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Saturday, December 17, 2011

Business Law Quiz - 6

1. Even if all the members of a company are citizens of India, the company does not become a citizen of India.
[A]TRUE
[B]FALSE



2. Even if the subject matter of the contract is destroyed, the contract has to be performed.
[A]TRUE
[B]FALSE



3. Existing company means any company registered under any of the previous companies acts.
[A]TRUE
[B]FALSE



4. Existing goods are those goods, which are owned and possessed by the seller at the time of sale.
[A]TRUE
[B]FALSE



5. Express conditions and warranties are those which have been agreed upon by the parties at the time of the contract but they do not form a part of the contract.
[A]TRUE
[B]FALSE



6. Express or implied authority is conferred on the agent by the principal.
[A]TRUE
[B]FALSE



7. Free Negotiability is an important characteristics of Negotiable Instrument
[A]TRUE
[B]FALSE



8. General agents are the persons who enjoy a general authority to do everything in the course of their agency.
[A]TRUE
[B]FALSE



9. Goods which become ascertained subsequent to the formation of the contract of sale are Ascertained Goods.
[A]TRUE
[B]FALSE



10. I promise to pay Mr. Luies or Order Rs.1,500/- is a promissory note.
[A]TRUE
[B]FALSE



11. I promise to pay Mr.John Rs.500/- seven days after my marriage with Miss Lucy is a promissory note.
[A]TRUE
[B]FALSE



12. If all the members of a company are married, the company would not be a married person.
[A]TRUE
[B]FALSE



13. If mistake is unilateral the contract cannot be enforced.
[A]TRUE
[B]FALSE



14. If one of the parties to the contract dies the contract becomes void.
[A]TRUE
[B]FALSE



15. In a contract of sale goods can be exchanged for goods.
[A]TRUE
[B]FALSE



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