:
The position of a finder of lost goods is that of a ______________

1.Bailer

2.Bailee

3.Surety

4.Principal debtors

Posted Date:-2022-01-08 03:14:26


Question:
The position of a finder of lost goods is that of a ______________

1.Bailer

2.Bailee

3.Surety

4.Principal debtors

Posted Date:-2022-01-08 03:54:35


Question:
The term property as used in the Sale of Goods Act, 1930 means_____________

1.Possession.

2.Ownership

3.Ownership and possession both

4.the subject matter of contract of sale.

Posted Date:-2022-01-08 04:01:05


Question:
Were a contact could not be performed because of the default by a third party on whose work the promiser relied, it ______________.

1.it is not discharged.

2. is discharged

3. becomes void.

4.becomes voidable.

Posted Date:-2022-01-08 03:06:08


Question:
When a party to a contract transfers his contractual rights to another, it is known as ________.

1.rescission of contract

2.waiver of contract

3.discharge of contract.

4. assignment of contract

Posted Date:-2022-01-08 02:59:35


Question:
When the promisee refuses to accept performance from the promiser who offers to perform, it is

1. attempted performance

2.vicarious performance

3.tender

4. frustration of contract

Posted Date:-2022-01-08 02:58:43


Question:
Where consent is caused by fraud or misrepresentation, the contract is

1.voidable at the option of the aggrieved party

2.void

3.unenforceable

4.not affected in any manner.

Posted Date:-2022-01-08 02:49:59


More MCQS

  1. Business Studies-[Class 11-MCQ ]-Chapter 1- Nature and Purpose of Business
  2. Business Studies-[Class 11-MCQS ]-Chapter 2 Forms of Business Organisation
  3. Business Studies-[Class 11-MCQS ]-Chapter 3 Private, Public and Global Enterprises
  4. Business Studies-[Class 11-MCQS ]-Chapter 4 Business Services
  5. Business Studies-[Class 11-MCQS ]-Chapter 5 Emerging Modes of Business
  6. Business Studies-[Class 11-MCQS ]-Chapter 6 Social Responsibilities of Business
  7. Business Studies-[Class 11-MCQS ]-Chapter 7 Formation of a Company
  8. Business Studies-[Class 11-MCQS ]-Chapter 8 Sources of Business Finance
  9. Business Studies-[Class 11-MCQS ]-Chapter 9 Small Business
  10. Business Studies-[Class 11-MCQS ]-Chapter 10 Internal Trade
  11. Business Studies-[Class 11-MCQS ]-Chapter 11 International Business
  12. Business Studies-[Class 11-MCQS ]-Chapter 12 International Business
  13. Business Studies-[Class 12-MCQS ]-Chapter 1 Nature and Significance of Management
  14. Business Studies-[Class 12-MCQS ]-Chapter 2 Principles of Management
  15. Business Studies-[Class 12-MCQS ]-Chapter 3 Business Environment
  16. Business Studies-[Class 12-MCQS ]-Chapter 4 Planning
  17. Business Studies-[Class 12-MCQS ]-Chapter 5 Organising
  18. Business Studies-[Class 12-MCQS ]-Chapter 6 Staffing
  19. Business Studies-[Class 12-MCQS ]-Chapter 7 Directing
  20. Business Studies-[Class 12-MCQS ]-Chapter 9 Financial Management
  21. Business Studies-[Class 12-MCQS ]-Chapter 10 Financial Market
  22. Business Studies-[Class 12-MCQS ]-Chapter 11 Marketing
  23. Business Studies-[Class 12-MCQS ]-Chapter 12 Consumer Protection
  24. Financial Accounting MCQ Part – 2
  25. Financial Accounting MCQ Part – 3
  26. Business Economics MCQ Part 2
  27. Business Economics MCQ Questions and Answers Part – 3
  28. Corporate Finance MCQ Set 1
  29. Corporate Finance MCQ Set 2
  30. Direct Tax MCQ Set 2
  31. Business Information Systems MCQ Set 1
  32. Business Information Systems MCQ set 2
  33. Business Information Systems MCQ set 3
  34. Business Law MCQ Set 1
  35. Business Law MCQ Set 2
  36. Business Law Set 3
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