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PAPER 3: FUNDAMENTALS OF LAWS AND ETHICS 50_MCQ Part 13

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Question;1.;Rightof Stoppageintransit;canbeexercisedby theUnpaid;Seller,wherehe?;(a);haslosthisrightoflien;(b);stillenjoyshisrightoflien;(c);either (a)or(b);(d);neither(a)nor (b);2.;RightofStoppageintransit;canbeexercisedby;theUnpaid Seller,wheretheBuyer?;(a);issolvent;(b);becomesinsolvent;(c);actsfraudulently;(d);actssmartly;3.;If,afterthearrivalofgoodsattheirdestination,CarrierorotherBaileeacknowledgestoBuyerorhisagentthatheholds;goods on hisbehalf,and continues possession of thegoods;thetransit?;(a);isatanend;(b);isdeemedtocontinue;(c);isnotatanend;(d);isnotaffectedatall;4.;Ifgoodsarerejected;by thebuyer and theCarrier;or otherBaileecontinues;inpossessionofthem,and thesellerhasrefused toreceive;them back, thentransit?;(a);isatanend;(b);isdeemedtobeatanend;(c);isnotdeemedtobeatanend;(d);isdependentontheCourt's;decision;5.;If,afterthearrival;ofGoodsattheirdestination,CarrierorotherBaileeacknowledgestoBuyerorhisagentthatheholdsgoods;on hisbehalf,and continues;possession of thegoods, thetransitisatan end?;(a);evenifthebuyerindicates;furtherdestinationforthegoodstotheCarrier.;(b);onlywhenthebuyertakesdeliveryofthegoods;(c);onlywhenthebuyerissolvent;(d);onlywhentheseller'sagenttakesdelivery;ofthegoods;6.;IftheCarrier/Baileewrongfullyrefusestodeliverthegoodstothebuyerorhisagent,the;transit?;(a);isatanend;(b);isdeemedtobeatanend;(c);isnotdeemedtobeatanend;(d);isdependentontheCourt's;decision;7.;Sub-saleby thebuyerwithSeller's;consentleadstolossofrightofstoppageintransit.;(a);True;(b);Rightnotaffected;(c);False;(d);Noneoftheabove;8.;Ssellscertain;goodstoBofBombay.ThegoodsarehandedovertotherailwaysfortransmissiontoB.In;themeantimeBsells thegoodstoa third partyT forconsiderationwithout theconsent;of;S.;B.becomesinsolvent.Inthiscase?;(a);Shastherightof;stoppageintransit;(b);Shaslosthisrightofstoppageintransit;(c);StationMasterhastherightofstoppageintransit;(d);Noneoftheabove;9.;RightofStoppageinTransit;maybeexercisedby;theUnpaid Seller,by?;(a);takingactualpossessionofGoods;(b);givingnoticeofhisclaimto;theCarrier/Bailee;whoholdstheGoods.;(c);either (a)or(b);(d);Both (a)and;(b);10.;TheUnpaidSeller'srightoflienorrightofstoppage;intransitisNOTAFFECTEDbyanysaleorotherdispositionoftheGoodsmadebyBuyer,unless?;(a) Buyerbecomessolvent;(b);Buyerobtainsdeliveryofgoodsbeforedestination;(c);Sellerhasassentedtosuchsale;(d);Sellerobtainsdeliveryofgoodsbeforedestination;11.;Unpaid Seller'srightofstoppageintransit;canbeexercised onlywhentheBuyerisinsolvent.;(a);True;(b);PartlyTrue;(c);False;(d);Noneoftheabove;12.;AnUnpaidSeller;can re-sellonly-whenheisinpossessionoftheGoods;eitherby;(a);exerciseofhislienontheGoods;(b) regaining possession;fromCarrier byissuing a notice;of;stoppage in;transit;upon Buyer'sinsolvency;(c);both (a)and;(b);(d);either (a)or(b);13.;Theword "perishable"inrespect;ofgoods,u/s54oftheSaleofGoods Act,means;(a);physicallyperishable;(b);commerciallyperishable;(c);both (a)and;(b);(d);either (a)or(b);14.;Whereunderacontract;ofsaletheproperty;ingoodshaspassedtoBuyerandBuyerwrongfullyneglects;orrefusestopay theprice,theSeller;cansuetheBuyerfor;?;(a);paymentofpriceofgoods;(b);damagesfornon-acceptanceofgoods;(c);paymentofotherchargeslikeinsurance,forwardingetc.;(d);alloftheabove;15.;Whereunderacontract;ofsale,theBuyerwrongfully;neglectsorrefuses;topaytheprice;theSellercansuetheBuyerforthepriceofgoods,if thepropertyingoods-;(a);hasnotpassedtobuyer;(b);haspassedtobuyer;(c);either (a)or(b);(d);remainswiththeseller;16.;Whereunderacontract;ofsale,thepriceispayableon acertaindayirrespectiveofdeliveryandBuyerwrongfullyneglectsorrefuses;topaytheprice,theSellercansuetheBuyerforthepriceofgoods.For;thispurpose,goods?;(a);shouldbeappropriatedtothecontract;(b);neednotbeappropriatedtothecontract;(c);shouldbedeliveredtothebuyer;(d);neednotbedelivered;tothebuyer;17.;Generally,wheretheBuyerhaspaidthepriceandSellerrefuses;todeliverthegoods,buyercansuetheseller;for?;(a);specificperformanceofthecontract;(b);delayeddeliveryofgoods;(c);refundof price;alreadypaid;(d);non-acceptanceofgoods;18.;Wherethereisabreachofwarranty-byseller,orwheretheBuyerelectsoriscompelledtotreatany breach;of conditionbythesellerasbreach;ofwarranty, thebuyerisentitled to?;(a);rejectthegoods;(b);setupagainsttheSellerthebreach;ofwarrantyindiminutionorextinctionoftheprice;(c);suetheSellerfordamagesforbreach;of warranty;(d);either'b'or'c;19.;Incaseofinterest;bywayofdamagesandspecialdamagesinasuitbytheselleru/s61,theinterest;maybecalculatedfrom?;(a) dateoftenderofgoods;(b);dateonwhichtheprice waspayable;(c);either (a)or(b);(d);both (a)and;(b);20.;Whenunderacontract;ofsale,buyerhaspaidtheprice,butsellerneglectstodelivergoods,buyerhasarighttoclaiminterestontheamountofprice.;Thebuyercanclaim;interest?;(a);onlywhenhecanrecover;theprice;(b);onlywhenheisentitledtoclaimdamages;(c);either (a)or(b);(d);both (a)and;(b);21.;Ifthegoodsarerejectedbythebuyerandthecarrierorotherbaileecontinuesinpossessionofthem, the transit????even;if the seller has refusedto;receive themback.;(a);isdeemedtobeatanend;(b);isnotdeemedtobeatan end;(c);continues;(d);both'b'and'c;22.;Inanauctionsaleofgoods,thesellermakesuseofpretended;biddingtoraisetheprice,thesaleis?;(a);valid;(b);void;(c);voidableattheinstance;ofthebuyer;(d);unenforceable;23.;Anauctionsaleiscompleteon;the-;(a);deliveryofgoods;(b);paymentofprice;(c);fallofhammer;(d);Noneoftheabove;24.;Inthecaseofsalebyauction,wheregoodsareputforsaleinlots,eachlotisprimafaciethesubject;of?;(a);asinglecontractofsale;(b);aseparatecontractofsale;(c);either (a)or(b);(d);both (a)and;(b);25.;Inthecaseofsalebyauction;thesellerofgoodshas arighttobid at;the auction;(a);withthepermissionoftheauctioneer;(b);onlywhentherighttobidhasbeenexpresslyreserved;(c);evenwhentherighttobidhasbeenimpliedly;reserved;(d);withthepermissionofthebidder;26.;Wherearight;tobidattheauctionhasbeenexpressly;reservedbytheseller,thesellercandepute?;(a);notmorethanoneagenttobidonhisbehalf;(b);notmorethantwoagents;tobidonhisbehalf;(c);notmorethanthreeagentstobidonhisbehalf;(d);anynumberofagentstobidonhisbehalf;27.;Incaseofsaleby;auction,abid canberecalled;atany timebefore thefall ofhammer.;(a);True;(b);Dependsontheauctioneer;(c);False;(d);Noneoftheabove;28.;Inthecaseofsalebyauction,assoonasthehammerfalls,goodsbecomethepropertyofthebuyer?;(a);evenifthereisacondition;thatthegoodsshallbe;removedbeforepayment;(b);onlyonpayment;(c) onlyifthereisaconditionthatthegoodsshallnotberemovedbeforepayment;(d);onlyondelivery;29.;Wherethesaleisnotnotified;tobesubjecttoarighttobidonbehalfofseller,itshallnotbelawfulfortheseller?;(a);tobidforhimself;(b);toemployanypersontobidatsuchsale;(c);either (a)or(b);(d);neither(a)nor (b);30.;Wherethesaleisnotnotifiedtobesubjecttoarighttobidonbehalfofseller,andtheAuctioneerknowinglytakesanybidfromtheSelleroranysuchperson,thesaleshallbetreatedas???..by;thebuyer.;(a);unlawful;(b);illegal;(c);immoral;(d);fraudulent;31.;An;actby whichan intending;bidder isdiscouragedordissuaded frombiddinginthe;auctionsaleiscalled;(a);Puffer;(b);Damping;(c);Dumping;(d);Knockout;32.;?????.isaformofcombinationofbuyerstopreventcompetitionamongthemselvesatanauctionsale.;(a);Knock-outagreement;(b);monopolyagreement;(c);oligopolyagreement;(d);puffingagreement;33.;Inpretended bidding,saleis;(a);voidableattheoptionoftheseller;(b);valid;(c);voidableattheoptionofthebuyer;(d);illegal;34.;Inan auctionsale,the property shallbesold tobe;(a);Lowestbidder;(b);Highestbidder;(c);Anybidder;(d);Allbidders;35.;Onauctioneerwillbeliablefordamages;(a);Iftheauctioneerhadnoauthority;tosellthegoods.;(b);Ifthereisadefectinprincipal'stitle.;(c);Ifthebuyer'spossessionisdisturbedbyauctioneerprincipalorauctioneerhimself.;(d);All theabove;36.;Unlessexcludedbyanagreementtothecontrary,whereafteracontract;hasbeenmadebutbeforeithasbeenperformed, excisedutyisincreased;(a);Thebuyerwouldhavetopayincreased;price;(b);Thesellercannotchargeincreasedprice;(c);Thesellercanchargeincreased;price;(d);Both'a'and'c;37.;TheIndian Partnership Actcameintoforceon;(a);1stApril1932;(b)1stJune1932;(c)1stJuly 1932;(d)1stOctober1932,exceptsection69;38.;PriortotheenactmentofIndianPartnershipAct,1932 thelawonthissubject;wascontainedin;(a) CodeofCivil;Procedure,1908;(b) IndianContract Act,1872;(c) CompaniesAct,1913;(d) NegotiableInstrumentsAct,1881;39.;The term'partnership'has;been definedunder????of the PartnershipAct;1932;(a) Section3;(b) Section4;(c) Section5;(d) Section6;40.;TheIndianPartnership Act,1932 extendstothewholeofIndia except;(a) TheStateofJammu&Kashmir;(b) TheStateof Jammu;KashmirandtheStateofSikkim;(c) TheStateofJammu&KashmirandtheNorth-easternStatesofIndia;(d);TheNorth-EasternStatesofIndia;41.;Whatamong thefollowingisnotanessential;elementofpartnership;(a) Theremustbe anagreemententeredintobyallthepersons;concerned;(b) Theagreement mustbetosharetheprofits;ofabusiness;(c) Thebusinessmuststartwithinsixmonthsfromthedateofagreement;(d) Thebusiness mustbecarriedonbyalloranyoneofthemactingforall;42.;AJointHinduFamilyiscreated;(a) Byacontract;(b) Byoperationoflaworstatus;(c) Byregistration;(d) Byalltheabove mode;43.;Aclubistheform;of;(a);Associationnotforprofit;(b);Partnership;(c);Soleproprietorship;(d);Publiccompany;44.;ThePartnershipAct,1932;(a);Specifiesthe minimumnumberofpartners;inafirm;(b);Specifiesthemaximumnumberofpartners;inafirm;(c);Both(a)and(b);(d);Noneoftheabove;45.;Theceiling onmaximumnumberofpartnersina firmis;laiddownin;(a) ThePartnership Act,1932;(b) TheIndianContractAct,1872;(c) TheCompaniesAct,1956;(d) CentralGovernmentnotification;46.;Thetestofpartnershipislaiddowninthefollowing;case;(a) Coxv.Hickman;(b);Garnerv.Murray;(c);Mohiribibiv.DharmodasGhosh;(d);Noneoftheabove;47.;Apartnershipfirm;(a);Isalegalperson;(b);Isnotalegalperson;(c);Hasadistinct;legalpersonality;(d);Noneoftheabove;48.;Apartnershipformedforthepurposeof;carrying onparticularventure orundertaking;is known as;(a);Limitedpartnership;(b) Specialpartnership;(c);JointVenture;(d);Particularpartnership;49.;From among thefollowingwhocannotbecomeapartner ofthefirm?;(a);AHindujointfamily;(b);Minor;(c);DirectorofaCompany;(d);AlimitedCompany50.;Undersection4of theIndian Partnership Act,1932,partnershipisa:(a);Compulsorylegalrelationship(b);Voluntarilylegalrelationship(c);Arelationarising;fromstatus;(d);Arelationforacharitablepurpose="msonormal">

 

Paper#59041 | Written in 18-Jul-2015

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