Business Law MCQ Online Assignment

Business Law MCQ Online Assignment for your amity mba bba courses, ignou mba, imt cdl, smu and upes management program. This is important online mcq question answer for various distance learning program.

Q1: An agreement not enforceable by law is said to be void

Answer

Answer: True

Q2: An agreement enforceable by law is contract

Answer

Answer: True

Q3: The communication of a proposal is complete when it comes to the knowledge of the person to whom it is made

Answer

Answer: False

Q4: In order to convert proposal into a promise the acceptance must be conditional and qualified

Answer

Answer: False

Q5: All agreements are contracts – T/F

Answer

Answer: False

Q6: A company is a voluntary association of persons

Answer

Answer: False

Q7: A company is an artificial person having no body or soul

Answer

Answer: True

Q8: A company the only limited shares

Answer

Answer: False

Q9: A company may be with unlimited liabilities

Answer

Answer: False

Q10: On registration a company becomes a distinct legal entity, has perpetual succession and its property is not the property of shareholders

Answer

Answer: True

Q11: The memorandum of association of a company must be printed, divided into paragraphs numbered consequently and signed by the subscribers

Answer

Answer: True

Q12: A company can have any name

Answer

Answer: False

Q13: ‘Goods’ means every kind of movable property including action able claims and money

Answer

Answer: False

Q14: The doctrine of Caveat Emptor has been modified by consumer protection Legislation

Answer

Answer: True

Q15: A lien is the right to hold the property of another as security for the performance of obligation

Answer

Answer: True

Q16: Lien is not a possessory right

Answer

Answer: True

Q17: A contract for sale of Goods may be made in writing or by word of mouth but cannot be implied from the conduct of the parties

Answer

Answer: True

Q18: A contract of sale of goods is through immediate delivery only

Answer

Answer: True

Q19: A negotiable instrument is a document of title

Answer

Answer: True

Q20: A particular form is necessary for delivery of a negotiable instrument

Answer

Answer: True

Q21: A person taking bill of exchange can take a better title than the person from whom he took it

Answer

Answer: False

Q22: A bill of exchange with the words written ‘Not Negotiable’ across it is still negotiable

Answer

Answer: True

Q23: ‘Choser – in- action’ is a term used in Negotiable Instrument

Answer

Answer: True

Q24: A drawer of a dishonored cheque shall be deemed to have committed an offence

Answer

Answer: True

Q25: A blank signed paper give to another party cannot be made bill of exchange

Answer

Answer: False

Q26: A life insurance policy in India can be avoided on the ground of suicide

Answer

Answer: True

Q27: An LIC life insurance policy contains ‘ Suicide Clause’ for the entire currency of the policy

Answer

Answer: True

Q28: There is no difference between assignment and Nomination in so far as insurance is concerned

Answer

Answer: False

Q29: All insurance policies have a surrender value

Answer

Answer: True

Q30: An insurance policy is with nature of contract

Answer

Answer: True

Q31: An arbitration agreement need to be in writing

Answer

Answer: False

Q32: Matrimonial matters can be referred to arbitration in India

Answer

Answer: False

Q33: Parties are free to agree on the place of arbitration

Answer

Answer: True

Q34: An award is in the nature of individual verdict

Answer

Answer: True

Q35: Indian Arbitration law does not comprehensively cover international commercial arbitration

Answer

Answer: False

Q36: Consumer protection Act, 1986 is the judicial machinery for speedy redressal of consumer disputes

Answer

Answer: True

Q37: Consumer Protection Act, 1986 deals only with defects in relation to goods

Answer

Answer: False

Q38: Any affiliation by a consumer in any form is a complaint

Answer

Answer: False

Q39: The provisions in Consumer Protection Act, 1986 are in addition to and not in derogation of any other law for the time being in force

Answer

Answer: True

Q40: There is no provision for the right to consumer education in the consumer Protection Act, 1986

Answer

Answer: False

Q41: An invitation to offer is a good offer

Answer

Answer: False

Q42: A quasi contract is not a contract at all

Answer

Answer: True

Q43: An agreement to agree is a valid contract

Answer

Answer: False

Q44: An attempt at deceit which does not deceive is not fraud

Answer

Answer: False

Q45: A stranger to a consideration cannot maintain a suit

Answer

Answer: True

Q46: A married woman cannot enter into a contract

Answer

Answer: False

Q47: A minor girl can enter into a contract

Answer

Answer: False

Q48: For breach of a contract a party cannot claim compensation for loss or damage

Answer

Answer: True

Q49: A contract for fire insurance is not valid

Answer

Answer: False

Q50: A seller cannot convey a better title to the buyer than he himself has

Answer

Answer: True

Q51: The ownership in goods passes only on delivery

Answer

Answer: True

Q52: The present sale of future goods is an agreement to sell

Answer

Answer: True

Q53: Risk follows ownership

Answer

Answer: True

Q54: An agreement to sell is not a contract of sale

Answer

Answer: False

Q55: Not negotiable crossing of a cheque stops its transferability

Answer

Answer: False

Q56: A bill of exchange cannot be crossed

Answer

Answer: True

Q57: A cheque is a promise to pay

Answer

Answer: True

Q58: A cheque is always payable on demand

Answer

Answer: False

Q59: A promissory note can be made payable to bearer on demand

Answer

Answer: True

Q60: A crossed cheque can be encashed at a counter of the bank

Answer

Answer: False

Q61: The first directors of a company are appointed at its statutory meeting

Answer

Answer: True

Q62: A person applying for shares in a company in fictitious name is liable to be punished with imprisonment

Answer

Answer: True

Q63: A public company can never be converted into a private company

Answer

Answer: True

Q64: A public company can have two or more managing directors

Answer

Answer: True

Q65: A person can be a director of not more than 15 companies

Answer

Answer: True

Q66: Insurable interest is not necessary in all types of insurance contracts

Answer

Answer: False

Q67: Insurance contracts are based on utmost good faith

Answer

Answer: True

Q68: A contract of life insurance is a contract of indemnity

Answer

Answer: True

Q69: The consent of the insurer is necessary for an assignment of a life policy

Answer

Answer: True

Q70: There must be at least three directors in a private company

Answer

Answer: True

Q71: A person of 68 years cannot be appointed a director of a company

Answer

Answer: False

Q72: A company can issue debentures with rights

Answer

Answer: True

Q73: A company can issue shares without voting rights

Answer

Answer: False

Q74: A private company can commence business without obtaining a certificate to commence business

Answer

Answer: False

Q75: A share certificate is conclusive evidence of the holder’s title to shares

Answer

Answer: True

Q76: There cannot be more than one District Consumer Forum in a District

Answer

Answer: True

Q77: There are consumer protection councils at National, State and District levels

Answer

Answer: True

Q78: Deficiency of service is not covered under the Consumer Protection Act

Answer

Answer: False

Q79: The term ‘consumer’ does not include a person who obtains goods for resale

Answer

Answer: True

Q80: There can be a settlement between the parties to the arbitration agreement during arbitral proceedings

Answer

Answer: True

Q81: The arbitral award can be set aside

Answer

Answer: True

Q82: The Arbitral Tribunal can make interim award during the course of arbitration proceedings

Answer

Answer: True

Q83: Agreement enforceable by law is avoid

Answer

Answer: Agreement enforceable by law is contract.

Q84: When proposal is accepted what becomes promise

Answer

Answer: Acceptance

Q85: Proposer is Promisee

Answer

Answer: Proposer is promisor.

Q86: What amounts to acceptance

Answer

Answer: When the person to whom proposal is made signifies assent

Q87: Who is not competent to contract

Answer

Answer: Minor

Q88: Consent is free if obtained by

Answer

Answer: Mistake of law

Q89: If a party to contract commits breach, other is entitled to

Answer

Answer: damages

Q90: Agreement without consideration is valid

Answer

Answer: Agreement without consideration is void.

Q91: All agreements are contracts

Answer

Answer: All contracts are agreements.

Q92: For contract acceptance may be conditional

Answer

Answer: For contract acceptance must be absolute.

Q93: Goods means

Answer

Answer: Movable property only.

Q94: What is goods

Answer

Answer: Share

Q95: Which is not goods

Answer

Answer: Land

Q96: Sale means

Answer

Answer: transfer of ownership

Q97: Stipulation with reference to goods may be

Answer

Answer: condition and warranty

Q98: Which is not kinds of goods under Sale of Goods Act

Answer

Answer: specific goods

Q99: Unpaid seller can not

Answer

Answer: exercise right of lien

Q100: ‘One cannot transfer to other a title better than he has’. This rule is provided in

Answer

Answer: Section 27 of Sale of Goods Act