MCQ’s Business law

Collection of important MCQs of Business law.

a)Law is either private law or _________ law.
1)Public
2)Private
3)Local
4)Family
5)None of these

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1

b) A breach of contract can be of ___________ breach
1)Discharged
2)Illegal
3)Void
4)None of these

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1

(c) How many parties are there to a Promissory note?
(1) Two parties
(2) One party
(3) Four party
(4) Three parties
5)None of these

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3

(d) A minor can be an _____________?
1) Surety
2) Agent
3) Partner
4) All of these
5)None of these

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2

(e) Public Law is divided into ________ categories?
1)Three
2)Four
3)Two
4)None of these

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2

(f) An agreement that is caused by fraud, misrepresentation & coercion is _____?
1)Voidable
2)Partially Void
3)Valid
4)All of these
5)None of these

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1

(g) The person which is represented as an agent ______?
1) Middleman
2) Owner
3)None of these
4) Principal

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4

(h) Public law includes _______law?
1) Administrative
2) Constitution
3) Criminal
4) All of these
5)None of these

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4

(I) Contingent goods belongs to _______ goods?
1)Existing
2)Future
3)Contingent
4)None of these

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2

(J) Is voidable contract?
1) Partly valid agreement
2) An illegal agreement
3) All of these
4) None of these

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4

According to Contract Act, Select the true about the “Contract”?
A. Legal Term
B. Binding agreement
C. Always in written
(A) B only
(B) A and B only
(C) A, B and C

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(C) A, B and C

A Contract can be signed between
(A) Individuals
(B) Legal Entities
(C) All of the above A and B
(D) None of these

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(C) All of the above A and B

In general, Partnership entails which one of the following liability?
(A) Unlimited Liability
(B) Limited Liability
(C) No Liability at all
(D) Both A and C

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(B) Unlimited Liability

Select the best of partnership that entails more legal benefits?
(A) Unlimited Liability Partnership
(B) Limited Liability Partnership
(C) Ordinary Partnership
(D) None of these

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(A) Unlimited Liability Partnership

Reciprocal represent the meaning of
A.One sided contracts
B.Trilateral contracts
C. Bilateral contracts
D.None of above

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B.Trilateral contracts

…..is the promise which forms the consideration or part of the consideration for each other.
A. Reciprocal promise
B. Conditional promise
C. Simple promise
D. None of above

A proposal may be revoked by different ways as are provided in which one of the followings section of the Contract Act 1872.
A. 6
B. 7
C. 8
D. None of above

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A. 6

How many ways for revocation of proposal, according to the section 6 of the Contract Act, 1872
A. 2
B. 3
C. 4
D. None of above

Answer - Click Here:
C. 4

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