Class/Course - CA - CPC

Subject - Mercantile Laws

Total Number of Question/s - 3258

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  • 1. Nature of Contracts - Quiz

    1. A advertises to sell his old Car by advertising in a newspaper. This offer is called:
    a) General offer
    b) Special offer
    c) Continuing offer
    d) None of the above

    2. In telephonic conversation, the acceptance is completed when:
    a) The words are heard by offeror
    b) The words are spoken by offeree
    c) The words are heard and action is taken.
    d) None of these.

  • 2. Consideration - Quiz

    1. Which of the following statement is true :
    a) Consideration must be adequate
    b) Consideration must result in a benefit to both the parties
    c) Consideration must be something, which a promisor is not already bound to do
    d) Past consideration is no consideration in India

    2. There can be a stranger to a
    a) Contract
    b) Promise
    c) Agreement
    d) Consideration

  • 3. Other Essential Elements of a Valid Contract - Quiz

    1. Which of the following agreements are expressly declared void by the Indian Contract Act?
    a) Agreement made without consideration
    b) Agreement by a minor or a person of unsound mind
    c) Agreement in restraint of marriage
    d) Agreement of which the consideration and object are unlawful

    2. Every person having attained the age of majority i.e. __________ years is competent to contract.
    a) 21 years
    b) 16 years.
    c) 1 day after 18
    d) 1 day before 18.

  • 4. Performance of Contract - Quiz

    1. A agrees to pay Rs. 10,000 to B after 2 years. During this period B dies. After 2 years, B’s son C claims the amount from A. C’s claim is __________
    a) Invalid
    b) Enforceable
    c) Not enforceable
    d) Unlawful.

    2. Supervening impossibility is related to:-
    a) Frustration
    b) Quid pro Quo
    c) Privity of contract
    d) None of the above

  • 5. Breach of Contract - Quiz

    1. G, a film star agreed to act exclusively for Y, a film producer, for one year. During the year, she contracted to act for some other producer. In this case, Y:
    a) Can restrain G by an injunction
    b) Cannot sue G at all
    c) Has to produce the firm with other actors only
    d) Cannot restrain G by an injunction

    2. Breach of contract on the due date is known as:
    a) Anticipatory Breach
    b) Actual Breach
    c) Both ‘A’ and ‘B’
    d) None of the above

  • 6. Contingent and Quasi - Contracts - Quiz

    1. The contract which are based on principle of equity, justice and good conscience are _______.
    a) Contingent Contract
    b) Quasi Contract
    c) Anticipatory Contract.
    d) Wagering Contract.

    2. Events in case of contingent contracts are:
    a) Collateral and Uncertain
    b) Certain and Collateral
    c) Collateral
    d) None of the above.

  • 7. Formation of Contract of Sale - Quiz

    1. The object of Sale is:
    a) To pass the possession of the goods.
    b) To pass the property of the goods.
    c) Both (a) and (b)
    d) None of the above

    2. If the goods are in a deliverable state, the buyer:
    a) Is bound to take delivery
    b) Is not bound to take delivery
    c) Has the option to take or not to take the delivery.
    d) All of the above

  • 8. Conditions and Warranties - Quiz

    1. A stipulation in a contract of sale with reference to goods which are the subject thereof may be---------------.
    a) A fair price
    b) A lawful price
    c) Condition and warranty
    d) Delivery

    2. In a contract of sale, ordinarily there is ________ as to the quality or fitness of goods for any particular purpose:
    a) An implied warranty
    b) An express warranty
    c) No implied warranty
    d) No express warranty

  • 9. Transfer of Ownership and Delivery of Goods - Quiz

    1. Risk prima facie passes with :-
    a) Property of ownership.
    b) Completed agreement.
    c) Verification and delivery of goods.
    d) Payment of price.

    2. If goods are rejected by the buyer and the carrier continues in possession of these, and the seller has refused to receive these back, the transit:
    a) Is at an end.
    b) Is deemed to be at an end.
    c) Is not deemed to be at an end.
    d) Is not affected at all.

  • 10. Unpaid Seller - Quiz

    1. If no notice of resale is given to the buyer, the unpaid seller is not entitled:
    a) To retain surplus if any under resale
    b) To recover any loss on resale of the goods
    c) Both (a) and (b)
    d) None of the above

    2. The right of lien of unpaid seller comes to an end when_____.
    a) He delivers the goods to the carrier
    b) The buyer or his agent lawfully obtains possession of goods
    c) The seller waives his right of lien
    d) In all the above cases

  • 11. General Nature of a Partnership - Quiz

    1. True test of partnership is:
    a) Share of profits only
    b) Share of profits & losses
    c) Mutual agency
    d) None of these

    2. Dormant partner is known as_________.
    a) Sleeping Partner
    b) Active Partner
    c) Partner by holding out
    d) All the above

  • 12. Relations of Partners - Quiz

    1. In case of __________ the continuing guarantee given to the firm or the third party in respect of the transaction of the firm, the continuing guarantee is revoked as to future transactions of the firm:
    a) Dissolution of the firm
    b) Death of partner
    c) Insolvency of partner
    d) Change in the constitution of the firm

    2. Share in Partnership can be transferred by consent of _______ the partner
    a) All
    b) Majority
    c) No consent required
    d) None of these

  • 13. Registration and Dissolution of a Firm - Quiz

    1. Which of the following are not affected by the non-registration of the firm?
    a) The right of a third party to sue the firm
    b) The right of a partner to file a suit for the dissolution of the firm
    c) The power of ‘official assignee’ to release the property of an insolvent partner
    d) All of the above

    2. In order to get a copy of the register of Registrar of firms, a firm is required to pay certain fees as prescribed by the law:
    a) True
    b) False
    c) Partly true
    d) None.