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
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 : 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 : 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 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 : 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 : 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 : 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 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 : 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 : Section 4, of the Sale of Goods Act 1930, deals with A. Sale B. Agreement to sell C. Both (a) and (b) D. None of above
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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : Warranty is a contract means a) collateral to main purpose b)condition to main purpose c) representation to main purpose d)none of the above
Last Answer : a) collateral to main purpose
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 : 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 : Stipulation VS condition?
Last Answer : answer:It depends on usage. One can use stipulation as a form of condition, but in technical uses one essentially stipulates a condition. To stipulate is to lay down a set of requirements, demands or limitations, ... he may live in the house, on the condition that he is married by the age of 16.
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 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 : 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 : 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 : Arrange the following Acts in the order in which they came into force. (i) The Monopolies Restrictive Trade Practices Act (ii) Indian Contract Act (iii) The Sale of Goods Act (iv) The Foreign Exchange Management Act A. (il), (iii), (i ... (ii) C. (i), (ii), (iii), (iv) D. (iv), (iii), (ii), (i)
Last Answer : B. (iii), (i), (iv) and (ii)
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 : 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 : 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 : 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 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 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 : 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 minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the ... the age of majority D. The creditor can recover his amount from the parent or guardian of the minor
Last Answer : A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio
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 : Where a contract has to be inferred from the conduct of parties, it is called A. Express contract. B. Implied contract. C. Tacit contract. D. Unlawful contract
Last Answer : B. Implied contract.
Description : Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal
Last Answer : B. Void
Description : Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for ... to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.
Last Answer : B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun