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.
Statement I A cheque is an unconditional order to a specified banker to pay the sum mentioned in the cheque.
Statement II A cheque can be drawn only by a person who has his account with bank while a bill can be drawn by any person.
Statement III A cheque may be crossed but a bill of exchange can not be crossed.
Which of the following statement(s) is/are true?

A. Only Statement I is true

B. Only Statement III is true

C. Both statements II and III are true

D. All statements are true

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32.
Which of the following is a mode of discharge of a negotiable instrument?

A. Payment in due course

B. Party liable becomes holder

C. Material alteration in instrument

D. All of the above

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33.
Which of the following principles is applicable to trademarks?

A. A trademark should be distinctive

B. A trademark should be capable of distinguishing goods or services

C. A trademark should not cause confusion with previous trademarks

D. All of the above

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34.
When a party to instrument refuses to accept or pay the instrument, it is called . . . . . . . . of negotiable instrument.

A. dishonour

B. release

C. alteration

D. All of these

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35.
A cheque which is truncated during the process of clearing cycle is called:

A. Stale cheque

B. Mutilated cheque

C. Self-cheque

D. Truncated cheque

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36.
Which of the following sections of the IT Act, 2000 deal for Credit card fraud?

A. 66, 66C, 66D

B. 42, 67, 67A, 67B

C. 43, 66, 66C, 66D

D. None of the above

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37.
Which one is not the statutory qualification for appointment as a Company Secretary of a company having the paid up share capital of less than Rs. 200 lakhs?

A. Passing of Intermediate Examination of the ICS

B. Master's Degree in Economics

C. Master's Degree in Commerce

D. Diploma in Company Law from Indian Law Institute

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38.
Quasi-contract is a

A. contract

B. legal obligation

C. agreement

D. conlingent contract

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39.
When after the formation of a valid contract, an event happens which makes the performance of contract impossible, the contract becomes

A. voidable

B. void

C. valid

D. illegal

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40.
A company that wishes to ensure that no one else can use their logo, basically refers to:

A. Copyrights

B. Trademark

C. Patent

D. Industrial designs

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

Answer & Solution

32. Which of the following is a mode of discharge of a negotiable instrument?

Answer & Solution

33. Which of the following principles is applicable to trademarks?

Answer & Solution

34. When a party to instrument refuses to accept or pay the instrument, it is called . . . . . . . . of negotiable instrument.

Answer & Solution

35. A cheque which is truncated during the process of clearing cycle is called:

Answer & Solution

36. Which of the following sections of the IT Act, 2000 deal for Credit card fraud?

Answer & Solution

37. Which one is not the statutory qualification for appointment as a Company Secretary of a company having the paid up share capital of less than Rs. 200 lakhs?

Answer & Solution

38. Quasi-contract is a

Answer & Solution

39. When after the formation of a valid contract, an event happens which makes the performance of contract impossible, the contract becomes

Answer & Solution

40. A company that wishes to ensure that no one else can use their logo, basically refers to:

Answer & Solution

Read More Section(Legal Aspects of Business)

32.
Which of the following is a mode of discharge of a negotiable instrument?

33.
Which of the following principles is applicable to trademarks?

34.
When a party to instrument refuses to accept or pay the instrument, it is called . . . . . . . . of negotiable instrument.

35.
A cheque which is truncated during the process of clearing cycle is called:

36.
Which of the following sections of the IT Act, 2000 deal for Credit card fraud?

37.
Which one is not the statutory qualification for appointment as a Company Secretary of a company having the paid up share capital of less than Rs. 200 lakhs?

38.
Quasi-contract is a

39.
When after the formation of a valid contract, an event happens which makes the performance of contract impossible, the contract becomes

40.
A company that wishes to ensure that no one else can use their logo, basically refers to: