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

91.
Whose association can be taken as an cartel?

A. Supplier

B. Distributor

C. Trader

D. All of these

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92.
Share capital of a company may be reduced by:

A. a resolution of the board of directors

B. an ordinary resolution

C. a special resolution and permission from company Law Board

D. permission of the company Law Board

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93.
Which of the following law contains law relating to promissory note, bill of exchange and cheque?

A. Negotiable Instrument Act

B. Reserve Bank of India Act

C. Contract Act

D. All of the above

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94.
The outsiders dealing with the company in good faith have the right to presume that the company has duly completed all the formalities, is a principle of:

A. Good faith

B. Indoor Management

C. Constructive notice

D. Ultra vires

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95.
When a party liable under a negotiable instrument, makes payment in due course, the instrument is

A. discharged

B. released

C. altered

D. None of these

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96.
Which among the following act, is not amended in Information Technology Act, 2000?

A. The Banker's Books Evidence Act, 1891

B. BSNL IT Policy

C. RBI Act, 1934

D. The Indian Evidence Act, 1872

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97.
When two or more existing companies go into liquidation and a new company is formed to take over their business it is called:

A. Amalgamation

B. Absorption

C. External reconstruction

D. Liquidator

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98.
Unpaid seller is a seller who has not been

A. paid whole of the price

B. tendered whole of the price

C. Both A and B

D. Neither A nor B

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99.
The first meeting of the company after incorporation is

A. AGM

B. extra ordinary meeting

C. statutory meeting

D. class meeting

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100.
If a person who is incapable of entering into a contract is supplied with necessaries by another person, then the latter shall:

A. be reimbursed for such supplies by a relative of the incapable person and that relative must be capable of contracting

B. be reimbursed for such supplies from the property of such incapable person

C. be reimbursed for such supplies from the property of such incapable person

D. not entitled to be reimbursed at all

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

91. Whose association can be taken as an cartel?

Answer & Solution

92. Share capital of a company may be reduced by:

Answer & Solution

93. Which of the following law contains law relating to promissory note, bill of exchange and cheque?

Answer & Solution

94. The outsiders dealing with the company in good faith have the right to presume that the company has duly completed all the formalities, is a principle of:

Answer & Solution

95. When a party liable under a negotiable instrument, makes payment in due course, the instrument is

Answer & Solution

96. Which among the following act, is not amended in Information Technology Act, 2000?

Answer & Solution

97. When two or more existing companies go into liquidation and a new company is formed to take over their business it is called:

Answer & Solution

98. Unpaid seller is a seller who has not been

Answer & Solution

99. The first meeting of the company after incorporation is

Answer & Solution

100. If a person who is incapable of entering into a contract is supplied with necessaries by another person, then the latter shall:

Answer & Solution

Read More Section(Legal Aspects of Business)

91.
Whose association can be taken as an cartel?

92.
Share capital of a company may be reduced by:

93.
Which of the following law contains law relating to promissory note, bill of exchange and cheque?

94.
The outsiders dealing with the company in good faith have the right to presume that the company has duly completed all the formalities, is a principle of:

95.
When a party liable under a negotiable instrument, makes payment in due course, the instrument is

96.
Which among the following act, is not amended in Information Technology Act, 2000?

97.
When two or more existing companies go into liquidation and a new company is formed to take over their business it is called:

98.
Unpaid seller is a seller who has not been

99.
The first meeting of the company after incorporation is

100.
If a person who is incapable of entering into a contract is supplied with necessaries by another person, then the latter shall: