SCDL Buisness law-BL-Reference

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• In the right of lien, the possession is retained by=Unpaid seller
• The very important stages in the connection of formation of a company are=Promotion , Registration , Floatation
• Even if all the members of a company are citizens of India, the company does not become a citizen of India.=True
• The confirmation of change of registered office of company within a state shall be communicated to the company within ________ from the date of receipt of such application.=Four weeks
• Goods means=growing crops , stocks & shares
• According to the Consumer Protection Act of 1986, goods means as defined under=Sale of Goods Act, 1930
• The registration fo partnership firm is ____=not compulsory
• The unpaid seller has a=right against the goods
• Unenforceable agreements and illegal agreements mean one and the same thing.=False
• The relation between a doctor and his patient is not fiduciary in nature.=False
• A club or a society is an ________ of persons=association
• In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the=Official Assignee , Receiver
• A legal representative being holder of Negotiable Instrument can sue=after the death of the holder
• A sale can be in case of=specific goods , existing goods
• Goods includes=trade marks , good will
• Under section 144, mode of service of summons are=by speed post , by courier services , by concerned police station
• Goods means=birds , gas
• A company is a legal personality and as such it can=Own its property in its own name , Enjoy its property in its own name , Dispose of its property in its own name
• An agency is based upon consent and hence, it is a=consensual relations
• Minor's Agreement=Void ab initio,Threatning to commit =Coercion,Consideration=Past, Present and Future,Mistake=Fact and Law
• When an offer is made to world-at-large, the contract is=made with the person who signs or performs the terms and conditions of the offer
• When the notice of stoppage in transit is given by the seller to the ________in possession of goods, the latter must re-deliver the goods to the seller.=Carrier
• The acts or transactions made by the agent can be ratified if the acts or transaction are=illegal , criminal , void ab initio
• Conditions required to avoid a contract on the ground of supervening impossibilty of performance of the contract=the goods must have been perished before the risk is passed to the buyer , the loss is not caused by the wrongful act or default of either buyer or seller
• A ________ is an artificial person and has a legal entity.=Company
• In a sale if the seller becomes insolvent after a contract of sale and the buyer has paid the price, the buyer can claim the goods from the=Official Assignee , Receiver
• Negotiable instrument recognised by law are=Bill of exchange , Cheque , Promissory Note
• A company can become a partner or can enter into a partnership agreement.=
• FALSE
• A Company, when registered with limited liability under the Companies Act 1956, shall be deemed to be a company=Limited by shares
• Liabilities of partners arises to third party=for wrongful acts of a partners , for misappropriation by its partners , for acts of the firm
• Following persons can not be called partners=minors , insolvents , co-owners without the agreement to carry on the business
• Consideration or object of an agreement is lawful unless it is=forbidden by law
• A company is registered as an artificial person. It has no=Body , Soul , Conscience
• Agents are ________ to act within the scope of the authority given.=authorized
• The essential point about an agent's position is his ________ of making his principal answerable to third parties.=authority
• Special agent and Particular agent mean one and the same thing.=True
• When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________.=accepted
• An unregistered firm can bring an action in any court of Law against=a partner who steals the property of the partnership firm , a partner who purposely damages the property of the partnership firm
• In order to convert a proposal into a promise the acceptance must be=
• absolute and unqualified
• Any person who for the consideration becomes the possessor of a promissory note=Holder in due course, Negotiating Negotiable Instruments so as to bind all, except himself=A minor,A partner accepting Negotiable Instrument=Implied authority,A person who can't accept or indorse a bill=An insolvent
• The provisions of sale of goods were previously included in the Indian Contract Act, 1872.=True
• The law relating to sale of immovable goods is contained in the Sale of Goods Act, 1930.=False
• A company is a legal personality and as such it can=Own its property in its own name , Enjoy its property in its own name , Dispose of its property in its own name
• Company based on ownership is=Public company
• The unpaid seller has a=right against the buyer
• The Central Government may, by license direct the association to be registered which is formed as a limited company for promoting commerce, art etc.=True
• The directors of a company have to file their consent with the ________ to act as director.=registrar
• Penalty for false particulars=Imprisonment for three months, Partnership deed=Name, Place, Date,A statement in prescribed form and accompanied by fees =Required for registration,The registrar of firms= To rectify any mistake
• The confirmation of change of registered office of company within a state shall be communicated to the company within ________ from the date of receipt of such application.=Four weeks
• A banker is a mercantile agent.=False
• Following are the elements which constitute a partnership=there must be a contract regarding a partnership , there must be an association of two or more persons
• Unfair trade practice includes a representation made to public in a form that purpots to be a ________ of a product.=warranty
• All contracts are agreements and all agreements are contracts.=False
• In case of Bill of Exchange, the notice of dishonour is essential.=True
• When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________.=accepted
• Following are the conditions needed to prove an act of a partner is an act of a partnership firm=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
• Existing goods are those goods, which are owned and possessed by the seller at the time of sale.=True
• A,B,C, and D are partners, A retires and B dies, the partnership between them comes to ________=an end
• In special agency,=agency lasts for a specific period , agency lasts for a particular type of job or work , agents has limited authority, Liabilities of partners arises to third party =for wrongful acts of a partners , for misappropriation by its partners , for acts of the firm, Goods identified at the time contract of sale are known as=Ascertained goods, Minor Partner=
• Admitted for profits only, Dissolution of a Partnership=Death or Insanity of the partners, Firm=Partners, Partner=Agents of the firm,Partnership=Can be formed at Will
• A company is registered as an artificial person. It has no=Body , Soul , Conscience
• An agreement of agency must make clear ________ of a person to act on behalf of another person.=intention
• The memorandum of every company shall state=The name of the company , The registered office , The main objects
• A ________ partner is like an undisclosed principal.=sleeping
• A minor admitted to the benefits of partnership is=not personally liable for any act of firm , not entitled to sue partners for account , entitled for the profits of agreed upon
• When an agent has the authority to do all acts connected with the business or trade of his principal, he is known as=a general agent
• Special resolution and confirmation by ________is required for alteration of Memorandum.=Company Law Board
• Money order, Postal order, Share Certificates, Deposit receipts and such other documents are Negotiable Instruments.=False
• There can not be any partnership where a business is carried on=with a benevolent purpose , where any one of the partners is entitled to total profit earned
• Issued capital can be defined as the ________ of shares which are offered to the public for subscription.=nominal value
• Specific goods are those which are identified and agreed upon at the time of a contract of sale is made.=True
• An agreement enforceable by law is a contract.=True
• The liability of companies on the basis of liability are=Unlimited companies , Limited by guarantee , Limited by shares
• Karta of Joint-Hindu family is ________ of his family.=representative
• The meaning of the term “Caveat Emptor” is=let the buyer beware
• The National Commission has the power to entertain appeals against the orders of any=State Commission
• Amendments made in the Consumer Protection Act in 2002 include=
• Provision for substitution of legal heir or representative as a party to the complainant in the event of the death of the opposite party. , Provision for recovery of amounts ordered to be paid by consumer redressal agencies as arrears of land revenue. , Provision for recharging of fee in respect of complaints filed before the consumer redressal agencies
• No consideration is required in formal contracts.=True
• The following types of companies are required to have their own articles=Unlimited companies , Companies limited by guarantee , Private companies limited by shares
• The Prospectus is=A document raising share capital , A Prospectus can be, any notice , Issued to invite the subscription to shares
• Agents are ________ to act within the scope of the authority given.=authorized
• Classification of companies based on the jurisdiction of functioning=A National Company , Multinational Company , Foreign Company
• The subscriber of the memorandum of a company on its registration shall be entered in its register of members as member.=True
• Under a contract of sale goods have to be exchanged for=Money
• 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 ?=agent
• Even if all the members of a company are citizens of India, the company does not become a citizen of India.=True
• One man company is generally a=private company
• Mr. Dang and Mr. Thomas work together. Mr. Dang receives all the profits earned and pays Mr. Thomas certain amount for his work as wages. whether Mr. Dang and Mr. Thomas are=Master and Servant
• An agreement can become a contract if it is=enforceable by law
• A proposal comes to an end by its ________.=rejection
• Following are the types of jurisdiction, which have been conferred on the State Commission=Appellate , Supervisory , Revisiona
• Partnership is based on ________.=Faith
• A Company subject to the provisions of section 32 of the companies act as unlimited may register under this Act as a ________.=Limited company
• Complaint under the Consumer Protection Act, 1986 relates to :-=Unfair Trade Practices , Restrictive Trade Practices , Charging of higher prices
• The monetary jurisdiction is based upon the :-=Amount of relief claimed by the complainant
• Unpaid seller's Right to stop the goods in transit arises only when the buyer is =Bankrupt
• Special resolution and confirmation by ________ is required for alteration of Memorandum.=Company Law Board
• According to the Consumer Protection Act, 1986, a person includes :-=Hindu undivided family , Co-operative society , Individual as well as juristic person
• Company based on ownership is :-=Public company
• The National Commission has the power to entertain appeals against the orders of any :-=State Commission
• Non-registration of a partnership firm does not make the partnership agreement :-=Void
• Agent has duties towards principal in addition to :-=Conducting principal's business , Rendering accounts to principal , Communicating with the principal
• In the Bill of Exchange, the person to whom the bill is made payable is called as :-=Payee
• Where the partners agree to carry on the business for a definite period of time, the partnership is said to be :-=For a fixed period
• The Exception to the rule of "buyer beware" are=quality of goods are not merchantable , presence of patent defect in goods
• A company which has a control over a subsidiary company is a :-=Holding company
• There are two types or kinds of capital of a company, i.e. owned capital and borrowed capital.=True
• Classification of companies based on the jurisdiction of functioning is :-=
• A National Company , Multinational Company , Foreign Company
• A company is :-=Voluntary Association of persons , An artificial legal person , A separate legal entity
• Presentation of Negotiable Instrument=For payment,When an endorser signs the instrument and adds a direction to pay the amount mentioned therein= Endorsement in full, Default in payment of amount of cheque= Dishonour of cheque,Notice of dishonour of cheque=Mandatory provision
•  
• The object of the contract should be :-=Legal one , Lawful
• The Indian Contract Act, 1872, does not cover all those duties which are not ________ in nature.=Contractual
• Partnership is nothing but a psychological relationship existing between the partners.=False
• Loss of profits is an example of liquidated damages.=False
• The company law board confirms the change of registered office of the company within a state.=False
• Ratification is one of the ways of ________ agency.=Creating
• A company can become a partner or can enter into a partnership agreement.=False
• Following are the characteristics of the partnership at will :-=Partners are always free to break their relationship at their will , It is for indefinite period , No provision for determination or termination of the partnership
• The person who buys the goods for trading purposes is not a ________ under the Consumer Protection Act, 1986.=Consumer
• An agreement with a minor is not voidable but :-=Void ab initio
• An agreement to sell takes place in the case of existing goods or specific goods.=False
• An insolvent person can accept or endorse a bill.=False
• A stipulation in a contract of sale with reference to goods which are subject there of may be :-=A condition or warranty
• The State Council consists of the following members :-=Minister in-charge of consumer affairs in the State Govt. , Members representing such interests as may be prescribed by the State Govt.
• Subsidiary company can hold shares and can acquire membership of the holding company.=False
• There should be a ________ and real necessity for creating an agency.
• #NAME?
• For obtaining recognition as an 'Appropriate Laboratory", the applicant shall send an application in the proforma prescribed by the :-=Bureau of Indian Standard
• The object of carrying on a business must be :-=Sharing of profits
• Company is treated as a legal person distinct from its members.=True
• An offer must create ________ relationship.=Legal
• A person is considered the holder of Negotiable Instruments if :-=His name appear on an instrument , He is in possession of bearer instrument , He is the endorsee of a cheque
• Agreement is defined as a contract at its inception.=True
• ________ is the ________ method of voting with the rule "one share one vote "=poll,capitalistic
• Agency can be created by=Operation of law
• Where the property in goods sold has been passed, the unpaid seller has the=right to stop goods in transit
• A minor may draw, endorse, deliver and negotiate a negotiable instrument to bind other parties except himself=True
• Dissolution by the order of the Court at the suit of a partner on certain grounds, which include=Willful or persistent breach of agreement by a partner
• The agency can be ________ At any time by ________ agreement between the principal and his agent.=terminated,mutual
• The requirement of valid Memorandum of Association are that it=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
• 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, 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, 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,When partners agree to share the profits of the partnership firm with any outsider, such An outsider is known as=Sub-Partner,A partner whose existence in the firm is kept secret from the outside world=Dormant Partner
• A consumer is=Nominee under a policy of life insurance , A Railway passenger , An employee who is member of Employees Provident Fund Scheme
• A meeting is ________ of a number of persons for ________ a lawful business having certain purpose or purposes=an assembly, transacting
• Following are the examples of statutory companies=Reserve Bank Of India , Unit Trust Of India
• Sale=Exchange of goods for price, Barter Exchange=Exchange of goods for goods, Sale of Goods Act, 1930=Movable goods,Caveat Emptor=Let the buyer beware,Quiet possession=Implied Warranty
• A consumer has right to be assured, wherever possible, access to services at=competitive prices
• Following are the characteristics of partnership at will=partners are always free to break their relationship at their whim , it is for indefinite period
• A commission agent is generally appointed for selling and buying goods on behalf of his principal=True
• Transmission of shares takes place due to=death of a member , insolvency of a member , lunacy of a member
• In the absence of usage or custom of trade to the contrary, the implied authority of a partner does not empower him to=acquire movable property on behalf of the firm , transfer movable property belonging to the firm
• Following are the persons who cannot enter into partnership firm=A Burmese Buddhist husband and wife carrying on business , the members of Hindu Undivided Family carrying on Family business
• The maker, acceptor or endorser respectively of a negotiable instrument is discharged from liability thereon by=release , payment , non cancellation
• The National Commission shall decide the complaint as far as possible within a period of=three months from the date of notice received by the opposite party
• When the ________ of a bill is ‘for collection only’ the endorsee cannot be a ________=Endorsement,holder
• Un-called capital is the part of ________ and ________ capital which has not been called up.=issued,subscribed
• Special Notice and Special Resolution mean one and the same.=False
• ________ 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.=unfair,deceptive
• Consumer is a person who procures service under a contract of personal service=False
• Property of the company is the property of=Promoters before the existence of the company , the company itself after its incorporation
• English Law does not recognize Formal Contract=False
• Reserved capital is the part of ________ capital which can only be called up at the time of & for the purpose of ________ the company = uncalled, winding up
• The partners need not sign the partnership deed.=False
• When the person to whom the proposal is made ________ his assent thereto, the proposal is said to be ________=Signifies,Accepted
• Characteristics Articles of Association are=it contains rule for the internal management of the affairs of the company , it is subordinate to the Memorandum of Association
• ________ implies committing or threatening to commit any act ________ by the Indian Penal Code.=Coercion,forbidden
• ________ is an invitation made to the ________=Prospectus,public
• A factor is a type of=Mercantile Agent
• Agents acting jointly and severally are known as co-agents=True
• Enforcement of contingent contract depends on=Happening or Non-happening of the event
• 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=official assignee or receiver
• When the ________ of contract becomes ________ , such contract need not be performed=performance,impossible
• A Cheque can be bearer, Order or crossed=True
• Following is an implied condition.=Condition as to sale by sample
• Dissolution by voluntary act of the partners, which includes=dissolution by agreement
• Following are the conditions to be fulfilled before a seller can be deemed to be an unpaid seller=he must have an immediate right of action for the price , he must have sold goods against cash and the price must be due
• Consideration can not be a past consideration.=False
• The following types of companies are required to have their own articles=
• Unlimited companies , Companies limited by guarantee , Private companies limited by shares
• When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be ________.=accepted
• As per S.2(1) (f) of the Consumer Protection Act, defect means any ________ in the quality of goods=shortcoming
• The membership of the association of company shall cease on the dissolution of the firm.=True
• Selection committee for the appointment of the District Forum consists of=President of the State Commission , Secretary of the Law Dept. of the state
• Unpaid seller's right to stop the goods in transit arises only when the buyer is ________=Bankrupt
• The companies having Articles are=Unlimited Company , Company limited by guarantee , Company limited by shares
• The ingredients of the proposal are=communication by one to another , to do or to abstain from doing something , the object should be to take assent of another agent
• A Consumer has the following rights=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
• An unregistered firm can institute a suit against=wrongful use of the trade mark , wrongful use of the firm name
• During the continuance of the firm, a transfer by a partner of his interest is the first restricts the transferee to=inspect the books of the firm , require accounts , interfere in the conduct of a business of a firm
• There are certain limitations to the principle of ratification which are= 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
• In an appeal to the National Commission the appellant shall submit=Six copies of memorandum
• the vacancies arising from designation of the members of the Central Council shall be filled from the same category by the=Central Government
• In contract of sale the buyer becomes=Absolute owner of the property
• In contract of sale=ownership in the property is passed from the seller to the buyer.
• A Promissory Note contains conditional undertaking to pay a certain sum of money.=False
• A public company doesn't have its own articles of association, it may adopt=Table A as given in schedule-1
• The corporate veil under the Companies Act may be lifted in the following instances=To investigate the real ownership of shares , To investigate the names and members of the company , To investigate whether the company is sham
• A partner is called as an outgoing partner by=retirement , death , expulsion
• Services rendered by the Post and Telephone Department are covered by the Consumer Protection Act, 1986=True
• A company can sue and also be sued by=In its corporate name
• When the property in goods is transferred from the seller to the buyer at once, the contract is called=A Sale
• If any ________ is present while forming the agency then the relationship of agency becomes contractual.=consideration
• "I promise to pay Mr.John Rs.500/- seven days after my marriage with Miss Lucy" is a promissory note.=False
• Promise may be fraud if it is made=without intending to perform it , to deceive
• If one of the parties to the contract dies the contract becomes void.=False
• Waiver=vDeliberate abandonment of a rights by the parties to the contract
• The ownership capital of the company is divided into a number of=Shares,
• The term of central protection council is=three years
• A sale can only be in the case of ________ Or ________ goods.=future, generic
• One of the characteristics of Company is that it is=an artificial person
• Following is true about the Articles of Association=it is required to be signed by the subscribers of the memorandum of association , is to be registered along with the memorandum , a public company may have its own articles of
• A person is deemed to be dominated the will of another if=a real or apparent authority over them , he stands in a fiduciary relation to other
• Two parties=Contract of Sale,Monetary consideration=Price for the goods,Unpaid Seller=Right of lien on goods,Future Goods=Agreement to sell,Identified Goods=Ascertained Goods
• Any person claiming himself as a consumer must ________ that the services must have been ________ to him=prove, rendered
• An unpaid seller has a right against the goods but does not have any personal right against the buyer.=False
• The rights & liabilities of an expelled partner=are exactly same as that of a retiring partner
• If there is breach of a condition, the aggrieved party gets a right to.=repudiate the contract
• Unless there is any agreement to the contrary, on the insolvency of any of the partners of the partnership firm, the firm=is automatically dissolved
• Illusory consideration can also be called as=deceptive
• In a private company shares can=be but with restrictions transferred
• An Order of the Court asking a person to do or to ________ from doing a particular act, which is the subject matter of the contract, is known as ________=Quasi,Injunction
• The estate of a deceased partner or the legal representatives of a deceased partner cannot be held
• for any act of the firm.=True
• ________ is the ________ number of members to be present at the meetings to conduct the business of the meeting as required by law=quorum , minimum
• As per Sec. 2 (1) (O) of the Consumer Protection Act, Service ________ Include rendering of any service under a contract of ________ service.=doesnot, personal
• Following are the essentials of valid acceptance=acceptance must be qualified , acceptance must be communicated to the offeror
• In case the object of an agency becomes unlawful, the agency cannot be terminated=False
• Misrepresentation contains following ingredients=positive assertion , breach of duty without intention to deceive , causing another party to make a mistake as to the substance of the thing
• To turn an agreement into contract the consideration=should be legal , should be lawful , should be law abiding________
• Is Any fault imperfection or shortcoming in quantity, quality, purity or standard to be ________ by or under any law for the time being in force under any contract express or implied is cla=Defects, maintained
• Bill of Exchange need not be stamped property=True
• A ________ is a Cheque drawn with a ________ date.=Post-dated,future
• Where a contract of sale is subject to any condition to be fulfilled by the seller, the buyer may=Waive the condition
• Company can be termed as a Body Corporate.=True
• The altered memorandum must be filed within=three months of the company law boards order
• Partner by holding-out=Partner by estoppel,Dissolution of partnership=Completion of ventures,Right of a partner=To retire,Partner is liable=Loss caused by fraud,Sleeping Partner=Dormant Partner
• an example of implied agency is =Agency by Holding-out
• Consent means=assent of another , assent to support a claim , consent of the offeror to the contract
• An agent does not have the right to enter into contracts with third parties=False
• Negotiable Instruments recognized by usage are=Hundies , S.T. Receipts for goods , Pay off Orders
• Where a ________ promise is made to pay either cash or money’s worth for an uncertain event, it is known as ________ contract=conditional, Wagering
• Stock is a synonym used for Shares.=False
• A company is a legal person with a perpetual succession=it never dies , it can be put an end to only by process of law
• Memorandum of a public company must be signed by=Seven persons
• Unascertained goods=Generic goods,Unpaid seller=Right of lien on goods,Future goods=Agreement to sell,Identified goods=Ascertained goods,
• Fact and Law=The types of "Mistake",An order of the court asking a person to do or abstain from doing a particular act, which is the subject matter of the contract=Injuction Order,The Indian Contract Act, 1872 applies to whole of India except the state of Jammu and Kashmir=Applicability, An agreement enforceable by law=Contract
• Members of a club or a society are the ________ of each other.=friends
• Following are the essential of Undue influence=there must be some relationship between the parties , It is mainly of moral character
• Consent is free when it is not caused by=Undue influence , Fraud , Mistake
• In an agreement to sell the seller is responsible for all the risk of loss as he is the=Owner
• The modes of termination of agency are=By completion of the agency business , By death of principal , By expiry of period or time
• Fraud means and includes following act -=promise to deceive other party , promise without intending to
• Articles of Association contains=Regulations of the company , Internal affairs of the company , Conduct of company's business
• An unregistered firm can bring an action in criminal court against=A partner who steals the property of the partnership firm , A partner who purposely damages the property of the partnership firm
• A sale is an executed contract whereas an agreement to sell is an executory contract.=True
• Where the transfer of property in the goods is to take place at a future time it is called=Agreement to sell
• A consumer has the right to be assured, wherever possible, access to services at=Competitive prices
• Railway or S.T. Receipts, Dividend, Warrants, Railway Bonds are not Negotiable Instrument.=False
• Holding out means ________ leading another person to believe in something.=falsely
• Directors of a private company need to file their consent with the registrar to act as director or sign an undertaking.=False
• Section 10 of the Indian Contract Act, 1872 applies to contract of sale.=True
• The registration fo partnership firm is ________.=not compulsory
• There was a contract for sale of goods. Delivery was to be given in october. Owing to a strike in the port of loading, the goods were not shipped until November. The buyers are entitled to=Repudiate the contract , Recind the contract
• A proposes by a letter sent by post to sell a house to B at certain price, B accepts A's proposal - The communication of the acceptance is complete as against B.=when letter is received by A
• Copies of memorandum and articles shall not be given to members.=False
• Every company must have=A Specific name
• A company may, by special resolution, alter the provisions of its memorandum so as to change the objects of the company so far as may be required to enable it=Carry on its business more economically , Amalgamate with any other company , Attain its main purpose by new or improved means
• Under ________ influence the dominant party may hold a real authority over the other party.=undue
• The capacity to contract with an agent is the part of the law of==
• statute
• A breach of a condition may be treated as breach of=Warranty
• Mr. Manik appoints Mr. Naveen as his agent to sell the goods at Rs.10,000/- on his behalf. Mr. Naveen sells the goods for Rs.12,000/- who is liable to account for it to=Mr. Naveen
• The ________ of 1986 is basically passed to protect the interest of the consumer.=Consumer Protection Act
• A company is a ________ company if the holding company controls the majority composition of its board of directors.=
• Mr. Red and Mr. White register their company as a private company with a share capital of Rs. 7, 00,000/- divided into 70,000 shares of Rs.10/- each. Mr. White holds 69,999 shares while Mr. Red holds only 1 share. This is a :-=One man company
• If any member of the Central Council wants to resign from the Central Council, he may do so by a letter addressed to the :-=Chairman
• Coercion means and includes :-=Any act forbidden by the Indian Penal Code , Any threatening to commit illegal act
• The principal must give compensation to his agent in respect of injury caused to an agent by the :-=Principal's neglect , Principal's want to skill , Principal's want to knowledge
• A cheque is dishonoured by :-=Non payment only
• Documents to be presented for the registration of a company with the registrar are :-=The memorandum of the company , Its articles , The agreement, if any
• Past consideration is one which is wholly suffered by the ________ even before making of the agreement.=Promisee
• The social or the domestic contracts are excluded from the purview of the Indian Contract Act, 1872.=True
• Persons who have entered into partnership with one another are called individually partners and they are collectively "a firm".=True
• An auctioneer has full authority to sell the goods of his principal by private contracts.=False
• Notice of dissolution of firm must be ________.=Explicit
• Promissory note must be in :-=In writing , Definite , Unconditional
• Mental acceptance amounts to an acceptance.=False
• A cooler was purchased not for his own use, but it was installed at a bus-stand for the use of public free of charge. it was held that the purchaser was a consumer because :-=There was no commercial purpose
• Certain effects of the insolvency of a partner are as follows :-=An insolvent partner ceases to be a partner , The partnership firm dissolve on the insolvency of any partner
• Following are the agencies of a three tier system of consumer disputes redressal agencies :-=State commission , National commission , District Forum
• In order to become a holder, a person must possess the instrument under some ________ title.=Lawful
• Unenforceable agreements and illegal agreements mean one and the same thing.=False
• A private company can be registered with a paid-up capital of Rs. :-=One lakh
• In case of a public limited company, the maximum number has no limit, but the minimum is fixed at :-=7
• A sale can be in case of :-=Specific goods , Existing goods
• An agreement should be certain and unambiguous.=True
• A trader is a middleman bringing the buyer and seller together and receiving any commission for services rendered by him.=False
• The Articles of Association controls ________ operations of the company.=Internal
• There are certain relations, which are not created by contracts but are upheld by law, which are known as ________ contracts.=Quasi
• Every promise and every set of promises, forming the consideration for each other, is ________.=An agreement
• In the Bill of Exchange, the person who is ordered to pay is called as :-=
• Drawee
• The essential point about an agent's position is his ________ of making his principal answerable to third parties.=Authority
• An agreement of agency must make clear the ________ of a person to act on behalf of another person.=Intention
• During the war, all the members of a private company were killed while they were in general meeting in a bomb attack. The s is whether the company will :-=Survive
• Quasi Contract rests on the ground of :-=Equit
• Memorandum of a company is a primary and supreme document of the company.=True
• There is always a direct privity of contract between the principal and the following=substituted agent , co-agent , general agent
• Sections 1 to 75 of the Indian Contract Act, 1872 provides for the special contracts.=False
• For the existence of a partnership there must be an association of=Two or more persons
• The company cannot exceed the powers conferred on it by its memorandum=True
• A company which has a control over a subsidiary company is a=Holding company
• A Company, when registered with limited liability under the Companies Act 1956, shall be deemed to be a company=Limited by shares
• According to the Consumer Protection Act of 1986, goods means as defined under=Sale of Goods Act, 1930
• Presumptions do not arise where an instrument is obtained by=fraud , offence , illegal consideration
• Acceptance should be made in=The manner prescribed by the promisor and if not prescribed in any reasonable manner
• Sale is a contract plus=conveyance
• An agency can be terminated after lapse of time or completion of the work.=true
• If the principal comes to know that the agent has dishonestly concealed from him any material fact, the principal=can repudiate the transaction , may affirm such transaction , may claim damages for loss
• Amendments made in the Consumer Protection Act in 1993 are=To add "services" relating to housing constructions , To enable filing class action complaints , To impose punishment on the complainant in cases of vexatious complaint.
• The three ingredients in the performance of a contract of sale by the seller are=Transfer of property in goods , The passing of the risk , Delivery of goods
• Instruments payable on demand are=Cheque , Promissory Note , Bill of Exchange
• Ratification is one of the ways of ________ agency.=creating
• The membership of the association of company shall cease on the dissolution of the firm.=True
• Members of a club or a society are the ________ of each other.=friends
• The State Council consists of the following members=Minister in-charge of consumer affairs in the State Govt. , Members representing such interests as may be prescribed by the State Govt.
• An agent is simply blank a ________ between his principal and the third party.=connecting link
• A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price=True
• The property in the Negotiable Instrument passes from one person to another person by ________ delivery.=Mere/ Simple
• The principal can ratify unauthorised act of an agent.=False
• An order of the court asking a person to do or to abstain from doing a particular act, which is the subject matter of the contract, is known as =Injuction
• A partner who invests capital & share profits but do not take active part in firm's business is=a dormant or sleeping partner
• Special resolution and confirmation by ________is required for alteration of Memorandum.=Company Law Board
• The object of the Consumer Protection Act of 1986 is to educate the people so that they can find out ________ for their grievances=legal remedies
• Following are the characteristics of the partnership at will=Partners are always free to break their relationship at their whim , It is for indefinite period
• The intention of the Negotiable Instrument Act is to govern=legal relationship
• If all the members of a company are married, the company would not be a married person.=True
• A firm is a name given to the partners ________=collectively
• An agreement to sell takes place in the case of existing goods or specific goods.=False
• Which authority of an agent can be inferred from the circumstances of the case ?=implied
• Section 2. of Indian Contract Act defines proposal as=when one person communicates his desire to do something for another to obtain the assent of another that is a proposal. , when one person signifies to another his willingness to do or to abstain with a view to obtain the consent of another that is a proposal.
• The object of carrying on a business must be=Sharing of profits