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Friday, December 16, 2011

Business Law Quiz - 3

1. Agreement is defined as a contract at its inception.
[A]TRUE
[B]FALSE



2. All contracts are agreements and all agreements are contracts.
[A]TRUE
[B]FALSE



3. All money payable by any member to the company under the memorandum or articles shall be debt from time to the company.
[A]TRUE
[B]FALSE



4. All the partners can carry on the business of the firm or one of the partner’s can act for all of them
[A]TRUE
[B]FALSE



5. Alteration of memorandum or articles etc. to be noted in every copy.
[A]TRUE
[B]FALSE



6. Ambiguous agreements are void.
[A]TRUE
[B]FALSE



7. An agency can be terminated after lapse of time or completion of the work.
[A]TRUE
[B]FALSE



8. An agency cannot be terminated at all. In other words a contract of agency is perpetual.
[A]TRUE
[B]FALSE



9. An agent does not have the right to enter into contracts with third parties
[A]TRUE
[B]FALSE



10. An agent does not have the right to stop goods in transit.
[A]TRUE
[B]FALSE



11. An agreement enforceable by law is a contract.
[A]TRUE
[B]FALSE



12. An agreement is defined as a contract at its inception.
[A]TRUE
[B]FALSE



13. An agreement should be certain and unambiguous.
[A]TRUE
[B]FALSE



14. An agreement to sell takes place in the case of existing goods or specific goods.
[A]TRUE
[B]FALSE



15. An agreement without consideration is void.
[A]TRUE
[B]FALSE



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