Legal Aspects of Business MCQs

Commerce Objective Questions

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302. Caveat emptor means

A. buyer has the right to inspect goods

B. seller has the right to sell goods

C. let the buyer beware

D. None of the above

303. Which of the following is the most important document of the company?

A. Memorandum of association

B. Article of association

D. Annual report

304. Which of the following act governs the formation and regulation of Limited Liability Partnership in India?

A. Partnership Act, 1932

B. Companies Act, 2013

C. Limited Liability Partnership Act, 2008

D. Limited Liability Partnership Act, 2010

305. Which of the following cannot be treated as 'delivery' under the Sale of Goods Act, 1930?

A. Doing anything which has the effect of putting goods in possession of legal representatives of seller

B. Doing anything which has the effect of putting goods in possession of any person authorized by the buyer

C. Doing anything which has the effect of putting goods in possession of the buyer

D. Doing anything which the parties agree to be treated as delivery

306. Which of the following officers can sign on behalf of the company:

A. Managing Director

C. Executive President

307. The liability under section 138 of the Negotiable Instruments Act, 1881, is:

A. Civil liability

B. Criminal liability

C. Both A and B

D. None of the above

308. Which one of the following is a void contract?

A. Unilateral contract

B. A contract which ceases to be enforceable by law

C. Implied contract

D. Express contract

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