Description : The term condition is defined in which of the following Section of the Sale of Goods Act. 1930? A. Section 12 (1) B. Section 12 (2) C. Section 12 (3) D. Section 12 (4)
Last Answer : B. Section 12 (2)
Description : Section 2, sub-section______, of the Sale of Goods Act, 1930 defines "Goods" A. 5 B. 7 C. 6 D. None of above
Last Answer : D. None of above
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 : 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 : As per section 2(12), of the Sale of Goods Act, quality of goods includes A. State of goods B. Conditions of goods C. Both (a) and (b) D. None of above
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 : 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 agent having in customary course of business as such agent authority either to sell goods or to consign goods for the purpose of sale or to buy goods or to raise money on the security of goods is called A. Agent B. Mercantile agent C. Partner D. None of above
Last Answer : B. Mercantile agent
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
Description : As per section 2(1)(j) of Consumer Protection Act 1986, 'manufacturer' means a person who (i) makes or manufactures any goods or part thereof (ii) does not make or manufacture any goods but assembles parts thereof made or manufactured by ... B. (i) & (iii) C. (ii) & (ii) D. (i), (ii) & (iii)
Last Answer : D. (i), (ii) & (iii)
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 : 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 : 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 : 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 : The promotion technique for consumers according to which demonstrations and displays of products made at place of sale is called A. point of purchase promotion B. cents off deals C. sales premium D. advertising specialties
Last Answer : A. point of purchase promotion
Description : As per section 2, sub section 7 every kind of moveable property other than actionable Claim and money is called A. Goods B. Future goods C. Both (a) and (b) D. None of above
Last Answer : A. Goods
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 : 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 : 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 : 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 : 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 : The power to declare an area as a sanctuary or national park of central Government is Wildlife (Protection) Act is under: A. Section 38 B. Section 39 C. Section 18 D. Section 27
Last Answer : A. Section 38
Description : The Air Act have A. 56 Section B. 54 Section C. 58 Section D. 62 Section
Last Answer : B. 54 Section
Description : In case of death of a consumer who can prefer compliant under Section 2(1)(b) of Consumer Protection Act 1986 A. his legal heir or representative B. State Government C. consumer association registered under the Companies Act, 1956 D. No one can prefer complaint
Last Answer : A. his legal heir or representative
Description : As per section 2(1)(b) of Consumer Protection Act 1986, "complainant" means A. a consumer B. any consumer association registered under the Companies Act, 1956 C. the Central Government or any State Government, D. All the above
Last Answer : D. All the above
Description : For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six ... . Within a period of 15 days from the date on which it is drawn D. None of the above.
Last Answer : B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier
Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.
Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)
Description : 'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.
Last Answer : A. On presentation
Description : Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means A. Where the indorser does not write anything on the instrument B. Where the indorser signs his name only on ... the indorser writes the name of the person who is directed to pay D. None of the above.
Last Answer : A. Where the indorser does not write anything on the instrument
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 : When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such ... called A. Reciprocal promise B. Consideration for the promise C. Counter offer D. Acceptance.
Last Answer : B. Consideration for the promise
Description : What does Section 17 of the Indian Contract Act, define? A. Coercion B. Undue influence C. Fraud D. Mistake
Last Answer : C. Fraud
Description : Management accounting deals with A. Quantitative information B. Qualitative information C. Both a and b D. None of the above
Last Answer : C. Both a and b
Description : GATT is a: A. Organization B. Method C. Agreement D. Policy
Last Answer : A. Organization
Description : With regard to the WTO, subsidies are covered in two separate international economic law agreements. Which are they? A. The GATT and the Agreement on Subsidies and Countervailing Measures B. ... D. The International Monetary Fund's Articles of Agreement and the European Central Bank's Statute.
Last Answer : A. The GATT and the Agreement on Subsidies and Countervailing Measures
Description : Where is provision made with regard to the WTO’s institutional arrangements? A. In the WTO Agreement B. In the GATT C. In the UN Charter D. In the WTO Agreement on Subsidies and Countervailing Measures
Last Answer : A. In the WTO Agreement
Description : The Bretton Woods Agreement of 1944 established a monetary system based on A. Gold and managed floating exchange rates B. Gold and adjustable pegged exchange rates C. Special Drawing Rights and managed floating exchange rates D. Special Drawing Rights and adjustable pegged exchange rates
Last Answer : B. Gold and adjustable pegged exchange rates
Description : When a seller requires that a dealer not handle competitors' products, the agreement is called a/an A. Exclusive distribution B. Exclusive dealing C. Control criterion D. Dual distribution
Last Answer : D. Dual distribution
Description : Wagering Agreement is a _____________ agreement A. Valid B. Voidable C. Void D. Illegal
Last Answer : C. Void
Description : Which of the following is false with respect to minor entering a contract? A. An agreement with or by a minor is void ab initio B. A minor can be a beneficiary of a contract C. The ... be enforced at the option of the third party D. A minor cannot ratify a contract on attaining majority
Last Answer : C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party
Description : Which is correct? A. Proposal + acceptance = promise B. Promise + consideration = agreement C. Agreement + enforceability = contract D. All the above.
Last Answer : D. All the above.
Description : Reverse Repo transaction means (a) Sale of securities by the holder to the investor with the agreement to purchase them at a predetermined rate and date (b) Sale or purchase of securities by the ... of securities by the holder to the investor with the agreement to purchase them at market driven rate
Last Answer : (b) Sale or purchase of securities by the holder to the investor with the commitment to sell or purchase them at a predetermined rate and date
Description : . If the actual rate of unemployment exceeds to natural rate of unemployment then: A. Actual output of the economy will fall below its potential B. Production will increase more than potential C. Consumption of goods decreases D. Both (a) and (c) above.
Last Answer : D. Both
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 : 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 : Does the WTO apply its framework in exactly the same fashion throughout the world? A. Yes, the WTO applies its framework in exactly the same way throughout the world B. Yes, the WTO ... variation D. No, the WTO makes allowance for variation in the case of economically stronger countries
Last Answer : C. No, the WTO makes allowance for regional variation
Description : The portion of Vedas that deals with rituals is known as _________. A. Mantras B. Brahmanas C. Aranyakas D. Upanishads
Last Answer : A. Mantras
Description : Business ethics deals primarily with A. Social responsibility. B. the pricing of products and services. C. moral obligation. D. being unfair to the competition
Last Answer : C. moral obligation.
Description : National Income ignores: A. Sales of a firm B. Salary of Employees C. Exports of the IT Sector D. Sale of land
Last Answer : D. Sale of land
Description : Which of the following is not a cash inflow? A. Decrease in debtors B. Issue of shares C. Decrease in creditors D. Sale of fixed assets
Last Answer : C. Decrease in creditors