MCQ’s 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

Answer - Click Here:

1

(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 others.
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

Which one of the following is the agreement that is not enforceable by law is?
A. Valid agreement
B. Void agreement
C. Voidable agreement
D. None of above

Which one of the following is the agreement that is enforceable by law?
A. Contract
B. An agreement
C. Both (a) and (b)
D. None of above

The Section 5 of the Contract Act, deals with which one of the followings;
A. Communication of contract
B. Revocation of proposals and acceptances
C. Acceptance of contracts
D. None of above

Which one of the following is the agreement that is ceases to be enforceable by law becomes void when it ceases to be enforceable?
A. Valid contract
B. Void contract
C. Voidable contract
D. None of

Sameed proposes by letter to sell a house to Shahzeb. When the Communication of the proposal in between Sameed and Shahzeb is complete?
A. When Sameed make such proposal
B. When Shahzeb accepts the proposal

C. Both (A) and (B)
D. None of above

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