Business Law Quiz - 7

1. In a Government company the Central or the State Government hold not less than 51% of the paid-up share capital.
[A]TRUE
[B]FALSE



2. In a Partnership Deed, name of the firm need not be included.
[A]TRUE
[B]FALSE



3. In a sale the buyer immediately becomes an owner.
[A]TRUE
[B]FALSE



4. In case of Bill of Exchange, the notice of dishonour is essential.
[A]TRUE
[B]FALSE



5. In case the object of an agency becomes unlawful, the agency can not be terminated.
[A]TRUE
[B]FALSE



6. In formal contracts consideration is not required.
[A]TRUE
[B]FALSE



7. Invitation to offer is an offer.
[A]TRUE
[B]FALSE



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



9. Legal controls, restrictions on public companies are more and strict.
[A]TRUE
[B]FALSE



10. Loss of profits is an example of liquidated damages.
[A]TRUE
[B]FALSE



11. Memorandum is adopted to control internal operations of the company.
[A]TRUE
[B]FALSE



12. Memorandum of a company is a primary and supreme document of the company.
[A]TRUE
[B]FALSE



13. Mental acceptance amounts to an acceptance.
[A]TRUE
[B]FALSE



14. Minor do not have the right of access to and to inspect and copy any of the books of the firm
[A]TRUE
[B]FALSE



15. Money order, Postal order, Share Certificates, Deposit receipts and such other documents are Negotiable Instruments.
[A]TRUE
[B]FALSE