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Monday, December 19, 2011

Business Law Quiz - 8

1. No company shall be registered by a name which, in the opinion of the central government is undesirable.
[A]TRUE
[B]FALSE



2. No consent is required to be obtained from other partners for retirement of a partner.
[A]TRUE
[B]FALSE



3. No consideration is required in formal contracts
[A]TRUE
[B]FALSE



4. No consideration is required in formal contracts.
[A]TRUE
[B]FALSE



5. Partners can decide their rights and liabilities in the partnership deed.
[A]TRUE
[B]FALSE



6. Partnership has to be perpetual and cannot be at will of the partners
[A]TRUE
[B]FALSE



7. Partnership is a species (extension) of law of agency
[A]TRUE
[B]FALSE



8. Partnership is an association of three or more persons formed to run the business and share the profits earned in the business.
[A]TRUE
[B]FALSE



9. Partnership is nothing but a psychological relationship existing between the partners.
[A]TRUE
[B]FALSE



10. Persons who have entered into partnership with one another are called individually partners and they are collectively "a firm"
[A]TRUE
[B]FALSE



11. Presumptions do not apply where an instrument is obtained by fraud, offence or illegal consideration.
[A]TRUE
[B]FALSE



12. Publication of prospectus is not at all necessary for the companies for raising the capital from public.
[A]TRUE
[B]FALSE



13. Quantum Meruit means, “as much as earned”.
[A]TRUE
[B]FALSE



14. Railway or S.T. Receipts, Dividend, Warrants, Railway Bonds are not Negotiable Instrument.
[A]TRUE
[B]FALSE



15. Ratification can be only for a part of the act of the agent.
[A]TRUE
[B]FALSE



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