Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. The Sale of Goods Act, 1930 deals with —
a. Cash Sales
b. Credit Sales
c. Hire Purchase Sales
d. Sale of Goods in general
Q. Conditions are stipulations
a. essential to the main purpose of the contract
b. collateral to the main purpose of the contract
c. either 'a' or 'b'
d. neither 'a' nor 'b'
Q. A warranty is stipulation
a. essential to the main purpose of the contract
b. collateral to the main purpose of the contract
c. very important to the seller
d. very important to the buyer
Q. Breach of a condition gives rise to
a. claim for damages
b. a right to treat the contract as repudiated
c. both 'a' and 'b'
d. either 'a' or 'b'
Q. Breach of a warranty gives rise to
a. claim for damages
b. a right to treat the contract as repudiated
c. both 'a' and 'b'
d. either 'a' or 'b'
Q. Whether a stipulation is a condition or a warranty depends on
a. the construction of the contract
b. the conduct of the parties
c. the trade custom
d. the local law
Q. If a contract of a sale contains a stipulation which is impossible to fulfill then
a. the contract becomes illegal
b. the law excuses such a stipulation by reason of impossibility
c. either 'a' or 'b'
d. both 'a' and 'b'
Q. Where a contact of sale is subject to any condition to be fulfilled by the seller and the seller commits abreach of that condition
a. the buyer has to compulsorily treat the breach of condition as breach of warranty only
b. the buyer may voluntarily waive the condition
c. the buyer may do nothing
d. the buyer may contact another seller
Q. What are implied stipulations of a contract?
a. agreed by the parties.
b. incorporated by law unless specifically agreed otherwise.
c. implied by the circumstances
d. implied by trade customs
Q. Once the buyer decides to waive the condition
a. he can insist on its fulfillment later on
b. he cannot insist on its fulfillment thereafter
c. he is bound by the waiver
d. both 'b' and 'c'
Q. When will breach of condition be treated as breach of warranty only?
a. when the contract is severable and buyer accepts the goods in full.
b. when the contract is indivisible and the buyer accepts the goods in full or part.
c. Either 'a' or 'b'
d. Both 'a' and 'b'
Q. What is the implied condition as to the title of goods?
a. that seller has the right to sell if it is a case of sale
b. he will have a right to sell in case of agreement to sell
c. that the buyer will have the right to reject the goods
d. both 'a' and 'b'
Q. If the condition as to the title of goods is not fulfilled, the buyer
a. may reject the goods
b. has no alternative but to buy the goods
c. may reject the goods and claim damages
d. all the above
Q. The implied condition as to the description of goods means that
a. the goods shall perfectly correspond to the description
b. the goods should be capable of being sold in the market by that description
c. both 'a' and 'b'
d. neither 'a' nor 'b'
Q. In a sale by sample and description, there is an implied condition
a. that bulk of the goods correspond with the sample
b. that bulk of goods must correspond to the description as well as the sample thereof
c. the bulk of goods must correspond either to the description or to the sample
d. the bulk of goods must correspond to the description only