Legal Aspects of Business MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11

31.
Every company has to file with registrar, a copy of

A. Articles of Association

B. Prospectus

C. Memorandum of Association

D. None of the above

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32.
When can a breach of condition be treated as a breach of warranty by the seller as per the provisions of Sale of Goods Act, 1930?

A. When the buyer fulfils the condition stipulated to the contract of sale

B. When the contract of sale is severable and the buyer has accepted the entire goods

C. When the contract of the sale is not severable and the buyer has accepted the goods or part thereof, subject to an express or implied term in the contract

D. When the contract of the sale is severable and the buyer has accepted the entire goods or part thereof

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33.
The . . . . . . . . shall be treated as supply even if made without consideration.

A. Supply of goods by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal

B. Supply of goods by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal

C. Permanent transfer or disposal of business assets where input tax credit has been awaited. On such asserts

D. All of the above

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34.
When the goods are sold on credit and credit period is not expired, the seller of goods is

A. Called unpaid seller

B. Is not the seller at all

C. Not called an unpaid seller

D. None of the above

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35.
Indicate the true statement.

A. Large industrial houses are outside the purview of the Competition Act, 2002

B. There is no provision for curbing frivolous complains under the CPA

C. The Trademark Act, 1999 does not apply to services

D. All of the above

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36.
Mr. X writes, "I promise to pay 'Mr. Y , Rs. 5,000, 7 days after the death of Mr. Z." This is

A. Invalid

B. Valid

C. Illegal

D. Void

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37.
Which of the following is not a method of creating a company?

A. A written agreement made by the directors

B. Registration under the Companies Act, 2006

C. Act of Parliament

D. Grant of Royal Charter

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38.
Match List-I with List-II and select the correct answer:

List-I List-II

a. Cyber Crime 1. Intellectual Property Right Act

b. Doctrine of Caveat Emptor 2. Negotiable Instrument Act

c. Dishonour of Bill 3. Sale of Goods Act

d. Patent and Copyrights 4. The Information Technology Act

A. a-3, b-4, c-1, d-2

B. a-3, b-2, c-4, d-1

C. a-4, b-3, c-2, d-1

D. a-2, b-4, c-3, d-1

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39.
Which of the following statements are true in context of an associate company under Companie Act, 2013?

A. An associate company to another company means a company in which such other company has a significant influence

B. A holding company in relation to another company has been defined under section 2 (46) of the 2013 act as a company of which such other company is a subsidiary company

C. An associate company is a company in which a notable portion of shares is owned by a parent company

D. All of the above

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40.
Who can be a partner in a Limited Liability Partnership?

A. An individual

B. A body corporate

C. A HUF

D. Both A and B

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. Cyber Crime	1. Intellectual Property Right Act
b. Doctrine of Caveat Emptor	2. Negotiable Instrument Act
c. Dishonour of Bill	3. Sale of Goods Act
d. Patent and Copyrights	4. The Information Technology Act

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

31. Every company has to file with registrar, a copy of

Answer & Solution

32. When can a breach of condition be treated as a breach of warranty by the seller as per the provisions of Sale of Goods Act, 1930?

Answer & Solution

33. The . . . . . . . . shall be treated as supply even if made without consideration.

Answer & Solution

34. When the goods are sold on credit and credit period is not expired, the seller of goods is

Answer & Solution

35. Indicate the true statement.

Answer & Solution

36. Mr. X writes, "I promise to pay 'Mr. Y , Rs. 5,000, 7 days after the death of Mr. Z." This is

Answer & Solution

37. Which of the following is not a method of creating a company?

Answer & Solution

38. Match List-I with List-II and select the correct answer: List-I List-II a. Cyber Crime 1. Intellectual Property Right Act b. Doctrine of Caveat Emptor 2. Negotiable Instrument Act c. Dishonour of Bill 3. Sale of Goods Act d. Patent and Copyrights 4. The Information Technology Act

Answer & Solution

39. Which of the following statements are true in context of an associate company under Companie Act, 2013?

Answer & Solution

40. Who can be a partner in a Limited Liability Partnership?

Answer & Solution

Read More Section(Legal Aspects of Business)

31.
Every company has to file with registrar, a copy of

32.
When can a breach of condition be treated as a breach of warranty by the seller as per the provisions of Sale of Goods Act, 1930?

33.
The . . . . . . . . shall be treated as supply even if made without consideration.

34.
When the goods are sold on credit and credit period is not expired, the seller of goods is

35.
Indicate the true statement.

36.
Mr. X writes, "I promise to pay 'Mr. Y , Rs. 5,000, 7 days after the death of Mr. Z." This is

37.
Which of the following is not a method of creating a company?

38.
Match List-I with List-II and select the correct answer:

List-I List-II

a. Cyber Crime 1. Intellectual Property Right Act

b. Doctrine of Caveat Emptor 2. Negotiable Instrument Act

c. Dishonour of Bill 3. Sale of Goods Act

d. Patent and Copyrights 4. The Information Technology Act

39.
Which of the following statements are true in context of an associate company under Companie Act, 2013?

40.
Who can be a partner in a Limited Liability Partnership?