Q40. A contract of agency may be created by an express agreement or by _________
a. implication
b. Implied
c. special
Answer
a. implication
Q41. _________ agency arises from the conduct, situation or relationship of parties.
a. Implied
b. special
c. substituted
Answer
a. Implied
Q42. A _________.agent is a person appointed to do some particular act or enter into some particular contract.
a. special
b. substituted
c. misconducted
Answer
a. special
Q43. Where agent appoints or names another person for being appointed as agent in his place, such person is called a _________agent
a. substituted
b. misconducted
c. indemnify
Answer
a. substituted
Q44. Agent who is guilty of misconduct in the business of agency is not entitled to any remuneration in respect of that part of the business which he has_________
a. misconducted
b. indemnify
c. apparent
Answer
a. misconducted
Q45. The principal is bound to _________agent against the consequences of all lawful acts done by the agent in exercise of authority conferred on him.
a. indemnify
b. apparent
c. 223
Answer
a. indemnify
Q46. The principal is liable for the acts of the agent falling not only within the actual authority but also within the scope of his _________..authority.
a. indemnify
b. apparent
c. None of these
Answer
b. apparent
Q47. Section _________ provides an option to the third parties to either sue the principal or agent or both.
a. 223
b. 225
c. 151
Answer
a. 223
Q48. Where agent acts either without any authority or exceeds his authority, he is deemed to have committed breach of _________of authority in such a case.
a. warranty
b. third parties
c. expiry
Answer
a. warranty
Q49. Agent is only a connecting link between the principal and_________
a. third parties
b. expiry
c. principal
Answer
a. third parties
Q50. When the agency is for a fixed period of time, it comes to an end on the _________of that time.
a. expiry
b. principal
c. None of these
Answer
a. expiry
Q51. Insolvency of the _________terminates the agency
a. expiry
b. principal
c. None of these
Answer
b. principal
Q52. In power of attorney, the person executing the deed is known as the _________and the one in whose favour it is executed is the agent.
a. Principal
b. non-judicial stamp
c. holder in due course
Answer
a. Principal
Q53. The power of attorney is required to be engrossed on _________paper.
a. non-judicial stamp
b. holder in due course
c. Ambiguous
Answer
a. non-judicial stamp
Q54. A _________is one who receives the instrument for value and without any notice as to the defect in the title of the transferor.
a. holder in due course
b. Ambiguous
c. maker
Answer
a. holder in due course
Q55. _________instrument is one which may be construed either as a promissory note or as a bill of exchange.
a. holder in due course
b. Ambiguous
c. maker
Answer
b. Ambiguous
Q56. The promissory note must be signed by the_________, otherwise it is of no effect.
a. Ambiguous
b. maker
c. acceptance
Answer
b. maker
Q57. The _________of a bill is the indication by the drawee of his assent to the order of the drawer.
a. maker
b. acceptance
c. specified
Answer
b. acceptance
Q58. A cheque must be drawn on a _________banker.
a. acceptance
b. specified
c. mirror image
Answer
b. specified
Q59. A cheque in the electronic form means a cheque which contains the exact _________of a paper cheque.
a. specified
b. mirror image
c. holder
Answer
b. mirror image
