Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. For the purpose of ascertaining the intention of the parties for the purpose of transfer of property in goodsfrom the seller to the buyer regard shall be had to:
a. The terms of the contract
b. The conduct of the parties
c. The circumstances of the case
d. All the above
Q. In case of an unconditional contract for the sale of specific goods in a deliverable state, the property inthe goods passes:
a. At such time as the parties to the contract intend it to be transferred
b. When the price is paid
c. When delivery is given
d. When the contract is made
Q. The ownership in specific goods to be put in deliverable state passes-
a. When the seller has brought the goods into a deliverable state and the buyer has notice thereof
b. When the goods are brought in deliverable state by the seller
c. The contract is made
d. When the intention is clear
Q. The general rule of Sale of Goods Act is, risk prima facie passes with
a. Ownership
b. Possession
c. Delivery
d. Custody
Q. For passing of property in goods, the goods must be in
a. deliverable state
b. manufacturing stage
c. consumable state
d. marketing state
Q. The purpose of weighing, measuring or testing of goods in a contract of sale of specific goods in deliverable state is:
a. To ascertain the price
b. To ascertain the time of delivery
c. To ascertain the mode of delivery
d. To dispatch the goods
Q. When the goods are sent on sale or return basis, the property in the goods passes to the buyer:
a. When the buyer signifies his approval or acceptance to the seller
b. When the buyer pledges the goods
c. When the buyer resells the goods
d. All the above
Q. Reserving the right of disposal of goods means
a. The property passes over to the buyer only when the buyer pays the price
b. The property passes to the buyer when the buyer promises to pay the price
c. The property passes to the buyer irrespective of payment of price
d. The property passes to the buyer, when the seller dies
Q. "Nemo dat quad non habet", means:
a. no one is greater than god
b. none can give who does not himself possess
c. every one can give everything he has
d. everyone is bound by is habit
Q. Sale of goods by a mercantile agent gives a good title to the purchaser even in cases where the agentacts beyond his authority, provided the following conditions are satisfied-
a. The agent is in possession of the goods or of a document of title to the goods.
b. The agent sells the goods in the ordinary course business.
c. The purchaser acts in good faith and has no notice that the agent had no authority to sell.
d. All the above
Q. In respect of……………Goods, the property in the goods is transferred to the Buyer at such time as theparties intend it to be transferred.
a. Future
b. Unascertained
c. Contingent
d. Specific or Ascertained
Q. Which of the following is relevant for determining the passing of property in ascertained goods?
a. Intention of Parties
b. Delivery of Goods
c. Payment of Price
d. All of the above
Q. For passing of property in respect of specific or ascertained goods, the intention of the parties can beascertained from —
a. Terms of the contract
b. Conduct of the parties
c. Circumstances of the case
d. All of the above
Q. The rule as to passing of property as laid down in section 20 of the Sale of Goods Act, shall apply when—
a. the time of payment of price is postponed
b. the time of delivery of the goods is postponed
c. even the time of payment of price and the time of delivery of the goods are both postponed
d. neither the time of payment of price nor the time of delivery of the goods is postponed
Q. Under the Sale of Goods Act, 1930, the term "Mercantile Agent" means a mercantile agent, having assuch agent, authority to —
a. sell goods or consign goods for the purposes of sale
b. buy goods
c. raise money on the security of goods
d. do all of the above