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

A. The guarantee is not invalid

B. The guarantee is partly invalid

C. The guarantee is invalid

D. None of the above

A. Civil liability

B. Criminal liability

C. Contractual liability

D. None of the above

A. Indemnification from the property of the surety with regard to future transactions

B. Revocation of the continuing guarantee with regard to future transactions

C. The continuing guarantee shall continue in the name of the surety's heirs

D. The continuing guarantee shall be continued by any other person

A. To issue debentures

B. To make loans

C. To remit the payment of any debt due by a director

D. To issue prospectus

A. Rs. 20 lakh

B. Rs. 50 lakh

C. Rs. 75 lakh

D. None of these

A. Managing director

B. Manager

C. Auditor

D. Accountant

A. State Government

B. Central Government

C. Board of Directors

D. Share holders of the Company

A. Is not at all concerned with accounts and audit

B. Is indierctly concerned with accounts and audit

C. Is directly responsible for accounts and audit

D. Can be lawfully punished for manipulation of accounts

A. Section 2 (4)

B. Section 4 (2)

C. Section 3 (1)

D. Section 1 (3)

A. All damages which he may be compelled to pay in any suit in respect of any matter to which the promise applies

B. All costs that he may be compelled to bear in defending any such suit

C. All sums that he may have paid under the terms of any compromise of such suit

D. Damages for liability incurred which is not absolute