MCQ-III Sem-B Com -Business regulations.pdf - university of

QUESTION BANK

SCHOOL OF DISTANCE EDUCATION

UNIVERSITY OF CALICUT

BUSINESS REGULATIONS

Prepared by:

Scrutinized by :

B Com

Core Course

III semester

CBCSS - 2019 Admission onwards

Dr Lakshmanan M.PAssistant ProfessorDepartment of CommerceGovt.College, Chittur.

Sri. K.O.FrancisAssociate ProfessorDept of Commerce,Christ College,Irinjalakuda. (Chairman Board of Studies in Commerce(UG)


Business Regulations Page 1

BUSINESS LAWS AND SPECIAL CONTRACTS (UNIT-1 AND 2)

1. The Indian contract act come into force(a) from 1 September 1972 (b) before 1 September 1882(c) from 1 September 1872 (d) after 1 September 1872

2. Contract with minor is(a)illegal (b)valid(c) void (d) voidable

3. Agreement caused by a bilateral mistake of fact is-(a)void (b)voidable(c) illegal (d) valid

4. Which of these is a wagering contract?(a) insurance contract (b) teji mandi contract(c) lottery (d) All of these

5. Consideration must move at the desire of-(a)Third party (b)The promisee(c)The promisor (d)None of these

6. A contract entered into between the parties by words is called-(a) express contract (b) implied contract(c) quasi contract (d) specific contract

7. When an offer can be accepted only by the person to whom it is made, it is called-(a)Express offer (b)General offer(c)Specific offer (d)Implied offer

8.A promise to subscribe to a charity is a(a) Void agreement (b) Void contract(c) Voidable contract (d) Valid contract

9.A contract for the benefit of a minor entered into by his manager is(a) illegal (b)Voidable(c)Void (d)Valid

10. Two or more persons are said to consent when they agree upon(a)The same thing in the same sense (b)The same thing in any sense(c)The same thing in a specific sense (d)None of these

11. The term “Quid pro quo” means:(a) something in return (b) something important(c) something of value (d) something relevant

12. Which of the following is not an essential element of a valid contract:(a) adequacy of consideration (b) capacity to contract



(c) free consent (d) none of the above

13. If a contract provides for the payment of a certain amount on breach of a contract, suchpayment is termed as:

(a) special damages (b) nominal damages(c) liquidated damages (d) compensatory damages

14. The effect of refusal to accept a properly made offer of performance is that:(a) the promisor is not responsible for non-performance and can sue the promisee for

the breach of contract.(b) such offer lapses on rejection by the offeree.(c) the contract is rendered voidable at the option of promisor.(d) the contract is discharged by anticipatory breach.

15. Which of the following case is not covered by the concept of supervening impossibility?(a) Destruction of subject matter(b) Death or incapacity of the promisor(c) Outbreak of war(d) Difficulty of performance

16. In which of the following circumstances a contract can be treated as discharged under theconcept of supervening impossibility?

(a) spurt in prices (b) change in import policy(c) non-receipt of raw material from the supplier (d) shortage of working capital

17. Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of makinga contract if:

(a) he is not illiterate and can read and understand the terms of the contract.(b) he is capable of understanding the contract and forming a rational judgement as to its

effect upon his interests.(c) he is of the age of majority and is not disqualified from contracting by any

law to which he is subject.(d) he is not suffering from any mental disease or distress.

18. A positive assertion, in a manner not warranted by the information of the person making it, ofthat which is not true, though he believes it to be true is said to be a:

(a) fraud (b) misrepresentation(c) mistake (d) misinterpretation

19. A minor can:(a) be an agent (b) be a principal(c) both (d) none of these

20. The consent is said to be free when:(a) two or more persons agree upon same thing in the same sense.(b) all parties to the contract benefit from the contract.(c) it is not the result of coercion or undue influence or fraud or misrepresentation or

mistake.



(d) all of the above.

21. Which of the following may employ an agent?(a) any person who is capable of understanding the contract and forming a rational

judgment as to its effect upon his interest.(b) any person who is engaged in business or profession.(c) any person who is of the age of majority according to the law to which he is subject

and who is of sound mind.(d) all of the above.

22. Choose the incorrect statement:To constitute a wager, following elements should be present in the agreement:

(a) Uncertain event(b) Each party must pay in a win or lose situation(c) Neither party should have any contract over the event(d) There should be a promise to pay money only

23. The Indian Contract Act, 1872 applies to the(a) whole of India including Jammu & Kashmir(b) whole of India excluding Jammu & Kashmir(c) states notified by the government every year(d) northern and eastern Indian states

24. A jus in personam means a right against(a) a specific person (b) the public at large(c) a specific thing (d) none of these

25. Which of the following statement is true(a) an agreement enforceable by law is a contract(b) an agreement is an accepted proposal(c) both (a) and (b)(d) none of these

26. A contract is made where(a) X agrees with Y to discover a treasure by magic(b) X bids at a public auction(c) X takes a sit in a public omni bus(d) X promises in writing to give Rs. 500 to Y

27. Right in rem implies:(a) a right available against the whole world(b) a right available against a particular individual(c) a right available against the Government

28. A void agreement is one which is(a) Valid but not enforceable(b) Enforceable at the option of both the parties



(c) Enforceable at the option of one party(d) Not enforceable in a court of law

29. In case of void agreements, collateral transactions are(a) Also void (b) Unenforceable(c) Not affected (d) Illegal

30. General offer can be accepted by(a) any person (b) specific person(c) any person having notice of it (d) none of these

31. Which of the following does not constitute valid acceptance(a) It has been communicated(b) It is absolute and unqualified(c) It has been presumed from silence of offeree(d) The offer has been accepted by the proper person

32. Which of the following is not the legal requirements of a valid offer(a) It must be communicated to the offeree(b) It must be made with a view to obtain offeree's assent(c) It must express offeree's final willingness(d) It must be made to a specific person and not to public at large

33. As a general rule, an agreement made without consideration is(a) void (b) valid(c) voidable (d) unlawful

34. An agreement made with free consent to which the consideration is lawful but inadequate, is(a) void (b) valid(c) voidable (d) unlawful

35. For the enforcement of a promise to pay a time-barred debt without consideration, which ofthe following condition is not required?

(a) It must be in writing (b) It must be definite and express(c) It must be signed by the promisor (d) It must be registered in Court of Law

36. A contract is discharged by the breach when a party to a contract(a) refuses to perform his promise (b) fails to perform his promise(c) disables himself from performing his part of the promise(d) all of the above

37. Which of the following is incorrect?(a) The impossibility to perform a promise discharges the contract(b) A merger discharges the contract(c) An initial impossibility discharges the contract(d) All of the above

38. The doctrine of impossibility of performance, rendering a contract void, is based on



(a) a commercial impossibility (b) a supervening impossibility(c) just and reasonable ground (d) an unjust enrichment

39. Because of supervening event, the promisor is excused from the performance of the contract.This is known as

(a) a doctrine of frustration (b) an initial impossibility(c) a doctrine of ultra-vires (d) an operation of law

40. Which of the following is correct?(a) A novation means making a new contract in the place of an old contract(b) An alteration means making a new contract in the place of an existing one(c) The performance of a contract is not a method of discharge of contract(d) All of the above

41. _________ indicates that the parties are not further bound under the contract(a) Waiver of a contract (b) Breach of a contract(c) Rescission of a contract (d) Discharge of a contract

42. X contracts to sell his scooter to Y for Rs. 50,000 and Y agrees to pay on delivery. Both theparties perform their promises. This is called

(a) a waiver (b) breach of a contract(c) an attempted performance of contract (d) an actual performance of a contract

43. Assignment by the operation of law takes place(a) by the mutual consent of the parties (b) by the will of either party(c) when the subject matter of a contract ceases to exist(d) by the death of a party to a contract

44. The original contract needs not to be performed, if there is(a) rescission of contract (b) novation of contract(c) alteration of contract (d) all of the above

45. Rescission of a contract means(a) the termination of the contract (b) the renewal of the contract(c) the alteration of the contract(d) the substitution of the new contract in the place of the earlier one

46. When the parties mutually agree to change certain terms of the contract. This is called(a) a rescission of the contract (b) the novation of a contract(c) an alteration of a contract (d) a remission of a contract

47. If a person accepts a lesser sum of money than what was contracted for, in the discharge ofthe whole debt, it is known as

(a) a waiver (b) a remission(c) an alteration (d) a rescission

48. Intentional relinquishment of a right under the contract is called(a) a waiver (b) a breach(c) a rescission (d) an alteration



49. Where a party to contract transfers his rights under the contract to another person, it is legallyknown as

(a) novation of a contract (b) rescission of a contract(c) waiver of a contract (d) assignment of a contract

50. Performance of a contract means(a) fulfilling all the obligations by the promisee(b) fulfilling all the obligations by the promisor(c) performing all the promises, and fulfilling all the obligations by all the parties(d) both (a) & (b)

51. Offer to perform is called(a) attempted performance (b) Caveat emptor Jus in rem(c) Jus in personam (d) Jus in rem Caveat emptor

52. Which is not the essential of a valid tender?(a) Tender must be conditional (b) Tender must be made at a proper place(c) Tender must be for obligation (d) Tender must be made at proper time

53. An offer of performance is known as a/an(a) offer (b) proposal(c) tender (d) acceptance

54. The offer to perform the contract must be(a) unconditional (b) conditional(c) rational (d) provisional

55. The promises forming consideration for each other are called(a) reciprocal promises (b) mutual promises(c) independent promises (d) none of the above

56. Ex turpi causa non oritur action means?(a) From an illegal cause, no action arises(b) From an illegal cause action may arises(c) From an legal cause action may arises(d) From an legal cause action may not arises

57. Consideration and object of an agreement is unlawful if it(a) is fraudulent (b) is possible(c) is impossible (d) all of the above

58. The stifling agreement is(a) wagering (b) contingent(c) voidable (d) void

59. Which of the following agreements are valid?(a) Uncertain agreements (b) Wagering agreements(c) Agreements to do impossible events (d) None of the above



60. In which of the following agreements, restraint of trade is valid?(a) Agreement with buyer of goodwill(b) Trade combinations not opposed to public policy(c) Partnership agreements(d) All of the above

61. An uncertain agreement is(a) Voidable (b) Void(c) Valid (d) Illegal

62. An illegal agreement is(a) not enforceable by law (b) prohibited under law(c) either (a) & (b) (d) both (a) & (b)

63. Which of the following is not a feature of a wagering agreement?(a) Chances of gain or loss (b) Uncertainty of future event(c) Neither party have control over future event(d) Neither parties should have an interest in the event

64. An athletic competitions are valid because they are(a) games of skill (b) just games(c) game of luck (d) all of the above

65. Share market transactions with a clear intention only to settle the price difference are(a) wagering agreements (b) not wagering agreements(c) contingent contracts (d) voidable agreements

66. Which of these are not opposed to public policy?(a) Trading with enemy (b) Stifling prosecution(c) Compromise of compoundable offences (d) Agreement to commit a crime

67. Where a person agrees to maintain a suit, in which he has no interest, the proceeding isknown as

(a) champerty (b) maintenance(c) stifling with prosecution (d) interference with course of justice

68. An agreement whereby one party assists another in recovering money or property and in turnshare in the proceeds of the action is called

(a) champerty (b) maintenance(c) stifling with prosecution (d) trafficking the public office

69. Which of the following is a contingent contract?(a) Contract of insurance (b) Contract for doing impossible acts(c) Marriage contract (d) Wagering agreements

70. Consent means parties agreeing on(a) the terms of contract (b) some terms of contract(c) the same thing in the same sense (d) any matter of contract

71. _________ means forcibly compelling a person to enter into a contract(a) Intimidation (b) Fraud



(c) Mistake (d) Coercion

72. Duress under English contract law is similar to(a) undue influence (b) coercion(c) fraud (d) misrepresentation

73. Fraud means(a) suggestion as a fact, of something which is not true, by a person who does not believe

it to be true(b) active concealment of a fact(c) promise made without any intention of performing it(d) all of the above

74. Ubberima fidei means(a) bad faith (b) utmost good faith(c) good faith (d) no faith at all

75. When one of the parties is under a mistake as to a matter of fact essential to the agreement, itis called

(a) unilateral mistake (b) bilateral mistake(c) partial mistake (d) incomplete mistake

76. The maxim ‘Ignoranlia juris non excusa’ stands for(a) law will not punish ignorant people (b) law will punish illiterate people(c) ignorant people can excuse law (d) ignorance of law of land is no excuse

77. The case of ‘no consent’, i.e., when there is no consent at all, is described by Salmond as(a) error in causa (b) error in consensus(c) consensus ad idem (d) offer and acceptance

78. Capacity to contract means(a) the parties are financially sound to make contracts(b) the parties are physically able to enter into contracts(c) the parties are legally competent to enter into contracts(d) all of the above

79. Competence to contract means(a) age of the parties (b) soundness of the mind of the parties(c) both (a) & (b) (d) intelligence of the parties

80. A minor’s agreement is void. This was held in the case of(a) Mohiri Bibee vs. Dharmadas Ghosh (b) Salma Begam vs. Jan Mohamed Khan(c) Balfour vs. Balfour (d) Chinnaiya vs. Ramaiya

81. A minor can be(a) ratify his agreement after attaining majority(b) be directed by the court for specific performance of the contract(c) always plead his minority(d) be held liable for cheques issued by him



82. A minor’s guardian is not liable to the creditor for breach of contract by the minor, if thecontract is for __________

(a) supply of necessaries (b) supply of non-necessaries(c) supply of services (d) all of the above

83. The doctrine of restitution refers to the restoration of property or goods, obtained by falserepresentation. This doctrine is

(a) beneficial to minors (b) not applicable to minors(c) applicable to minors (d) none of the above

84. A consideration in a contract(a) may be any thing (b) nothing in return(c) something in return (d) may be illusory

85. A consideration may be(a) past (b) present(c) future (d) either (a) or (b) or (c)

86. An agreement not supported by the consideration is called(a) Nudum Pactum (b) an invalid consideration(c) ab initio (d) Namo dat quod non habet

87. The consideration is to be moved sometime after the formation of a contract, it is known as(a) present consideration (b) executory consideration(c) past consideration (d) executed consideration

88. The term privity of contract means(a) stranger to contract (b) contract is private(c) first party to contract (d) second party to contract

89. A proposal may consist of a promise for(a) doing an act (b) abstaining from doing an act(c) either (a) or (b) (d) returning the consideration

90. A offers to sell his car on internet, it is(a) an express offer (b) an implied offer(c) a particular offer (d) no offer

91. The offer which is allowed to remain open for the acceptance over a period of time is knownas a/an

(a) standing offer (b) specific offer(c) special offer (d) implied offer

92. The offer made to a specific person or group of persons is known as a(a) standing offer (b) specific offer(c) special offer (d) separate offer

93. Terms of the offer must be(a) ambiguous (b) uncertain(c) definite (d) vague



94. When a person invites the other party to make an offer, he is said to make a/an(a) proposal (b) offer(c) invitation to offer (d) acceptance

95. Price lists, catalogues, advertisements in newspapers and enquiries from customers are(a) offers (b) invitations to offer(c) acceptances (d) cross offers

96. Goods displayed in a shop with a price label is(a) an offer (b) an invitation to offer(c) a counter-offer (d) a contra-offer

97. When the offers made by two persons to each other containing similar terms of bargain crosseach other in post, they are known as

(a) cross offers (b) implied offers(c) direct offers (d) express offers

98. Which of the following is not the mode of the lapse of an offer?(a) lapse of time (b) case against the offeror(c) insanity of the offeror (d) failure to accept condition precedent

99. Contract is defined as an agreement enforceable by law, vide section . . . . . of the IndianContract Act

(a) 2 (e) (b) 2 (f)(c) 2 (h) (d) 2 (i)

100. When the contract is perfectly valid but cannot be enforced because of certain technicaldefects. This is called

(a) unilateral contract (b) bilateral contract(c) unenforceable contract (d) void contract

101. Where a contract has to be inferred from the conduct of parties, it is called(a) express contract (b) implied contract(c) tacit contract (d) unlawful contract

102. Where the obligation in a contract is outstanding on the part of both parties, it is called(a) void contract (b) illegal agreement(c) valid contract (d) bilateral contract

103. A contract in which, under the terms of a contract, nothing remains to be done by eitherparty is known as

(a) executed contract (b) executory contract(c) unilateral contract (d) none of the above

104. A contract in which, under the terms of a contract, one or both the parties have still toperform their obligations in future is known as



(a) executed contract (b) executory contract(c) unilateral contract (d) none of the above

105. The unpaid seller can exercise his right of lien over the goods fora) price of goods b) storage chargesc) any lawful charges d) all of these

106. An auction sale is complete on thea) fall of hammer b) delivery of goodsc) payment of price d) both (b) and (c)

107. An unlawful act by which an intending purchaser is prevented from bidding or raising theprice at an auction sale is known as

a) decoy ducking b) pufferingc) damping d) none of these

108. The right of lien is exerciseda) to retain possession of goods b) to regain possession of goodsc) to resell the goods d) none of these

109. Which of the following rights are available to the unpaid seller against the buyera) suit for price b) suit for interestc) suit for repudiation d) all of these

110. Delivery of the key of the warehouse by the seller to the buyer will amount toa) Actual delivery b) Symbolic deliveryc) Constructive delivery d) None of these

111. In case the buyer rejects the whole quantity of goods due to short delivery or excessdelivery, the contract is treated as

a) subsisting b) cancelledc) void d) invalid

SALE OF GOODS ACT 1930 (UNIT-3)

112. The Sale of Goods Act, 1930 came into force on(a) 1st day of July 1930 (b) 1st day of January 1930(c) 1st day of August 1930 (d) 1st day of September 1930

113. Which law governs the sale of movable property in India?(a) Transfer of Property Act, 1872 (b) Sale of Goods Act, 1930(c) Indian Contract Act, 1872 (d) all of the above

114. A contract of sale may be(a) oral (b) written



(c) always expressed (d) either (a) & (b)

115. ‘Delivery’ within the meaning of the Sale of Goods Act can be(a) symbolic (b) actual(c) actual (d) either (a) or (b) or (c)

116. The term ‘possession of goods’ means(a) ownership of goods (b) custody of goods(c) both (a) & (b) (d) none of these

117. The term ‘Goods’ in the Sale of Goods Act means(a) subject matter of the contract of sale (b) specific goods only(c) ascertained goods only (d) unascertained goods only

118. The goods which are to be produced by the seller after the contract of sale is made areknown as

(a) contingent goods (b) unascertained goods(c) future goods (d) none of the above

119. Where money is exchanged by one person for some money with another person, thetransaction is known as(a) barter (b) exchange(c) money sale (d) none of the above

120. A Sale of Goods under the Sale of Goods Act, 1930 includes(a) a jus in personam (b) a jus in rem(c) both (a) & (b) (d) neither (a) & (b)

121. Where no price is fixed by express agreement, the buyer shall pay the seller(a) lowest price (b) reasonable price(c) suitable price (d) adhoc price

122. A stipulation in a contract may be(a) condition (b) warranty(c) neither (a) & (b) (d) both (a) & (b)

123. A ‘Condition’ under the Sale of Goods Act has been defined as a stipulation(a) collateral to the main purpose of the contract(b) main purpose of contract(c) essential to the main purpose of the contract(d) all of the above

124. Which of the following is correct?(a) A condition is a stipulation, not essential to the main purpose of the contract.(b) A warranty is a stipulation, collateral to the main purpose of the contract.



(c) Breach of a warranty, gives rise to a right to treat the contract as repudiated.(d) All of the above

125. When the buyer’s right of quiet possession of goods is affected by the seller’s fault, thebuyer can

(a) reject the goods (b) claim for damages(c) repudiate the contract (d) all of the above

126. The buyer shall have and enjoy quiet possession of goods. This is an __________(a) implied warranty as to title (b) implied condition as to title(c) implied warranty as to possession (d) implied condition as to possession

127. In a contract of sale of goods, condition as to merchantable quality of goods applies(a) where goods are bought by description.(b) where the goods are bought from the person who deals in the goods for that

description.(c) where goods are sold under a trade mark.(d) all of the above

128. The general rule is that the buyer of goods is responsible for his choice or selection. Thisdoctrine is

(a) ignorantia juris non excusat (b) Quid Pro Quo(c) Nemo dat quad non habet (d) Caveat Emptor

129. The process of identifying the goods and setting apart is called(a) identification (b) procurement(c) ascertainment (d) allocation

130. ‘Nemo Dat Quod Non Habet’ means(a) no man can pass a better title than what he himself possesses.(b) let the buyer beware.(c) void from the beginning.(d) ignorance of law is no excuse.

131. According to the Sale of Goods Act ‘fault’ means(a) refusal to pay price (b) refusal to deliver goods(c) any wrongful act or default (d) any fraud

132. An unpaid seller loses his right of lien in case of(a) delivery of goods to buyer (b) delivery of goods to carrier or wharfinger(c) tender of price by buyer (d) any of the above

133. An unpaid seller can exercise his right of stoppage of goods in transit(a) by giving notice to the carrier(b) by taking actual possession of the goods(c) by notice of his claim to the bailee who is in possession of the goods(d) either (a) or (b) or (c)

134. Auction sale is also known as



(a) public sale (b) private sale(c) cash sale (d) none of the above

135. Where the seller appoints his person to bid at the auction sale without informing to bidder, itis called as

(a) prepared bidding (b) pretend bidding(c) power bidding (d) both (a) & (c)

136. In contract through sea route, where the seller has to put the goods on board a ship at hisown expenses, the contract is known as

(a) CIF contract (b) FOB contract(c) board obligatory contract (d) ex-ship contract

137. In a contract through sea route where the seller has to deliver the goods to the buyer at theport of destination

(a) FOB contract (b) CIF contract(c) ex-ship contract (d) destination contract

138. The remedies available to a person, suffering from the breach of contract are(a) suit for damages (b) suit for injunction(c) quantum meruit (d) all of the above

139. Where the court orders the defaulting party to carry out the promise according to the termsof the contract, it is called as a/an

(a) quantum meruit (b) rescission(c) injunction (d) specific performance

140. _________ means an order of the court restraining a person from doing what he promisednot to do

(a) quantum meruit (b) rescission(c) specific performance (d) injunction

141. Quantum meruit means(a) a non-gratuitous promise (b) as gratuitous promise(c) as much as is earned (d) as much as is paid

142. When a person has done some work under a contract and the other party repudiates thecontract, then the party who performed the work can claim remuneration for the work done.This is based on the principle of

(a) rescission (b) quantum meruit(c) injunction (d) specific performance

143. X contract to deliver 1000 bags of wheat at Rs. 100 per bag on a future date. On the duedate, he refuses to deliver. The market price on that day is Rs. 120 per bag. Which damagescan be granted by the court

(a) Ordinary damage (b) Special damage(c) Remote (d) Vindictive damage

144. Hadley versus Baxendale case is a leading case on



(a) the breach of implied term (b) the anticipatory breach(c) the remoteness of damages (d) the bilateral mistake of fact

145. Exemplary damage is also known as(a) a vindictive damage (b) a punitive damage(c) a direct damage (d) either (a) or (b)

146. Vindictive damages have been awarded(a) for a breach of the promise to marry (b) for a wrongful dishonour of a cheque(c) either (a) or (b) (d) neither (a) nor (b)

147. Liquidated damages means an amount of the _________ that may result from the breach ofcontract

(a) actual loss (b) loss suffered(c) pre-estimated probable loss (d) pre-estimated actual loss

148. A stipulation for increased interest from the date of default is known as(a) a compensation (b) a penalty(c) liquidated damages (d) damages

149. A quasi-contract(a) is a contract (b) is an agreement(c) has only a legal obligation (d) is not any of these

150. Claim for necessaries supplied to a person incompetent to contract, from the property ofsuch person. It is covered under the concept of

(a) quasi-contract (b) caveat emptor(c) contingent contract (d) wagering agreement

151. A finder of goods(a) a person who finds the goods belonging to another(b) a person who returns any goods to the owner(c) a person who finds the goods belonging to another and takes them into his custody(d) any of the above

152. A contract in which one person promises to compensate the other for the loss suffered byhim, due to the conduct of the promisor or of any other person, is known as

(a) contract of indemnity (b) quasi-contract(c) contract of guarantee (d) none of these

153. The party who gives the indemnity is known as(a) the indemnity-holder (b) the indemnifier(c) the surety (d) the principal debtor

154. A contract in which a person promises to discharge the liability of another person, in case ofdefault by such person, is known as a

(a) quasi-contract (b) contract of indemnity(c) contract of guarantee (d) none of the above

155. In a contract of guarantee, a person who promises to discharge another’s liability is knownas



(a) the principal debtor (b) the creditor(c) the indemnified (d) the surety

156. Liability of the surety is(a) coextensive with the principal debtor (b) primary with the principal debtor(c) secondary to the principal debtor (d) all of these

157. A surety is discharged from the liability by(a) revocation notice by surety (b) material alteration in terms(c) discharge of principal by the creditor (d) all of the above

158. The delivery of goods by one person to another for some specific purpose is known as a(a) bailment (b) pledge(c) pledge (d) mortgage

159. The delivery of goods by one person to another as a security for the repayment of a debt isknown as a

(a) bailment (b) hypothecation(c) pledge (d) mortgage

160. Which of the following persons does not have a right of general lien?(a) Bankers (b) Wharfingers(c) Finder of goods (d) Factors and policy brokers

161. X lent his car to his friend Y for two days without any charges. It is a(a) non-gratuitous bailment (b) gratuitous bailemnt(c) hypothecation (d) beneficial bailment

162. Under the pledge, the person who pledges is known as a pledgor and the bailee is known asa

(a) bailor (b) bailee(c) pledgee (d) pledgor

163. Out of following, which is/are duty of a bailee?(a) To take care (b) To take a reasonable care(c) To sell the goods (d) To retain the goods

164. Out of following, which is/are rights of a bailee?(a) To indemnify(b) To claim necessary expenses(c) To delivery of goods to any one of the joint bailor of the goods(d) All of the above

165. A person appointed to contract on behalf of another person is known as a/an(a) principal (b) agent(c) independent contractor (d) servant

166. A mercantile agent to whom the possession of the goods is given for the purpose of sellingthe same is known as a/an

(a) broker (b) factor



(c) commission agent (d) insurance agent

167. Which of the following is not a right of the agent?(a) Right of lien (b) Right to be indemnified(c) Right to remuneration (d) Right to make secret profits

168. A person appointed by the original agent to act in the business of the agency but under thecontrol of the original agent is known as a/an

(a) agent (b) sub-agent(c) substituted agent (d) del credere agent

169. Where the agent contracts for a principal, who is not competent to contract, in such a casethe agent is

(a) personally liable (b) exceeding authority(c) not personally liable (d) none of these

170. Substituted agent is appointed by whom?(a) Government (b) Court(c) Principal (d) Agent

171. What is the name given to an agency which cannot be terminated?(a) Revocable agency (b) Irrevocable agency(c) Agency for a single transaction (d) Agency created in necessity

172. A surety is NOT discharged from his liability:(a) if terms of contract are varied without his consent.(b) if the creditor gives time to the principal debtor without his consent.(c) if the creditor releases the other co-surety.(d) if the creditor releases the principal debtor.

CONSUMER PROTECTION ACT 1986 (UNIT-4)

173. Cosumer Protection Act is applicable on-(a) Goods (b) Services(c) Restrictive Trade Practices (d) All of these

174. In District Forum in addition to President, minimum members are-(a) Three (b) Two(c) Four (d) No definite number

175. Jurisdiction of State Commission is-(a) Up to 5 lacs (b) Up to 20 lacs(c) Up to 30lacs (d) None of these

176. Age of a member of State Commission must be not less than-(a) 18 years (b) 25 years(c) 35 years (d) 60 years

177. An appellant would be-



(a) Any consumer (b) Any voluntary consumer(c) Legal heir of consumer (d) All of above.

178. The provisions of Consumer Protection Act is applicable(a) goods (b) service(c) goods or service (d) goods and services

179. Under the Consumer Protection Act, complainant means(a) Central or State government(b) legal representative of the deceased consumer(c) both (a) & (b)(d) neither (a) nor (b)

180. Consumer disputes redressal agencies include _________(a) District Forum (b) State Commission(c) National Commission (d) all of the above

181. District Forum shall have same power as are vested in the _________(a) civil court (b) fast track court(c) criminal court (d) special court

182. Which relief can be obtained by consumers from commission?(a) To remove defects from goods(b) Not to offer the hazardous goods for sale(c) To stop manufacturing of hazardous goods(d) All of the above

IT ACT 2000 (UNIT-5)

183. The Information Technology Act, 2000 come into force on :(a) 9th June, 2000 (b) 17th October, 2000(c) 15th December, 2000 (d) none of these

184. The Information Technology Act shall not apply to(a) a negotiable instrument other than a cheque (b) a power of attorney(c) any contract for the sale of immovable property (d) all of the above

185. A person who is intended by the originator to receive the electronic record is, under the ITAct, known as

(a) intermediary (b) originator’s agent(c) addressee (d) keyholder

186. Any person who on behalf of another person receives, stores or transmits a message is,under the IT Act, known as

(a) intermediary (b) originator’s agent(c) addressee (d) keyholder

187. The key of a pair used to create a digital signature is known as



(a) public key (b) private key(c) creator key (d) secret key

188. The key of a key pair used to verify a digital signature(a) public key (b) private key(c) verifying key (d) secret key

189. The Digital Signature Certificate under the IT Act, 2000 is issued by the :(a) Controller (b) Certifying Authority(c) Appellate Tribunal (d) Cyber Authority

190. An electronic record, under the IT Act, 2000, can be authenticated by the subscriber by:(a) affixing his digital signature (b) preserving private key(c) verification (d) both (b) & (c)

191. An application for the issue of Digital Signature Certificate should be accompanied by theprescribed fee not exceeding

(a) Rs. 15,000 (b) Rs. 20,000(c) Rs. 25,000 (d) Rs. 30,000

192. Which of the following statement is incorrect?(a) The Certifying Authority issuing the Digital Signature Certificate may suspend it on

receipt of a request to that effect from the subscriber(b) The Certifying Authority issuing the Digital Signature Certificate certifies that

subscriber’s public key and private key constitute a functioning key pair(c) The Certifying Authority issuing the Digital Signature Certificate may revoke it upon

the death of the subscriber(d) The Digital Signature Certificate once issued cannot be revoked by the Certifying

Authority as the power of revocation is vested in the Cyber Appellate Tribunal

193. An adjudicating officer, under the IT Act, 2000, for holding inquiry and imposing penalty isappointed by the

(a) Controller (b) Central Government(c) Cyber Appellate Tribunal (d) High Court

194. Any person who, without the permission of the owner, damages any computer, computersystem or computer network shall be liable to pay damages by way of compensation underthe IT Act, 2000 upto:

(a) one lakh rupees (b) ten lakh rupees(c) one crore rupees (d) none of these

195. The Information Technology Act is popularly known as(a) cyber law (b) electronic law(c) hacking law (d) security law

196. Key pair includes(a) public key (b) private key(c) both (a) & (b) (d) pass key



197. __________ is the unique value for message or content(a) Hash (b) Encryption(c) Message digest (d) Private key

198. The electronic governance means and includes(a) filing any form online (b) make application online(c) filing any form offline (d) both (a) & (b)

199. What are the benefits of electronic governance?(a) low cost (b) efficient working of government(c) transparency in working of government (d) all of the above

200. Appeal can be made to the ___________ against the order of appellate tribunal(a) Magistrate Court (b) Supreme Court(c) High Court (d) both (a) & (b)

201. Appeal can be made to high court against the order of appellate tribunal within ____ days.(a) 30 (b) 60(c) 45 (d) 90

202. The digital signature can be suspended by the certifying authority in case of(a) public interest (b) interest of user(c) interest of any person (d) both (a) & (c)

203. The controller shall publish notice of _______ of licence in the database maintained by him.(a) suspension (b) revocation(c) both (a) & (b) (d) none of these

Answers

1) c 22) d 43) d 64) a 85) d 106) a 127) d 148) d 169) a 190) a2) c 23) b 44) d 65) a 86) a 107) c 128) d 149) d 170) c 191) c3) a 24) a 45) a 66) c 87) b 108) a 129) c 150) a 171) b 192) d4) c 25) c 46) c 67) b 88) a 109) d 130) a 151) c 172) c 193) b5) c 26) c 47) b 68) a 89) c 110) b 131) c 152) a 173) c 194) c6) a 27) a 48) a 69) a 90) a 111) a 132) d 153) b 174) b 195) a7) c 28) d 49) d 70) c 91) a 112) a 133) d 154) c 175) d 196) c8) a 29) c 50) c 71) d 92) b 113) b 134) a 155) d 176) c 197) c9) d 30) c 51) a 72) b 93) c 114) d 135) b 156) a 177) d 198) d10) c 31) c 52) a 73) d 94) c 115) d 136) b 157) d 178) d 199) d11) a 32) d 53) c 74) b 95) b 116) b 137) c 158) a 179) c 200) c



12) a 33) a 54) a 75) a 96) b 117) a 138) d 159) c 180) d 201) b13) c 34) b 55) a 76) d 97) a 118) c 139) d 160) c 181) a 202) a14) a 35) d 56) a 77) b 98) b 119) b 140) c 161) b 182) d 203) c15) d 36) d 57) a 78) c 99) c 120) b 141) c 162) c 183) b16) b 37) c 58) d 79) c 100) c 121) b 142) b 163) b 184) d17) b 38) b 59) d 80) a 101) b 122) d 143) a 164) d 185) c18) b 39) a 60) d 81) c 102) d 123) c 144) c 165) b 186) a19) a 40) a 61) b 82) d 103) a 124) b 145) d 166) b 187) b20) c 41) d 62) d 83) c 104) b 125) b 146) c 167) d 188) a21) c 42) d 63) d 84) c 105) a 126) c 147) c 168) b 189) b

Documents

MCQ-III Sem-B Com -Business regulations.pdf - university of