Legal Aspects of Business MCQ Questions and Solutions with Explanations

Legal Aspects of Business MCQ Questions and Solutions with Explanations | Commerce

Legal Aspects of Business MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Legal Aspects of Business MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-2 section-9

A complete patent specification shall disclose

A) the best method of performing the invention B) all the methods of performing the invention C) all anticipated uses of the invention D) All of the above

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Answer & Solution

Answer: Option A

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What happens where two or more persons are registered proprietors of trademarks, which are identical with or nearly resemble each other?

A) Depends on the commercial value of trademark B) Depends on the legal viability of trademark registration C) Sole ownership is given to party which registered the trademark earlier D) No one holds the trademark as being sole registered proprietor

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Answer: Option D

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How many day's clear notice should be given to hold a AGM?

A) 7 days B) 14 days C) 21 days D) 28 days

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Answer & Solution

Answer: Option C

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If in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words, then:

A) the instrument is void due to uncertainty B) the amount stated in figure shall be the amount undertaken or ordered to be paid C) the amount stated in words shall be the amount undertaken or ordered to be paid D) none of the above

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Answer: Option C

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To form a valid contract, there should be atleast

A) two parties B) three parties C) four parties D) five parties

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Answer & Solution

Answer: Option A

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In a case of sale of car, the defects relating to engine are

A) patent defects B) latent defects C) technical defects D) None of these

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Answer: Option C

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Which of the following statements is not true in context of Sales of Goods Act, 1930?

A) Specific Goods - goods that are 'identified and agreed upon' when the contract of sale is formed B) Ascertained Goods - defined by the judicial interpretation which have been selected from a larger set of goods C) Unascertained Goods - goods that have been specifically identified but have rather been left to be selected from a larger group D) Uncertain Goods - Goods which are not identified at the time of making the contract of sale are called uncertain Goods

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Answer: Option C

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In public or a private company, a total of two-thirds of directors are appointed by the shareholders. The rest of the one-third remaining members are appointed with regard to guidelines prescribed in the:

A) Article of Association B) Memorandum of Association C) Anyone of A or B D) None of the above

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Answer: Option A

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GST can be collected by:

A) any registered dealer B) any GST dealer C) any service provider D) any dealer

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Answer: Option B

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Which one of the following documents defines the relation of the company with the outside world:

A) Memorandum of Association B) Article of association C) Prospectus D) Statement in lieu of prospectus

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Answer: Option A

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