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 : 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 : 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 : he unpaid seller has right of stoppage of goods in transit only where the buyer A. Become insolvent B. Refuses to pay price C. Acts fraudulently D. All of these
Last Answer : A. Become insolvent
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 : 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 ‘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 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 : 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 : _______________ doctrine places the responsibility of product safety on corporations A. Buyer beware B. Seller beware C. Seller take care D. Buyer and seller take care
Last Answer : C. Seller take care
Description : Caveat Emptor means A. Let the buyer beware B. Let the seller beware C. Let the government beware D. None of the above
Last Answer : A. Let the buyer beware
Description : Delivery of key of the warehouse by the seller to the buyer will amount to: A. Symbolic Delivery B. Actual Delivery C. Constructive Delivery D. No delivery
Last Answer : A. Symbolic Delivery
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 : 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 : 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 : Seller has right of resale where A. Goods are perishable B. Seller has reserved such right. C. Seller gives notice D. All of these.
Last Answer : D. All of these.
Description : Future goods mean goods to be manufactured or produced or acquired by the seller A. In future prescribed time B. After making of contract C. Before making of contract D. None of above
Last Answer : B. After making of contract
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 : 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 : 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 : A 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 : defence
Description : The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above
Last Answer : B. Guarantee amount
Description : The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above
Last Answer : A. Unpaid value of shares
Description : Systematic blend of personal selling, sales promotion, advertising and public relations to communicate customer value is called A. promotion mix B. marketing communication mix C. strategic buyer behavior mix D. both a and b
Last Answer : D. both a and b
Description : Object of the central council is A. The right to be protected against the marketing of goods which are hazardous to life and property B. The right to informed about the quality, quantity ... to be assured that consumer interests will receive due consideration appropriate fora E. All the above
Last Answer : E. All the above
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 : In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. A. Group B. Mass C. General D. Segmented E. Differentiated
Last Answer : B. Mass
Description : The principle of “let the buyer be aware “ is based on the _____________theory A. Capitalist B. Consumer C. Free-market D. None of the above
Last Answer : C. Free-market
Description : Which of the following is NOT considered to be an objective associated with the use of sales promotions? A. Change buyer attitudes B. Increase volume of individual purchases C. Prompt buyers into trial purchase D. Product improvement
Last Answer : A. Change buyer attitudes
Description : A housewife requests a new treadmill for her birthday. With respect to consumer decision roles, which role is the housewife currently playing? A. Initiator B. Influencer C. Decider D. Buyer E. Gatekeeper
Last Answer : A. Initiator
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
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 : 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 : 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 : 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
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 : 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 : 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 : 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 : 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.