Business Law Quiz - 1

1. "Law" means a set of rules and regulations in the nature of dictatorship.
[A]TRUE
[B]FALSE



2. ”I promise to pay D or Order Rs. 1,500/-“ is a promissory Note
[A]TRUE
[B]FALSE



3. A banker is a mercantile agent.
[A]TRUE
[B]FALSE



4. A Bill of Exchange can be crossed.
[A]TRUE
[B]FALSE



5. A Cheque can be bearer, Order or crossed
[A]TRUE
[B]FALSE



6. A Cheque is a Bill of Exchange.
[A]TRUE
[B]FALSE



7. A Cheque is always payable on demand
[A]TRUE
[B]FALSE



8. A commission agent is generally appointed for selling and buying goods on behalf of his principal
[A]TRUE
[B]FALSE



9. A company can become a partner or can enter into a partnership agreement.
[A]TRUE
[B]FALSE



10. A company is created by law and not by natural birth.
[A]TRUE
[B]FALSE



11. A company may alter the provisions of its memorandum so as to change the place of registered office from one state to another foreign country.
[A]TRUE
[B]FALSE



12. A contract entered into by threatening to detain a corpse is a valid contract.
[A]TRUE
[B]FALSE



13. A contract of sale may either be a sale or an agreement to sell.
[A]TRUE
[B]FALSE



14. A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price
[A]TRUE
[B]FALSE



15. A minor can be admitted as a partner with the consent of all other partners.
[A]TRUE
[B]FALSE