Top 150+ Solved Business Laws MCQ Questions Answer
Q. Alteration of objects clause of MOA of a company requires
a. Special resolution
b. Approval of CLB
c. Ordinary resolution
d. Approval of ROC
Q. Memorandum of association governs the relationship of the company:
a. With the outside world
b. With the shareholders
c. With other companies
d. of the above
Q. The association clause of a public company must be signed by:
a. 10 persons
b. 12 persons
c. 7 persons
d. 5 persons
Q. Quorum should be present at the
a. Commencement of meeting
b. Middle of the meeting
c. End of the meeting
d. Any time during meeting.
Q. When a private company is converted into public company. In which form it should be
a. Schedule III
b. Schedule IV
c. Schedule VI
d. None of these
Q. The undertaking contained in a promissory note, to pay a certain sum of money is
a. Conditional
b. Unconditional
c. May be conditional or unconditional depending upon the circumstances
d. None of the above.
Q. A bill of exchange contains a/an
a. Unconditional undertaking
b. Unconditional order
c. Conditional undertaking
d. Conditional order.
Q. Cheque is a
a. Promissory note
b. Bill of exchange
c. Both (a) and (b) above
d. None of the above.
Q. The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to
a. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof
b. The payment by a bank on a negotiable instrument after due verification of the instrument
c. The bargaining between the parties to a negotiable instrument
d. All of the above.
Q. If an instrument may be construed either as a promissory note or bill of exchange, it is
a. A valid instrument
b. An ambiguous instrument
c. A returnable instrument
d. None of the above.
Q. When an endorser willing to transfer to an endorsee only a part of the amount of the instrument, then it is which type of endorsement?
a. Restrictive endorsement
b. Conditional endorsement
c. Special endorsement
d. Partial endorsement
Q. If a cheque is refused by the State Bank of India (SBI) due to inadequacy of funds for thecheque to clear, then it is said to be
a. Bounced cheque
b. Cancelled cheque
c. Either a or b
d. Both a and b
Q. If the words "not negotiable" are used with special crossing in a cheque, the cheque is
a. Not transferable
b. Transferable
c. Negotiable under certain circumstances
d. None of the above