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.
If the parties to a contract agree to . . . . . . . . a new contract for it, or to rescind or alter it, the original contract, need not be performed.

A. Alter

B. Amend

C. Substitute

D. Modify

Answer & Solution Discuss in Board Save for Later

92.
'Right of Participation' given to preference shareholders normally implies the right to participate in:

A. Management

B. Voting in General Meeting

C. Divisible surplus profit/Bonus share

D. Surplus assets at the time of winding up of the company

Answer & Solution Discuss in Board Save for Later

93.
Maximum number of partners can be

A. 100

B. 200

C. 50

D. Unlimited

Answer & Solution Discuss in Board Save for Later

94.
A agreed to sell his horse to B, but unknown to both the parties, the horse was dead at the time of agreement, in this case, the contract is

A. void and the parties are discharged from performance

B. void but the parties are not discharged from performance

C. voidable at the option of either party

D. voidable at the option of A only

Answer & Solution Discuss in Board Save for Later

95.
What is the purpose behind the enactment of Sale of Goods Act, 1930?

A. To define the laws relating to the sale of goods

B. To consolidate and amend the laws relating to the sale of goods

C. To consolidate, amend, and define the laws relating to the sale of goods

D. To define and amend the laws relating to the sale of goods

Answer & Solution Discuss in Board Save for Later

96.
Minimum number of partner(s) in LLP

A. 1

B. 2

C. 3

D. 4

Answer & Solution Discuss in Board Save for Later

97.
What do we mean by 'consent' under the Indian Contract Act, 1872?

A. When acceptance of proposal is made by the party to whom the proposal is made

B. When the acceptance is made by another person other than the person to whom the proposal is made

C. When they agree upon the same thing in the same sense

D. When both the parties agree upon a thing in the way it is understood by them

Answer & Solution Discuss in Board Save for Later

98.
Mr. A's property was wrongfully advertised for sale for recovery of government revenue due from B. In order to save his property, Mr. A paid the government dues. In this case, Mr. A is entitled to recover the amount of dues paid by him from Mr. B on the basis of

A. government contract

B. valid contract

C. quasi-contract

D. None of these

Answer & Solution Discuss in Board Save for Later

99.
The liability under section 138 of the Negotiable Instruments Act, 1881, is:

A. Civil liability

B. Criminal liability

C. Both A and B

D. None of the above

Answer & Solution Discuss in Board Save for Later

100.
A company must hold its first Annual General Meeting within a period of:

A. 18 months from the date of its incorporation

B. 18 months from the date of commencement of business

C. 6 months form the date on which it becomes entitled to commence business

D. 12 months from the date of its incorporation

Answer & Solution Discuss in Board Save for Later

1 2 3 4 5 6 7 8 9 10

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

91. If the parties to a contract agree to . . . . . . . . a new contract for it, or to rescind or alter it, the original contract, need not be performed.

Answer & Solution

92. 'Right of Participation' given to preference shareholders normally implies the right to participate in:

Answer & Solution

93. Maximum number of partners can be

Answer & Solution

94. A agreed to sell his horse to B, but unknown to both the parties, the horse was dead at the time of agreement, in this case, the contract is

Answer & Solution

95. What is the purpose behind the enactment of Sale of Goods Act, 1930?

Answer & Solution

96. Minimum number of partner(s) in LLP

Answer & Solution

97. What do we mean by 'consent' under the Indian Contract Act, 1872?

Answer & Solution

98. Mr. A's property was wrongfully advertised for sale for recovery of government revenue due from B. In order to save his property, Mr. A paid the government dues. In this case, Mr. A is entitled to recover the amount of dues paid by him from Mr. B on the basis of

Answer & Solution

99. The liability under section 138 of the Negotiable Instruments Act, 1881, is:

Answer & Solution

100. A company must hold its first Annual General Meeting within a period of:

Answer & Solution

Read More Section(Legal Aspects of Business)

91.
If the parties to a contract agree to . . . . . . . . a new contract for it, or to rescind or alter it, the original contract, need not be performed.

92.
'Right of Participation' given to preference shareholders normally implies the right to participate in:

93.
Maximum number of partners can be

94.
A agreed to sell his horse to B, but unknown to both the parties, the horse was dead at the time of agreement, in this case, the contract is

95.
What is the purpose behind the enactment of Sale of Goods Act, 1930?

96.
Minimum number of partner(s) in LLP

97.
What do we mean by 'consent' under the Indian Contract Act, 1872?

98.
Mr. A's property was wrongfully advertised for sale for recovery of government revenue due from B. In order to save his property, Mr. A paid the government dues. In this case, Mr. A is entitled to recover the amount of dues paid by him from Mr. B on the basis of

99.
The liability under section 138 of the Negotiable Instruments Act, 1881, is:

100.
A company must hold its first Annual General Meeting within a period of: