Top 1000+ Solved Fundamentals of Laws and Ethics MCQ Questions Answer
Q. In case of carriage of goods by sea, where the seller has to deliver the goods to the buyer at the port ofdestination, the contract is known as
a. F.O.B. Contract
b. CLE Contract
c. Ex-ship Contract
d. FAS Contract
Q. Under a……………contract the seller is required to insure the goods, deliver them to the shippingcompany, and arrange for their affreightment.
a. F.O.B. Contract
b. CLE Contract
c. Ex-ship Contract
d. FAS Contract
Q. The general principle regarding transfer of title in case of sale of goods is that—
a. The seller cannot transfer to the buyer a better title than he himself has
b. The seller can transfer to the buyer a better title than he himself has
c. The buyer can transfer to the seller a better title than he himself has
d. The seller's representative can transfer to the buyer no title
Q. The Seller of Goods is deemed to be an Unpaid Seller when the…………of the price has not been paid ortendered.
a. Whole
b. part
c. substantial portion
d. minimal portion
Q. The Seller of Goods is deemed to be an Unpaid Seller when a bill of exchange or other negotiableinstrument has been received as conditional payment and the condition —
a. has been fulfilled
b. has not been fulfilled
c. has been waived
d. has not be waived
Q. The Seller of Goods is deemed to be an Unpaid Seller when……..has been received as conditionalpayment and the condition has not been fulfilled, by way of dishonour or otherwise.
a. Cheque
b. Promissory Note
c. Bill of Exchange
d. Any of the above
Q. The term "Unpaid Seller" includes —
a. Agent of the Buyer
b. Agent of the Seller
c. Agent of the Carrier/Transporter
d. All of the above
Q. The term "Unpaid Seller" includes —
a. Buyer's agent to whom the Bill of Lading is endorsed
b. Buyer's agent to whom the goods have been delivered
c. Seller's agent to whom the Bill of Lading is endorsed
d. Seller's agent to whom the goods have been delivered
Q. Which of the following is not included in the term Unpaid Seller?
a. any person who is in the position of a Seller
b. a consignor or an agent who has himself paid, or is directly responsible for the price.
c. Buyer's agent to whom the Bill of Lading is endorsed
d. Seller's agent to whom the goods have been delivered
Q. Even if a substantial portion of the price is paid and only a small balance is pending, the Seller is stillregarded as an Unpaid Seller.
a. True
b. Partly True
c. False
d. None of the above
Q. Unpaid Seller can exercise his right of lien —
a. even when property in goods has passed to the Buyer
b. only when property in goods has not passed to the Buyer
c. either (a) or (b)
d. neither (a) nor (b)
Q. Unpaid Seller can exercise his right of stopping the goods in transit —
a. even when property in goods has passed to the Buyer
b. only when property in goods has not passed to the Buyer
c. either (a) or (b)
d. neither (a) nor (b)
Q. Unpaid Seller can exercise his right of re-sale of goods—
a. even when property in goods has passed to the Buyer
b. only when property in goods has not passed to the Buyer
c. either (a) or (b)
d. neither (a) nor (b)
Q. Unpaid Seller can exercise his right of withholding delivery of goods —
a. even when property in goods has passed to the Buyer
b. only when property in goods has not passed to the Buyer
c. either (a) or (b)
d. neither (a) nor (b)
Q. The right of lien is available to the Unpaid Seller, only when —
a. he is not in possession of the goods
b. he is in possession of the goods
c. he has delivered the goods to the Carrier/ Transporter
d. he has delivered the goods to the Buyer