Top 150+ Solved Business Laws MCQ Questions Answer
Q. 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 guardian of a minor is responsible for his acts
d. A minor cannot ratify a contract on attaining majority
Q. Anuj agrees to pay Rs10,000 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
Q. A invites B for coffee in Coffee day Restaurant and B accepts the invitation. On the appointed date, B goes there but A does not come. In this case
a. B has no remedy against A.
b. B has to wait for another invitation from A.
c. B can sue A for not honoring his words.
d. A has to invite B again, to keep the promise.
Q. 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
Q. Voidable contract is one
a. Which is lawful.
b. Which is invalid.
c. Which is valid if it is not avoided by the party entitled to do so.
d. Which is unlawful.
Q. Undue influence can be presumed between
a. Guardian and Ward
b. Mother and Daughter
c. Doctor and Patient
d. All of the above
Q. 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 minor does not return the money on his own?
a. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio
b. The amount of loan can be recovered from minor’s property since it is a loan for necessaries
c. The creditor can recover his amount of loan from the minor on his (minor’s) attaining the age of majority
d. The creditor can recover his amount from the parent or guardian of the minor
Q. 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
Q. A sold a stolen car to B which was subsequently recovered by the police form B's possession and he (B) was forced to return the same to the true owner. Here, there is breach of implied condition as to
a. Merchantability
b. Fitness for buyer's purpose
c. Title
d. None of these
Q. 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
Q. 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.
Q. Where the seller wrongfully neglects or refuses to deliver the goods to the buyer, thebuyer may sue for:
a. Damages for non-delivery
b. Damages for non-acceptance
c. Specific performance
d. Compensation
Q. The unpaid seller has right of stoppage of goods in transit only where the buyer
a. Becomes insolvent
b. Refuses to pay price
c. Acts fraudulently
d. All of these
Q. An unpaid seller is having rights against
a. Goods only
b. The buyer only
c. Both goods and buyer
d. None of the above