Top 250+ Solved Laws and Ethics MCQ Questions Answer
Q. In social agreements usual presumption is
a. that parties do not intend to create social relations.
b. that parties intend to perform them.
c. that parties do not intend to make legal and social relations.
d. that the parties do not intend to create legal relations between them.
Q. In a sale of goods, the doctrine of caveat emptor will not apply when there is
a. usage of trade
b. consent by fraud
c. buyers’ error of judgment
d. Merchantable Quality
Q. A bill of exchange, that is drawn accepted or endorsed without consideration iscalled
a. Accommodation bill
b. Promissory note
c. Trade bill
d. Bearer instrument
Q. Under Industrial Disputes Act, Appropriate Government may require to constitute a workman committee on any day in the preceding 12 months, where an industrial establishment employs
a. 250 or more workers
b. 100 or more workers
c. 500 or more workers
d. 200 or more workers
Q. Employee’s State Insurance Act, 1948 is applicable to all
a. factories including factories belonging to Government and seasonal factories.
b. factories excluding seasonal factories.
c. factories including factories belonging to Government and seasonal but excluding Silk factory.
d. factories including factories belonging to Government but excluding seasonal factories.
Q. A partner must give a public notice of his retirement from the firm in order absolve himself from the liability for the acts of the other partners done after his retirement is known as
a. Dormant partner
b. Ostensible partner
c. Nominal partner
d. Partner by estoppel
Q. A prospectus which does not have complete particulars on the price of securitiesoffered and the quantum of securities offered by the company is known as
a. Statement in lieu of prospectus
b. Red-herring prospectus
c. Deemed prospectus
d. Shelf prospectus
Q. The crucial step in understanding business ethics is
a. Establishing codes of ethics
b. Learning to recognize ethical issues
c. Having efficient operations
d. Implementing strategic plan
Q. Which of the following reason is applicable for unethical business practices?
a. Workplace Surveillance
b. Profit making by some of the big companies
c. Success of the company
d. Administrative corruption
Q. A party who does not suffer any loss in case of breach of contract is entitled to
a. Statutory damages
b. Liquidated damages
c. Exemplary damages
d. Nominal damages
Q. If part of contract is illegal, then the whole contract will be
a. Voidable
b. Void
c. Legal
d. Illegal
Q. In which of the following cases, the claim of Quantum Meruitarise
a. When there is no breach of contract
b. When a contract is discovered to be valid
c. Where something has been done non gratuitously
d. Where the contract is divisible
Q. Amit tells Bharat in the presence of Chetan that Amit is agent of Chetan. Chetan maintain silence instead of denying it. Later, if Amit sells Chetan's goods to Bharat, Chetan cannot dispute Bharat's title to the goods. This is example of
a. Sale by official receiver
b. Sale by a finder of goods
c. Sale by estoppel
d. Execution of Sale
Q. If a minor draws, endorses, delivers or negotiates an instrument, such instrument binds
a. all parties to the instrument including the minor
b. only the minor and no other parties to the instrument
c. all parties to the instrument except the minor
d. None of the above
Q. In a partnership firm, the decision can be made by rule of majority when decisionsrelate to
a. policy matters
b. ordinary routine matters
c. financial matters
d. buying and selling of property