Description : A bidder at an auction sale can withdraw his bid a) before fall on hammer b)any time during auction c) before payment of price d)none of these
Last Answer : a) before fall on hammer
Description : Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are example of (a) express contract. (b) implied contract. (c) tacit contract. (d) unlawful contract.
Last Answer : (b) implied contract.
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 : which of the following modes of delivery of goods is considered effective for a valid contract of sale? a) constructive delivery b)symbolic delivery c) actual delivery d)all of this
Last Answer : c) actual delivery
Description : where in an auction sale, the seller appoints more than one bidder, the sale is a) illegal b)void c)conditional d)voidable
Last Answer : d)voidable
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 : …… is an agent who is appointed to sell goods at a public auction for reward. a. Commission agent b. Broker c. Auctioneer d. Factor
Last Answer : c. Auctioneer
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 : 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 : Delivering the keys of a godown in which goods sold are stored amounts to a) delivery by attornment b)symbolic delivery c) actual delivery d)none of these
Last Answer : b)symbolic delivery
Description : The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment
Last Answer : a) Pledge
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 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 : The merchantable in sec 14(2)defined in a) Indian contract act b) sale of goods act c) English sale of goods act d) none if this
Last Answer : c) English sale of goods act
Description : A contract for the sale of “future goods is “ a) agreement to sell b)sale c) void d)voidable
Last Answer : a) agreement to sell
Description : The term goods for the purpose of sale of goods act does not include a) actionable b)money c) immovable property d)all of these
Last Answer : d)all of these
Description : The sale of goods act 1930 deals with the a) movable goods only b)period of contract c) immovable goods d)none of the above
Last Answer : a) movable goods only
Description : Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above
Last Answer : d) All of the above
Description : Which one of the following falls into the category of offer? (a) Newspaper advertisement regarding sale. (b) Display of goods by a shopkeeper in his window with prices marked on them (c) An advertisement for a concert. (d) Announcement of reward to the public.
Last Answer : (d) Announcement of reward to the public.
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 : A contract is made where: (a) A buys a book from a shop (b) X bids at a public auction. (c) X agrees with Y to discover a treasure by magic (d) Z agrees to attend the birthday party of his friend
Last Answer : (a) A buys a book from a shop
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 : 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
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 : Goods displayed in a Shop window with a price label will amount to: (a) Offer (b) Acceptance of offer (c) Invitation to offer (d) Counter offer
Last Answer : (c) Invitation to offer
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 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 : The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)
Last Answer : a) ownership of goods
Description : The property in the goods means the a) possession of goods b)custody of goods c) ownership of goods d)both(a) and (b)
Last Answer : c) ownership of goods
Description : What is the right of the bailee against the goods (a) Owner (b) Possessor (c) Bailee can sell those goods (d) Both (a) & (b)
Last Answer : (b) Possessor
Description : A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)
Last Answer : (d) Both (b) & (c)
Description : which of the following is not an implied conditions in a contract of sale? a) condition as to description b)condition as to title c) condition as to free from encumbrance d)condition as to sample
Last Answer : c) condition as to free from encumbrance
Description : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.
Last Answer : b)sale or agreement
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 : Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use
Last Answer : c) Sale
Description : A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purpose; except: a) Sale b) Transportation c) Storage d) Lease
Last Answer : d) Lease
Description : In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods
Last Answer : c) has an option to buy the goods
Description : A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent
Last Answer : b. Factor
Description : Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee
Last Answer : c) Lien
Description : Choose the correct one; Duties of bailor a) To return the goods b) To disclose known faults c) Not to set up an adverse title d) To return any accretion to the goods
Last Answer : b) To disclose known faults
Description : What is the subject matter of bailment a) Movable goods b) Immovable goods c) Perishable goods d) All of the above
Last Answer : a) Movable goods
Description : The person whom delivered the goods for bailment process is called a) Bailee b) Bailor c) Pawnor d) Pawnee
Last Answer : a) Bailee
Description : The person delivering the goods for achieving some purpose and returned the same after completion is called a) Bailee b) Pledgee c) Bailor d) Agent
Last Answer : c) Bailor
Description : A person who finds the goods belonging to others and takes them into his possession is called a) Finder of goods b) Bailor c) Pledgor d) Pawnee
Last Answer : c) Pledgor
Description : The transfer of goods from a bailor to a must actually take place Landlord Bailee Lease Tenant
Last Answer : Bailee
Description : In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary
Last Answer : d) Actual ownership of goods is necessary
Description : Any one in possession of goods can create bailment relationship and becomes: a) Bailee b) Bailor c) Executor d) Administrator
Last Answer : b) Bailor
Description : A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers
Last Answer : (a) Factors
Description : Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above
Last Answer : (d) None of the above