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 : Over a cup of coffee in a restaurant, X Invites Y to dinner at his house on a Sunday. Y hires a taxi and reaches X's house at the appointed time , but x fails to perform his promise. Can Y recover any ... as the intention was not to create legal relation. (c) Either (a) or (b) (d) None of these.
Last Answer : (b) No, as the intention was not to create legal relation.
Description : …… is an agent who is appointed to sell goods at a public auction for reward. a. Commission agent b. Broker c. Auctioneer d. Factor
Last Answer : c. Auctioneer
Description : An agent whose authority to bind his principal is almost unlimited. a. General agent b. Universal agent c. Auctioneer d. Factor
Last Answer : b. Universal agent
Description : A person employed by, and acting under the control of the original agent is called……. a. Substitute agent b. Co-agent c. Sub agent d. Universal agent
Last Answer : c. Sub agent
Description : An agent who has authority to do all acts connected with a particular trade, business or employment. a. Commission agent b. General agent c. Del credere agent d. Broker
Last Answer : b. General agent
Description : ……. Agent acts the role of both a guarantor and an agent a. Factor b. Del credere agent c. Special agent d. General agent
Last Answer : b. Del credere agent
Description : A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent
Last Answer : b. Factor
Description : When does apparent authority of an agent arise? a. When the acts with the usual authority of the job b. When the principal gives the agent implied authority to act c. When the agent has actual authority ... represents to a third party that an agent has the authority to act when in fact he doesn't
Last Answer : d. When the principal represents to a third party that an agent has the authority to act when in fact he doesn’t
Description : A person employed to do any act for another person is called. a. Agent b. Principal c. Agency d. Bailor
Last Answer : a. Agent
Description : A order of court restraining a person from doing a particular act, it’s a case of (a) Specific performance (b) Injuction (c) Both (a) & (b) (d) None of the above
Last Answer : (b) Injuction
Description : A contract which is impossible to perform is (a) Voidable (b) Void (c) Illegal (d) Enforceable
Last Answer : (b) Void
Description : In both the cases, devolution of joint liabilities and devolution of joint rights, if a promisor dies, who will perform on behalf of him (a) Other promiser (b) His legal representation (c) Both (a) & (b) (d) None of the above
Last Answer : (c) Both (a) & (b)
Description : If in a contract, the time lapses and if the party fails to perform the contract within specified time the contract becomes (a) Voidable (b) Void (c) Illegal (d) Enforceable in the court
Last Answer : (a) Voidable
Description : …………….. is a one-sided contract in which only one party has to perform his promise or obligation. (a) Void contract (b) Illegal agreement (c) Unilateral contract (d) Bilateral contract
Last Answer : (c) Unilateral contract
Description : A lien which is available only against that property of which the skill and labour have been exercised (a) General Lien (b) Particular Lien (c) Ordinary Lien (d) Both (a) & (b)
Last Answer : (b) Particular Lien
Description : Which one of the following is not a duty of an agent? a. Duty to exercise care and skill b. Duty to take a commission c. Duty to account d. Duty to avoid conflict of interest
Last Answer : b. Duty to take a commission
Description : Which of the following is not a situation of irrecoverable agency a. Where the agency is coupled with interest. b. Where the agency has incurred a personal liability. c. Where the agent has partly exercised his duty. d. Where the agent doesn’t exercised his duty.
Last Answer : d. Where the agent doesn’t exercised his duty.
Description : Which of the following is not a termination of agency by acts of the parties. a. Agreement b. Revocation by principal c. Insolvency d. Revocation by agent
Last Answer : c. Insolvency
Description : Substitute agent is also called a. Co-agent b. Sub agent c. Junior agent d. Duplicate agent
Last Answer : a. Co-agent
Description : Which of the following is not a non-mercantile agent. a. Attorneys b. Insurance agent c. Factor d. Solicitors
Last Answer : c. Factor
Description : Which of the following is not a duty of principal? a. To pay remuneration to agent b. To indemnify the agent against the consequences of all lawful acts. c. Right to be indemnified against consequences of acts done in good faith d. Duty to pay money received.
Last Answer : d. Duty to pay money received.
Description : Which one of the following is not a duty of an agent? a. Right of retainer b. Right of lien c. Right to remuneration d. Right to recover damage
Last Answer : d. Right to recover damage
Description : Which one of the following statement is incorrect? a. An agent create a loyal relationship between a third party and principal. b. All agents are entitled to be paid for their services ... agency relationship may be created through necessity d. An agency relationship may be created through estoppel.
Last Answer : b. All agents are entitled to be paid for their services.
Description : Which of the following statement is incorrect? a. An agency may be terminated by death of either party. b. An agency may be terminated by express agreement. c. An agency agreement can always be terminated by a principal. d. Mental incapability of an agent will terminate the agency relationship.
Last Answer : c. An agency agreement can always be terminated by a principal.
Description : What is undisclosed agency? a. When a third party is not informed of the exercise of the principal and believes the agent is acting on his own behalf. b. When the agent indicates through conduct he is ... in existence. d. Where the third party knows there is a principal but doesn't know his name.
Last Answer : a. When a third party is not informed of the exercise of the principal and believes the agent is acting on his own behalf
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 : Who has the primary responsibility in agency? a. Principal b. Agent c. Bailor d. Bailee
Last Answer : a. Principal
Description : The person delivering the goods for achieving some purpose and returned the same after completion is called a) Bailee b) Pledgee c) Bailor d) Agent
Last Answer : c) Bailor
Description : Pledgor is also known as a) Pawnor b) Pawnee c) Bailor d) Agent
Last Answer : a) Pawnor
Description : Pledgee is also known as a) Pawnee b) Pawnor c) Principal d) Agent
Last Answer : a) Pawnee
Description : A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers
Last Answer : (a) Factors
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 : In Commercial and business agreements, the intention of the parties to create legal relationship is (a) Presumed to exist (b) To be specifically expressed in writing (c) Not relevant or all (d) Not applicable.
Last Answer : (a) Presumed to exist
Description : The Law of Contract is nothing but ............... (a) A Child of Commercial dealing (b) A Child of Religion (c) A Child of day to day Politics (d) A Child of Economics.
Last Answer : (a) A Child of Commercial dealing
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 : Pledge is made for purpose a) Any purpose b) Special purpose c) Common purpose d) None of the above
Last Answer : b) Special purpose
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 of the following statement is/are correct (a) Ordinary damages are recoverable (b) Special damages are recoverable only if parties know about them (c) Remote or indirect damages are not recoverable (d) All of these
Last Answer : (d) All of these
Description : The special damages i.e. the damages which arises due to some special or unusual circumstances (a) Are not recoverable altogether (b) Are illegal being positive in nature (c) Cannot be claimed as a matter of right (d) Can be claimed as a matter of right
Last Answer : (c) Cannot be claimed as a matter of right
Description : An offer made to a (i) Specific person, or (ii) a group of persons is known as (a) Standing offer (b) Specific offer (c) Special offer (d) Separate offer
Last Answer : (b) Specific offer
Description : Which one of the following is the best statement about the Indian Contract Act? (a) It is an exhaustive code containing the entire law of contract. (b) It is an Act to amend certain parts of ... the entire law of contracts being an Act to define and amend certain parts of law relating to contract.
Last Answer : (c) It is an Act to define certain parts of the law relating to contracts and contains only the general principles of contract.
Description : “No one can transfer rights which he himself does not have” that principle carried in a) companies act 2013 b)industrial act c) “nemodat quod non habet” d)none of the above
Last Answer : c) “nemodat quod non habet”
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 : 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 : 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 : Law relating to agency is contained in ……. Chapter of the Indian Contract Act. a. Chapter IX b. Chapter X c. Chapter XI d. Chapter XII
Last Answer : b. Chapter X
Description : Under the Indian Contract Act, the contract of indemnity is restricted to such cases (a) Where the loss promise to be reimbursed is caused by the conduct of the promisor or any other person (b) The loss caused ... accident which does not depend upon conduct of any person (c) Both (a) & (b) (d) None
Last Answer : (b) The loss caused by the any events or accident which does not depend upon conduct of any person
Description : The term” Promise” has been defined in .............. of the Indian Contract Act. (a) Section 2(a) (b) Section 2(b) (c) Section 2(c) (d) Section 2(d)
Last Answer : (b) Section 2(b)