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 : ……………… is made by words written. (a) Express contract (b) Implied contract (c) Tacit contract (d) Unlawful contract
Last Answer : (a) Express contract
Description : Offer implied from conduct of parties or from circumstances of the case is called ........... (a) Implied offer (b) Express offer (c) General offer (d) Specific offer
Last Answer : (a) Implied offer
Description : Voidable contract is one A. Which is lawful. B. Which is invalid. C. Which is valid as long as it is not avoided by the party entitled to do so. D. Which is unlawful.
Last Answer : C. Which is valid as long as it is not avoided by the party entitled to do so.
Description : As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.
Last Answer : C. Quality or fitness for buyer's purpose.
Description : Which of the following types of conditions and warranties are covered by the Sale of Goods Act, 1930? A. Express B. Implied C. Both (a) and (b) D. Only (b)
Last Answer : C. Both (a) and (b)
Description : In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these
Last Answer : C. Parties agreeing upon the same thing in same sense
Description : A Void Contract A. Is void from the very beginning? B. Enforceable at the option of both the parties. C. Enforceable at the option of one party D. Not enforceable in the court of law
Last Answer : D. Not enforceable in the court of law
Description : A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract
Last Answer : b) contract of guarantee
Description : Express contract means a contract made by A. words either spoken or written. B. documents. C. both words and documents. D. all of the above.
Last Answer : D. all of the above.
Description : Where the goods are sold by description, there is an implied condition that the goods shall A. Be fit for buyer's purpose B. Free from any defects C. Correspond with the description D. Free form any encumbrance
Last Answer : C. Correspond with the description
Description : According to implied ' warranty as to quiet possession' it is presumed that the buyer shall have the A. Peaceful possession of the goods. B. Right to use the goods as an owner. C. Both D. None of these
Last Answer : C. Both
Description : When a person sells the goods by infringing the copying or trademark of the others, there is breach of an implied. A. Condition as to title B. Condition as to description C. Conditions as to merchantability D. None of these
Last Answer : A. Condition as to title
Description : A sold a stolen car to B which was subsequently recovered by the police form B's possession and he (B) was forced to return the same to the true owner. Here, there is breach of implied condition as to A. Merchantability B. Fitness for buyer's purpose C. Title D. None of these
Last Answer : C. Title
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 : An organization’s appropriate tone at the top promoting ethical conduct is an example of: A. Ethics sensitivity. B. Ethics incentives. C. Ethical behavior. D. Consequentialist.
Last Answer : C. Ethical behavior.
Description : Which of the following is an example of an area where business ethics apply? A. Conduct of international operations B. Nowhere C. In the personal life of staff D. None of the above
Last Answer : A. Conduct of international operations
Description : Which of the following does the term Corporate Social Responsibility relate to? A. Environmental practice B. Ethical conduct C. Human rights and employee relations D. Community investment E. All of the above F. None of the above
Last Answer : E. All of the above
Description : The process of evaluating a firm's________________ is to determine its effect on a society. A. operating procedures B. code of conduct C. Policies compliance D. All of the above
Last Answer : B. code of conduct
Description : An organization’s appropriate tone at the top promoting ethical conduct is an example of: A. Ethics sensitivity. B. Ethics incentives. C. Ethical behavior. D. Consequentialist
Description : Ellen decided to conduct an experiment in her mall's car park to see if shoppers would respond to a lower parking price to park in some of the under-utilized sections of the car park. Which of ... research Ellen is using? A. Exploratory B. Causal C. Descriptive D. Investigative E. Behavioral
Last Answer : B. Causal
Description : An offer made by words spoken or written is called: (a) Implied offer (b) Express offer (c) Formal agreement (d) Informal agreement
Last Answer : (b) Express offer
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 : Which statements are legitimate challenges to utilitarian ethical theory? A. The end may justify the means. B. There is no consensus among utilitarians on how to measure and determine the overall good. C. It ... more relativistic accounts of the good. E. All of the above. F. None of the above.
Last Answer : E. All of the above.
Description : _______ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. A. Marketing management B. Forecasting C. Segmentation D. Targeting E. Distribution
Last Answer : A. Marketing management
Description : Notice of dishonour must be given A. To the drawer and drawee only B. To the drawer, acceptor and endorser(s) only C. To all the parties liable on the instrument or to their duly ... agent D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent
Last Answer : D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent
Description : The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above
Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof
Description : Identical offers made by two parties to each other, in ignorance of each other’s offer are known as A. Counter Offer B. Cross-Offers C. Standing Offer D. None of the above
Last Answer : B. Cross-Offers
Description : Undue influence can be exercised only between the parties who are: A. Related to each other B. Not related to each other C. Friendly to each other
Last Answer : A. Related to each other
Description : Where the transfer of the property in the goods is to take place at a future time or subject to some condition, then such contract is called: A. An agreement to sell B. A contract to Sale C. Future Contract D. Conditional contract
Last Answer : A. An agreement to sell
Description : The goods identified and agreed upon at the time a contract of sale is made are called A. Ordinary goods B. Specified goods C. Scheduled goods D. None of above
Last Answer : B. Specified goods
Description : A contract to perform a promise or discharge the liability of a third party is called— A. Contract of indemnity B. Contract of agency C. Contract of guarantee D. Contract of warranty
Last Answer : C. Contract of guarantee
Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity
Last Answer : B. Bailment
Description : The Bailment of goods as security for payment of a debt or performance of a promise is called: A. Pledge B. Bailment C. Contingent contract D. Agreement
Last Answer : A. Pledge
Description : Thomas Jefferson’s belief that government can do only what the Constitution specifically says is known as loose construction. implied powers. necessary and proper powers. express powers.?
Last Answer : Implied Powers
Description : Partnership may come into existence by– (A) The operation of law (B) An express agreement only (C) An express or implied agreement only (D) Inheritance of property
Last Answer : Answer: An express or implied agreement only
Description : The major type(s) of standard warranty(ies) that are used in the business environment is(are): 1. express 2. implied 3. negotiated 4. a and b
Last Answer : 4. a and b
Description : Management assertions are a. Stated in the footnotes to the financial statements. b. Provided to the auditor in the assertions letter, but are not disclosed in the financial ... the accounts in the financial statements. d. Explicitly expressed representations about the financial statements
Last Answer : Implied or express representations about the accounts in the financial statements.
Description : The consumers have an implied_____________ with the corporations A. Quasi Contract B. Social Contract C. Legal Contract D. None of the above
Last Answer : B. Social Contract
Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.
Last Answer : B. The classical model.
Description : A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing
Last Answer : C. Perceived-value pricing
Description : Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment
Last Answer : A. Exclusive assortment
Description : Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal
Last Answer : A. Provisional
Description : A stipulation in contract of sale with reference to goods which are the subject there of may be A. A condition B. A warranty C. Both (a) and (b) D. None of above
Description : According section 5(2) subject to provision of any law for the time being in force a contract of sale may be A. Made in writing B. By words of mouth C. Partly in writing or partly in words of mouth D. All above ways
Last Answer : A. Made in writing
Description : A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these
Last Answer : C. Collateral to the main purpose of contract of sale.
Description : A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these
Last Answer : A. Condition