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

71.
Which form is used by the LLP to file its LLP agreement with the Registrar?

A. Form 2

B. Form 3

C. Form 5

D. Form 7

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72.
Which of the following does not from the bottom of the important information to be incorporated in the memorandum of association as specified in the companies Act, 2013?

A. The name of the company and the state in which this situated

B. The objects for which the company is proposed to be interrupted

C. The rules, tribulations and bye-lows for the internal management of the company

D. The liability of the members of the company, whether limited or unlimited

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73.
Indian citizens have the right to information because of

A. judgement of Supreme Court

B. implementation of international laws by Indian Government

C. all states adopted agree to implement the act

D. a law passed the Parliament of India

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74.
"A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal." Who has made this statement?

A. Lord Lindley

B. Lord Keynes

C. Justice James

D. Haney

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75.
The contract of indemnity is valid under which of the following conditions?
1. there is a promise
2. to save another person from loss or make good the loss
3. which may be caused by the conduct of the promisor himself or by the conduct of any other person
4. the promisor undertakes to make good the loss
5. it covers indemnity for loss caused by human only

A. 2, 3, and 5

B. 1, 3, and 5

C. 2, 3, and 4

D. 1, 2, 3, 4 and 5

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76.
The whole process of the company formation may be divided into three direct stages, the sequence is:

A. Promotion, incorporation by registration, commencement of business

B. Incorporation by registration, commencement of business, promotion

C. Commencement of business, promotion, incorporation by registration

D. Commencement of business, incorporation by registration, promotion

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77.
Where the seller expressly reserves the right of resale in case the buyer makes a default. If there are losses to the seller, on a resale, the seller . . . . . . . .

A. can not claim the same from the buyer as damages

B. can claim the same from the buyer as damages

C. sue the buyer for not purchasing

D. None of the above

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78.
Which of the following are included for trade in services?

A. Computer hardware

B. Textiles

C. Insurance

D. Aerospace

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79.
Which of the following can be put as the rights of surety?

A. Right against the principal debtor

B. Right against the creditor

C. Right against the co-sureties

D. All of the above

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80.
Quorum for a board meeting is

A. $$\frac{1}{3}$$ of total number of directors or 2 directors, whichever is higher

B. $$\frac{1}{2}$$ of total number of directors or 3 directors, whichever is higher

C. $$\frac{1}{2}$$ of total number of directors or 3 directors, whichever is lower

D. None of the above

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

71. Which form is used by the LLP to file its LLP agreement with the Registrar?

Answer & Solution

72. Which of the following does not from the bottom of the important information to be incorporated in the memorandum of association as specified in the companies Act, 2013?

Answer & Solution

73. Indian citizens have the right to information because of

Answer & Solution

74. "A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal." Who has made this statement?

Answer & Solution

Answer & Solution

76. The whole process of the company formation may be divided into three direct stages, the sequence is:

Answer & Solution

77. Where the seller expressly reserves the right of resale in case the buyer makes a default. If there are losses to the seller, on a resale, the seller . . . . . . . .

Answer & Solution

78. Which of the following are included for trade in services?

Answer & Solution

79. Which of the following can be put as the rights of surety?

Answer & Solution

80. Quorum for a board meeting is

Answer & Solution

Read More Section(Legal Aspects of Business)

71.
Which form is used by the LLP to file its LLP agreement with the Registrar?

72.
Which of the following does not from the bottom of the important information to be incorporated in the memorandum of association as specified in the companies Act, 2013?

73.
Indian citizens have the right to information because of

74.
"A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal." Who has made this statement?

76.
The whole process of the company formation may be divided into three direct stages, the sequence is:

77.
Where the seller expressly reserves the right of resale in case the buyer makes a default. If there are losses to the seller, on a resale, the seller . . . . . . . .

78.
Which of the following are included for trade in services?

79.
Which of the following can be put as the rights of surety?

80.
Quorum for a board meeting is