Business Law 2

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Objective Questions and Answers of MBA: Business Law 2

Subject: Objective Questions and Answers of MBA: Business Law 2

Part 2: Objective questions and answers of Business Law

 

Q1. Which of following result in an offer?

a) A declaration of intention

b) An invitation to offer,

c) An advertisement offering reward to anyone who finds lost dog of the advertise,

d) An offer made in a joke.

 

Q2. A contract to pay Rs. 10,000 if b s house is burnt – this is a

a) Wagering agreement

b) Void

c) Voidable agreement

d) Contingent contract

e) Contract of guarantee.

 

Q3. Each party is a promisor and a promise in case of –

a) Past consideration

b) Present consideration

c) Every contract

d) Reciprocal promises

 

Q4. A promise made without the intention of performing it amounts to –

a) Innocent misrepresentation

b) Fraud

c) Negligent misrepresentation

d) Wrongful misrepresentation

 

Q5. If there is a fraudulent misrepresentation as to the contents of a document, the contract is

a) Void,

b) Voidable,

c) Valid

d) Illegal

 

Q6. An agreement made without consideration is

a) Valid,

b) Illegal,

c) Voidable

d) Void

 

Q7. A contract creates

a) Rights in person

b) Rights in rem,

c) Only rights and no obligations,

d) Only obligations and no rights.

 

Q8. If there is a fraudulent misrepresentation as to the character of a document, the contract is ________________

a) Void,

b) Voidable,

c) Valid

d) Illegal

 

Q9. When promise refuses to accept performance from the promisor who offers to perform, it is ________________

a) Attempted performance,

b) Vicarious performance,

c) Tender

d) Frustration of contract.

 

Q10. Where a contract could not be performed because of the default by a third person on whose work the promisor relied, it ________________

a) Is not discharged

b) Is discharged

c) Becomes void

d) Becomes voidable.

 

Q11. An agreed to sell 100 shares to b at Rs. 75 per share delivery to be given on the 1 st march, b refused to accept delivery on 1st march as price had gone down to Rs. 60 per share. Subsequently a sold these shares at Rs.92 per share

a) A cannot recover any damages from b

b) A will have to restore to brs. 1700 i.e. The profit he made

c) A can recover damages to be determined by the president of the stock exchange.

 

Q12. A guarantee obtained by a creditor by keeping silence as to material circumstances is

a) Valid

b) Voidable

c) Unenforceable

d) Invalid

 

Q13. In case of breach of a warranty, the buyer can

a) Repudiate the contract

b) Claim damages only

c) Return the goods

d) Refuse to pay the price

e) Refuse to take delivery of the goods.

 

Q14. A specific offer can be accepted by

a) Any person

b) Any friend of offered

c) The person to whom it is made

d) Any friend of offered.

 

Q15. A promise to subscribe to a charity. The promise is a

a) Valid contract,

b) Voidable contract,

c) Void agreement

d) Void contract.

 

Q16. If there is error in cause, the contract i

a) Void

b) Voidable

c) Valid

d) Illegal

 

Q17. A lends rs. 500 to b. He later tells b that he need not repay the amount, the contract is discharged by

a) Breach

b) Waiver

c) Novation

d) Performance

 

Q18. A minor has been supplied necessaries on credit

a) He is not liable

b) He is personally liable

c) His estate is liable

d) He is not personally liable

 

Q19. The doctrine of caveat emptor applies

a) In case of implied conditions and warranties

b) Coffee

c) When the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment

d) When goods are sold by sample

e) When goods are sold by description

 

Q20. A contract

a) May be void as originally entered into

b) May become void subsequent to its formation

c) Cannot become void under any circumstances

d) May become void at the will of party.

 

Part 2: Objective questions and answers of Business Law

 

Q1. Answer c

 

Q2. Answer d

 

Q3. Answer d

 

Q4. Answer b

 

Q5. Answer b

 

Q6. Answer d

 

Q7. Answer b

 

Q8. Answer a

 

Q9. Answer a

 

Q10. Answer a

 

Q11. Answer c

 

Q12. Answer d

 

Q13. Answer b

 

Q14. Answer c

 

Q15. Answer c

 

Q16. Answer b

 

Q17. Answer b

 

Q18. Answer c

 

Q19. Answer a

 

Q20. Answer b

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