Class/Course - CA - CPC

Subject - Mercantile Laws

Total Number of Question/s - 3258


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  • 1. Nature of Contracts - Quiz

    1. M/s. Law Book Company made an offer to sell a new law book released recently only to the members of Bar Council. This offer is called: 
    a) General offer 
    b) Specific offer
    c) Implied offer
    d) Invitation to offer

    2. __________ is one sided contract in which only one party has to perform.
    a) Unilateral contract
    b) Bilateral contract
    c) Illegal contract
    d) Unenforceable contract

  • 2. Consideration - Quiz

    1. Which of the following is not the essentials of a valid consideration?
    a) Consideration must be at the desire of the promisor
    b) Consideration may move from promise or any other person
    c) Consideration may be past, present or future
    d) Consideration must be adequate

    2. Consideration is defined in the Indian Contract Act, 1872 in:
    a) Section 2(f)
    b) Section 2(e)
    c) Section 2(g)
    d) Section 2(d)

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

    1. Can a person who is usually of unsound mind, but occasionally of sound mind, make a contract?
    a) Yes, but only when he is of sound mind
    b) Yes, he can always make a contract
    c) No, he cannot made a contract
    d) Can’t be determined

    2. In Coercion _________pressure is applied.
    a) Physical
    b) Mental
    c) Both (a) and (b)
    d) None of these

  • 4. Performance of Contract - Quiz

    1. When an inferior right accruing to a party in a contract merges into a superior right accruing to the same party, then :
    a) The contract conferring the superior right is discharged
    b) The contract conferring the inferior right is discharged
    c) Both contracts are not discharged
    d) Both contracts are discharged

    2. Rescission of a voidable contract is communicated and revoked in the same manner as the communication of revocation of :
    a) Proposal
    b) Acceptance
    c) Breach
    d) Impossibility

  • 5. Breach of Contract - Quiz

    1. 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

    2. If a party refuses to performs his part of promise before the due date of performance, it is known as:-
    a) Advance breach of contract.
    b) Anticipatory breach of contract.
    c) Actual breach of contract
    d) Accidental breach of contract

  • 6. Contingent and Quasi - Contracts - Quiz

    1. A supplies necessaries of life to B who is a son of a mental retarded person. A is entitled to be reimbursed out of B’s property. This is :
    a) An agreement with contract
    b) An agreement without contract
    c) A gratuitous agreement
    d) A Quasi contract

    2. A contingent contract is a/an:
    a) Absolute contract
    b) Conditional contract
    c) Uncertain contract
    d) Unenforceable contract

  • 7. Formation of Contract of Sale - Quiz

    1. Which of the following statements is not correct in relation to hire-purchase?
    a) The property in goods passes to the hirer along with its possession
    b) The hirer is deemed to be a bailee till the payment of last installment
    c) The hirer may terminate the contract by returning the goods
    d) The hirer cannot transfer any title.

    2. Price list is a ____________.
    a) Invitation to offer.
    b) Offer.
    c) Both (a) & (b)
    d) None of the above.

  • 8. Conditions and Warranties - Quiz

    1. Conditions which are presumed by law to be present in the contract are called
    a) Express Conditions
    b) Qualified Conditions
    c) Implied Conditions
    d) Unqualified Conditions

    2. Enjoying of goods without any disturbance, free from any charges and quality by usage of trade. These imply:
    a) Implied condition
    b) Implied warranty
    c) Both (a) and (b)
    d) Neither (a) nor (b)

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

    1. S was shopping in a self service super market. He picked up a bottle of mange squash from a shop and while examining it the bottle exploded in his hand and injured him. Can S claim damages for the injury?
    a) S cannot claim damages
    b) S can claim damages
    c) S has to pay price for the bottle
    d) None

    2. Passing of property in goods constitutes the most important element in deciding the legal rights and liabilities of the________.
    a) Sellers
    b) Buyers
    c) Sellers and Buyers both
    d) None of the above.

  • 10. Unpaid Seller - Quiz

    1. Which of the following is a right of an unpaid seller?
    a) Right of Lien
    b) Right of Stoppage in transit
    c) Both (a) & (b)
    d) None of these

    2. Unpaid seller can have right of :
    a) Right of lien
    b) Right of stoppage in transit
    c) Both
    d) None

  • 11. General Nature of a Partnership - Quiz

    1. Interest on capital will be allowed only when:
    a) There are heavy losses in the firm
    b) There are no profits and no losses
    c) There are profits
    d) Always

    2. A rented a house from X for carrying on the business of the firm. After one month A did not pay the rent. B and C are other partners of the firm. X can claim his rent from:
    a) A only
    b) All the Partners
    c) B and C only
    d) A and C only

  • 12. Relations of Partners - Quiz

    1. According to the Indian Partnership Act, 1932. the term act of the firm means an act or omission by ___________ which gives an enforceable right to or against the firm:
    a) Any partner
    b) All the partner
    c) Agent of the firm
    d) Any of the above.

    2. A new partner can be admitted in the firm with the consent of:
    a) All the partners
    b) Majority of partners
    c) Partner with maximum capital contribution
    d) With the permission of Registrar

  • 13. Registration and Dissolution of a Firm - Quiz

    1. X, Y and Z are partners in a firm. Y and Z died in an accident. X continues the business in the name of the firm?
    a) X cannot continue the business of the firm
    b) X can continue the business of the firm
    c) X alone cannot run a firm
    d) X and legal representative of x and y will have to run the business of the firm

    2. A partnership firm will not be Compulsory dissolved if __________.
    a) One of the partners of the firm becomes insolvent
    b) The business of the firm becomes illegal.
    c) Only one of the several business which can be separated from the other business of the firm becomes illegal.
    d) The different business run by the firm cannot be separated.