Description : No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment
Last Answer : b) Gratuitous bailment
Description : A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter
Last Answer : b) On the expiry of the period
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 : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer
Last Answer : a. Agency
Description : Which of the following is not an example of bailment a) A coat check b) Valet parking c) Dry cleaning d) A gift you give someone for their birthday
Last Answer : d) A gift you give someone for their birthday
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 incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor
Last Answer : c) Termination of bailment
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 : What is the essence of the bailment a) Transfer of ownership b) Transfer of possession c) A and B d) None of these
Last Answer : b) Transfer of possession
Description : The term bailment is derived from a French word “bailor”, which means: a) Depends b) Deliver c) Selling d) Buying
Last Answer : b) Deliver
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 : A bailment in which only the person who borrows and article gets the benefits is known as: a) Bailment for the sole benefits of the bailee b) Bailment for the sole benefits of the bailor c) Mutual benefit bailment d) Constructive bailment
Last Answer : a) Bailment for the sole benefits of the bailee
Description : A bailment for the sole benefit of a bailer usually results in ------------ a) Borrowing /lending transactions b) Spring transaction c) Declarative transaction d) Autonomous transaction
Last Answer : a) Borrowing /lending transactions
Description : The law concerning bailment provides for certain rights and duties of both bailor and bailee, depending on the: a) Amount of transaction b) Nature of business c) Kind of bailment d) Competency in the market
Last Answer : c) Kind of bailment
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 : An agreement reached between a bailer and a bailee is a) Mortgage b) Bailout c) Bailment d) Codicil
Last Answer : c) Bailment
Description : A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease
Last Answer : a) Bailment
Description : Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution
Last Answer : a) Personal affairs
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
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 : 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 : 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 : 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 : An auction sale is complete on the a) fall of hammer b)delivery of goods c) payment of price d)both (b) and (c)
Last Answer : a) fall of hammer
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 : 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 : 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 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 : 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 : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.
Last Answer : b)sale or agreement
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 : 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 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 : 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 : 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 : 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 : Which of the following is not a type of commercial agents? a. Banker b. Special agent c. Broker d. Commission agent
Last Answer : b. Special agent
Description : Which one is not the duties of bailee (a) The bailee must take care of goods as of his goods. (b) The bailee cannot use bailor’s goods in an unauthorised manner. (c) The bailee should return the goods without demand on the expiry of the time period. (d) He can set up adverse title to the goods.
Last Answer : (d) He can set up adverse title to the goods.
Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor
Last Answer : d) Creditor
Description : The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor
Last Answer : a) A surety
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 : When a guarantee given for an existing debt or obligation it is known as a) Specific guarantee b) fidelity guarantee c) Retrospective guarantee d) continuing guarantee
Last Answer : a) Specific guarantee
Description : _______ is a guarantee given for the good conduct or honesty of a person employed in a particular office. a) Fidelity guarantee b) Continuing Guarantee c) Retrospective guarantee d) specific guarantee
Last Answer : a) Fidelity guarantee
Description : A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these
Last Answer : a) By notice
Description : When a guarantee extends to a single transactions or debt it is called a) Retrospective guarantee b) Specific Guarantee c) Prospective guarantee d) Fidelity guarantee
Last Answer : b) Specific Guarantee
Description : The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these
Last Answer : b) Principal Debtor