Top 50+ Solved Business Law MCQ Questions Answer
Q. A petient in a lunatic Asylum who is at intervals of sound mind :
a. May not contract.
b. May contract.
c. May contact during those intervals when he is of sound mind.
d. May contract only after he becomes completely of sound mind .
Q. Which is not the correct statement ?
a. If consent is the result of coercion, the agreement is
b. If a party is minor, the agreement is void .
c. If the object of an agreement is unlawful, the agreement is void.
d. If the consideration of an agreement is unlawful, the agreement
Q. What is the purpose behind the enactment of Sale of Goods Act, 1930?
a. To define the laws relating to the sale of goods
b. To consolidate and amend the laws relating to the sale of goods
c. To consolidate, amend and define the laws relating to the sale of goods
d. To define and amend the laws relating to the sale of goods
Q. Section 2(1) of Sale of Goods Act defines ‘buyer’ as:
a. Person who buys goods and services
b. Person who agrees to buy goods
c. Person who buys or agrees to buy goods
d. Person who buys or agrees to buy goods and services
Q. Before the enactment of Sale of Goods Act, the provisions regarding Sale of
a. Indian Contract Act, 1872
b. Indian Registration Act, 1908
c. Transfer of Property Act, 1882
d. Indian Partnership Act, 1932
Q. Which of the following cannot be said to be included in the term “goods” defined under section 2(7) of the Sale of Goods
a. Stock
b. Shares
c. Growing crops
d. Actionable claims
Q. The voluntary transfer of possession from one person to another is called
a. Transfer
b. change of possession
c. Delivery
d. None of above
Q. Which of the following is not the right of an unpaid seller under Sale of Goods Act, 1930:
a. Right of lien on goods for the price while the goods are in possession of seller.
b. Right of stopping the goods in transit, in case of insolvency of buyer
c. Right of resale as limited by the Act
d. Right of withholding delivery where the property in the goods has passed to the buyer
Q. Future goods means 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 the above
Q. Which of the following is not a negotiable instrument
a. Bill of exchange and cheque
b. Postal Order & Currency note
c. Promissory note and cheque
d. Promissory note & Bill of exchange
Q. Features of Negotiable instruments are -
a. Written and signed
b. Recovery
c. Freely transferable
d. All of the above
Q. Holder in due course means any person-
a. Drawing the instrument
b. who for consideration became the possession of promissory note
c. to whom order the money is directed to paid
d. none of the Above
Q. Cheque can be of types and crossing of cheques can be of types.
a. three, two
b. two, two
c. two, three
d. three, three
Q. What are the limits of number of members in a Private Company?
a. Fifty
b. Seven
c. Twenty
d. Two hundred