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
b) A breach of contract can be of ___________ breach
1)Discharged
2)Illegal
3)Void
4)None of these
(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
(d) A minor can be an _____________?
1) Surety
2) Agent
3) Partner
4) All of these
5)None of these
(e) Public Law is divided into ________ categories?
1)Three
2)Four
3)Two
4)None of these
(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
(g) The person which is represented as an agent ______?
1) Middleman
2) Owner
3)None of these
4) Principal
(h) Public law includes _______law?
1) Administrative
2) Constitution
3) Criminal
4) All of these
5)None of these
(I) Contingent goods belongs to _______ goods?
1)Existing
2)Future
3)Contingent
4)None of these
(J) Is voidable contract?
1) Partly valid agreement
2) An illegal agreement
3) All of these
4) None of these
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
A Contract can be signed between
(A) Individuals
(B) Legal Entities
(C) All of the above A and B
(D) None of these
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
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
Reciprocal represent the meaning of
A.One sided contracts
B.Trilateral contracts
C. Bilateral contracts
D.None of above
…..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
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