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Legal Aspects of Business MCQs

Commerce Objective Questions

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183. Which of the following does not from the bottom of the important information to be incorporated in the memorandum of association as specified in the companies Act, 2013?
A. The name of the company and the state in which this situated
B. The objects for which the company is proposed to be interrupted
C. The rules, tribulations and bye-lows for the internal management of the company
D. The liability of the members of the company, whether limited or unlimited
Discussion
184. Consider the following statements:
Assertion (A): Persons dealing with the company shall be within their rights to assume that the provisions of Articles have been complied with by the company in its internal working.
Reason (R): Every person who deals with a company is not supposed to have read and understood the Memorandum and Articles of the company.
Now select your answer:
A. Both A and R are true and R is the correct explanation of A
B. Both A and R are true but R is not the correct explanation of A
C. A is true but R is false
D. A is false but R is true
Discussion
185. The principle of constructive notice protects:
A. Outsiders against company
B. Company against outsiders
C. Directors against shareholders
D. Employees against management
Discussion
186. Which of the following in Indian Contract Act does not constitute fraud?
A. Where a person stands in a fiduciary relation with the other and induces the other person to act on his directions
B. The active concealment of a fact by one having knowledge or belief of the fact
C. A promise made without any intention of performing it
D. The suggestion as a fact, of that which is not true, by one who does not believe it to be true
Discussion
187. Maximum number of members in case of private company.
A. 10
B. 50
C. 70
D. 200
Discussion
188. Under the Indian Contract Act, a third person:
A. who is the beneficiary under the contract can sue
B. from whom the consideration has proceeded can sue
C. cannot sue even if the consideration has proceeded from him
D. cannot sue at all for want of privity of contract
Discussion
189. An unpaid seller may have right(s) against
1. goods
2. buyer
3. government
Which of the following option is true?
A. Only 1
B. Only 2
C. Both 1 and 2
D. All of the above
Discussion

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