Description : The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these
Last Answer : d)all of these
Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful
Last Answer : c) unpaid seller lien does not revive
Description : In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these
Last Answer : c) tender of price by buyer
Description : The unpaid seller can exercise his right of lien over the goods for a) any lawfull charges b)price of goods c) storage charges d)all of these
Description : Under which of the circumstances unpaid seller loses his right of lien A. By estoppel B. Where seller waived the right of lien C. Where the buyer or his agent lawfully obtains possession of the goods D. Any of the above
Last Answer : D. Any of the above
Description : An unpaid seller is having rights against A. Goods only B. The buyer only C. Both goods and buyer D. None of the above
Last Answer : C. Both goods and buyer
Description : On the payment of price by the buyer ,if the seller fails to deliver the goods ,then the buyer can file a suit for a) refund of price b)interest c) none of this d)both (a )and (b)
Last Answer : a) refund of price
Description : Where the seller wrongfully neglects or refuses to deliver the goods to the buyer, the buyer may sue for: A. Damages for non-delivery B. Damages for non-acceptance C. Specific performance D. Compensation
Last Answer : A. Damages for non-delivery
Description : Where an unpaid seller has made part delivery of the goods he may exercise his Right of _______ A. Return of remaining goods B. Lien on the remaining goods C. Sale to any other person D. None of above
Last Answer : B. Lien on the remaining goods
Description : As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above
Last Answer : C. Both (a) and (b)
Description : Whoever fraudulently retains or willfully secretes or makes away with, or keeps or detains, or when required by an officer of the post office, neglects or refuses to deliver up a) Punishable with ... rupees : c) Punishable with fine which may extend to two hundred rupees d) None of these
Last Answer : a) Punishable with imprisonment for a term which may extend to two years, and shall also be punishable with fine
Description : In case a condition is changed to the status of a warranty ,then the buyer a)loses the right to reject goods b)retains right claim damages only c)both (a) and (b) are true d)both (a) and (b) are false
Last Answer : c)both (a) and (b) are true
Description : A …….. duty is to bring together the buyer and seller and make the sale happen. a. Broker’s b. Factor’s c. Commission agent’s d. Del credere agent’s
Last Answer : a. Broker’s
Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell
Last Answer : d)agreement to sell
Description : A sees an article marked Price Rupees Twenty in B's shop .He offers B 20 for the article. B refuses to sell saying the article is not for sale. Advice A. (a) A cannot force B to sell the article at ` 20 ( ... B to sell the article at ` 20 (c) A can claim damages (d) A can sue B in the Court.
Last Answer : (a) A cannot force B to sell the article at ` 20
Description : In case of ‘sale or return’ the buyer is deemed to have accepted the goods when: A. He does not intimate to the seller that he has rejected them B. He retains without intimating the seller that he has rejected them C. He rejects the goods but does not intimate the seller D. He pledges the goods
Last Answer : A. He does not intimate to the seller that he has rejected them
Description : In case on sale of approval the ownership is transferred to the buyer when he a) adopts the transactions b)accept the goods c) fail to return goods d)in all the above cases
Last Answer : c) fail to return goods
Description : Marketing channel refers to _________________ 1. A physical channel for movement of goods in them from the seller to the buyer 2. A set of firms who handle the physical movement of goods from one ... the process of making a product or service available for use or consumption 5. none of these
Last Answer : Different departments of the producer firm which are associated in ensuring delivery of goods to the buyer
Description : Sales revenues are usually considered earned when a. cash is received from credit sales. b. an order is received. c. goods have been transferred from the seller to the buyer. d. adjusting entries are made.
Last Answer : d. adjusting entries are made.
Description : Freight costs paid by a seller on merchandise sold to customers will cause an increase a. in the selling expense of the buyer. b. in operating expenses for the seller. c. to the cost of goods sold of the seller
Last Answer : b. in operating expenses for the seller.
Description : In case of an agreement to sell, action against a third party for damaging the goods can be taken by: A. The seller B. The buyer C. Both D. None
Last Answer : A. The seller
Description : The seller is required to supply the goods which shall be fit for buyer's purpose where the A. Seller is the sole distributor of goods sold. B. Seller knows the particular purpose of buyer. ... and relies upon seller's skill and judgement. D. Buyer is uneducated and the person of rural background.
Last Answer : B. Seller knows the particular purpose of buyer.
Description : In case of breach of condition, the buyer A. Has no remedy B. Can reject the goods. C. Cannot reject the goods. D. Can get the seller arrested
Last Answer : B. Can reject the goods.
Description : On sellers wrongful refusal to deliver the unascertained goods to the buyer, the buyer can file a suit for recovery of a)goods b)damages c)both (a) and (b) d)none of these
Last Answer : d)none of these
Description : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)
Last Answer : a) specific
Description : where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is a) invalid delivery b)valid and effective c) conditional d)none of this
Last Answer : b)valid and effective
Description : A man holds a certain opinion, has a certain intention, acts in good faith, or fraudulently or uses a particular word in particular sense, or is or was at a specified time conscious of a particular sanction is a- a) Fact b) Evidence c) Document d) Fact in issue
Last Answer : a) Fact
Description : where the seller has expressly reserved his right to bid in the auction to bid in his behalf ,the seller can appoint a) only one bidder b) two bidders c) any number of bidders d) none,seller has no such right
Last Answer : a) only one bidder
Description : Which of the following is not a duty of principal? a. To pay remuneration to agent b. To indemnify the agent against the consequences of all lawful acts. c. Right to be indemnified against consequences of acts done in good faith d. Duty to pay money received.
Last Answer : d. Duty to pay money received.
Description : When the purchasing manager for ABBA seat covers buys material and thread, he considers a variety of factors. Which one of the following is LEAST likely to concern the buyer in the purchase ... )does the supplier also sell to my competitors D)does the price meet the company budget requirements
Last Answer : C)does the supplier also sell to my competitors
Description : A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these
Last Answer : c) warranty
Description : Bilateral monopoly situation is (1) when there are only two sellers of a product (2) when there are only two buyers of a product (3) when there is only one buyer and one seller of a product (4) when there are two buyers and two sellers of a product
Last Answer : (3) when there is only one buyer and one seller of a product Explanation: Bilateral monopoly is a market consisting of a single seller (monopolist) and a single buyer (monopsonist).For example, ... . The equilibrium in such a market cannot be determined by the traditional tools of demand and supply.
Description : Marketing implies "Meeting needs of __________ 1. of the cutomer only 2. of the needs of seller and buyer 3. of the needs of the customers profitability 4. all the above 5. none
Last Answer : of the needs of the customers profitability
Description : What is the process in which a buyer posts its interest in buying a certain quantity of items, and sellers compete for the business by submitting successively lower bids until there is only one seller left? a. B2B marketplace b. Intranet c. Reverse auction d. Internet
Last Answer : c. Reverse auction
Last Answer : when there is only one buyer and one seller of a product
Description : A person who is in a position to pay his debts is called a / an 1. insolvent 2. solvent 3. bankrupt 4. broke 5. None of these
Last Answer : solvent
Description : If there is "buyer beware" is there an equal "seller beware"?
Last Answer : answer:In my opinion, an honest person will do the right thing. The only seller beware advice I know of is to disclose whatever defects they know of or risk being sued. When selling houses, there is ... the seller does not disclose the defects they know about in the house and yard, they can be sued.
Description : Can a real estate agent represent both a seller and buyer?
Last Answer : I think the same agent can legally represent both the buyer and the seller (although it may also depend on the state-state laws vary), but you'd probably want to get your own real estate agent just ... to cost you any more-both real estate agents are paid based on a percentage of the sale price.
Description : If a buyer wishes to buy, is the seller obligated to sell?
Last Answer : If someone wants my dog there is nothing saying I need to give them my dog.
Description : When will eBay collect the money for the seller and deliver the car to the buyer?
Last Answer : It doesn't do either. eBay facilitates the sale, but takes noactive part in it. The seller is responsible for giving clearpayment instructions, and the terms and methods of delivery.
Description : can an REO SELLER/ BANK charge a buyer "per diem" when the buyer is using an FHA loan ?
Last Answer : Yes, a REO seller can charge a buyer per diem interest when the buyer is using an FHA loan. A per diem fee can be around $150 per day.
Description : seller or buyer protects his business or holdings from changing prices and takes action against it. It is known as - (1) defence (2) betting (3) inter-trading (4) mortgage
Last Answer : (1) defence Explanation: It is known as defence, It is a type of resistance against danger, attack, or harm to business or holding. A seller or buyer resorts to defence as a means of protection.
Description : Bilateral monopoly refers to the market situation of - (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : (4) one seller and one buyer Explanation: In a bilateral monopoly there is both a monopoly (a single seller) and monopsony (a single buyer) in the same market. The one supplier tends to act ... buyer looks towards paying a price that is as low as possible. Since both parties have conflicting goals,
Description : Monopoly means - (1) single buyer (2) many sellers (3) single seller (4) many buyers
Last Answer : (3) single seller Explanation: A Monopoly exists when a specific person or enterprise is the only supplier of a particular commodity, This contrasts with a monopsony which relates to a single entity ... lack of economic competition to produce the good or service and a lack of viable substitute goods
Description : Taking back of property by a seller or a lender from the buyer or borrower due to default of payment is termed as ________ A. Reconveyance B. Repossession C. Recurring Billing D. Revalidation
Last Answer : B. Repossession Explanation: Repossession is a term used to denote a financial institution taking back an object that was either used as collateral or rented or leased.
Description : Market with one buyer and one seller 1. Monopoly 2. Bi monopoly 3. Bilateral Monopoly 4. All the above 5. None of these
Last Answer : Bilateral Monopoly
Description : A bilateral monopoly is a market structure consisting of both a monopoly (a single seller) and a ____(a single buyer). 1. Monopsony 2. Biopoly 3. Triple poly 4. multipoly 5. multisony
Last Answer : Monopsony
Description : "Conversion" in sales language means ...... 1) converting a buyer into a seller 2) converting a seller into a buyer 3) converting a prospect into a client 4) All of these
Last Answer : 3) converting a prospect into a client
Description : Market with one buyer and one seller is called A.Monopsony B.Monopoly C.Bilateral Monopoly D.None of the above
Last Answer : C.Bilateral Monopoly
Description : If elasticity of demand is perfectly inelastic, then burden of tax will be on (a) Buyer (b) Seller (c) on both (a) and (b) (d) More on seller
Last Answer : (a) Buyer