Top 250+ Solved Laws and Ethics MCQ Questions Answer
Q. When the day on which a promissory note or bill of exchange is at maturity is a publicholiday, the instrument shall be deemed to be due on the
a. Preceding day
b. Next preceding business day
c. Same day of next week
d. 3rd day following the day holiday
Q. In case of an employee who has not completed 15 years of age at the beginning ofthe Accounting year, the minimum bonus will be
a. `100 or 8.33% of salary or wages whichever is higher.
b. ` 60 or 8.33% of salary or wages whichever is higher.
c. ` 60 or 8.33% of salary or wages whichever is lower.
d. 8.33% of salary or wages.
Q. Every LLP firm shall have at least _____________ designated partners who areindividuals.
a. two
b. three
c. four
d. Five
Q. K owns a residential flat in Chennai. He is entitled to quiet possession and enjoymentof his property. This is called –
a. Rights in Personam
b. Rights in Rem
c. Constitutional Right
d. There is no right at all
Q. X sells the goodwill of his retail store to Y for `5 lacs and promises not to carry on thesame business for ever and anywhere in India. This agreement is:
a. Valid
b. Void
c. Voidable
d. Illegal
Q. In a Contract of Guarantee there is/are:
a. One contract
b. Two contracts
c. Three contracts
d. Four contracts
Q. Right of Stoppage in transit can be exercised by the Unpaid Seller, where the Buyer:
a. is solvent
b. becomes insolvent
c. acts fraudulently
d. acts smartly
Q. "Nemo dat quad non habet", means:
a. no one is greater than god
b. none can give who does not himself possess
c. everyone can give everything he has
d. everyone is bound by is habit
Q. According to Sec 2(n) “Occupier” of a factory means ___________________
a. The person who has established the factory
b. The person who has highest profit share in the factory
c. The person who has ultimate control over the affairs of the factory
d. The person who has ultimate control over the employees of the factory
Q. A factory employs 250 workers. All the workers including workers above 60 years ofage and below 15 years of age went on strike. The employer
a. can deduct fine from all the workers
b. cannot deduct fine from workers who are under the age of 15
c. no fine can be imposed from workers who are 60 years and above
d. cannot deduct any fine from any worker.
Q. Permanent disablement benefit is paid at the rate of ______________ of wages.
a. 120%
b. 100%
c. 79%
d. 90%
Q. Workers will be entitled to overtime wages if they have worked for more than____________.
a. Forty-eight hours in any four week
b. Forty-eight hours in any three week
c. Forty-eight hours in any two week
d. Forty-eight hours in any week
Q. Appropriate Government reviews the rates of minimum wages within:
a. 2 years
b. 4 years
c. 5 years
d. 6 years
Q. Anchal purchased a motor car from Kamal who had no title to it. Anchal used the motor car for several months. True owner spotted the motor car and demanded it from Anchal. In such case
a. Anchal is bound to hand-over the motor car to true owner.
b. Anchal is not bound to return the motor car to true owner as she has paid in full settlement to Kamal.
c. Anchal shall advise true owner to approach Kamal.
d. True owner has no right to claim either from Anchal or from Kamal.
Q. Which of the following agreement is wagering agreement under the Indian ContractAct, 1872?
a. Crossword competition involving application of skill and knowledge.
b. Contract of Insurance.
c. A promise to pay B ` 1,000 if it rains on Monday.
d. A agrees to pay B `1,000 if he marries C.