Class/Course - CA - CPC

Subject - Mercantile Laws

Total Number of Question/s - 3258


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  • 1. Nature of Contracts - Quiz

    1. Collateral agreement to an illegal agreement is:
    a) Void
    b) Valid
    c) Lawful
    d) Enforceable

    2. In an auction sale, X is the highest bidder. The auctioneer accepts the offer by not speaking but striking the hammer on the table. This amounts to:
    a) Express acceptance
    b) Implied acceptance
    c) Future acceptance
    d) No acceptance

  • 2. Consideration - Quiz

    1. Consideration in India is:
    a) Past consideration
    b) Present consideration
    c) Future consideration
    d) Past, Present or future consideration

    2. Past consideration is valid in.
    a) England only
    b) India only
    c) Both
    d) None

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

    1. A sum of money was agreed to be paid to the father in consideration of his giving her daughter in marriage. The agreement is void on ground’s of being:
    a) Restraint of marriage
    b) Marriage brokerage contract
    c) Restraint of personal liberty
    d) Restraint of legal proceedings

    2. In case, through the husband was a divorcee, he did not disclose the fact of his previous marriage to his wife and in-laws. It was held that the consent was obtained by:
    a) Mistake
    b) Misrepresentation
    c) Fraud
    d) Undue influence

  • 4. Performance of Contract - Quiz

    1. A enters into a contract with B for dancing at his theatre for three nights for a fee of Rs. 2,00,000. A dances for two nights and is faller ill. What remedy is available to B?
    a) B can repudiate the contract
    b) B can claim damages from A
    c) B is not bound to pay fees
    d) B cannot claim damages from A

    2. X contract with Y to sell his imported car for Rs. 50,000. Later on both the parties decide not be honour the deal. This is a case of discharge of contract by
    a) Novation
    b) Alteration
    c) Rescission
    d) Remission

  • 5. Breach of Contract - Quiz

    1. Damages which an aggrieved party claim besides general damages for any loss he has suffered owing to special circumstances known to both the parties at the time of signing the contract are known as :
    a) General damages
    b) Special damages
    c) Nominal damages
    d) Vindictive damages

    2. The damages awarded by way of punishment are:
    a) Vindictive damages
    b) Special damages
    c) Nominal damages
    d) Ordinary damages

  • 6. Contingent and Quasi - Contracts - Quiz

    1. The Indian Contract Act deals with the following Quasi –
    Contractual Obligations:
    (i)  Claim for necessaries supplied to a person incompetent to contract
    (ii)  Responsibility of finder of goods
    (iii) Re – imbursement of money paid, due by another
    (iv) Obligation of person enjoying benefit of non – gratuitous act
    a) (ii) & (iii)
    b) (i) & (ii)
    c) (i), (ii), (iii) & (iv)
    d) (iii) & (iv)

    2. Ashok Kumar is a famous hockey coach. He agrees to impart training in hockey to Sachine, who is a minor at a remuneration of Rs. 10,000 per month. This is a
    a) Void Agreement
    b) Voidable Contract
    c) Quasi Contract
    d) Contingent Contract

  • 7. Formation of Contract of Sale - Quiz

    1. Goods means every kind of movable property including:
    a) Actionable claims and currency money
    b) Old Currency notes
    c) Goodwill and copyright
    d) Both (b) and (c)

    2. Movable property dose not include money but includes –
    a) Stocks and shares
    b) Grass
    c) Growing crops
    d) All of the above

  • 8. Conditions and Warranties - Quiz

    1. Implied conditions include:
    a) Conditions as to title
    b) Condition in case of sale by description
    c) Condition in case of sale by sample
    d) All of these

    2. X, contracts to buy from Y 1000 bags of cement. Y sends 1000 bags through truck. When cement arrives it becomes stone by the contract of rainwater. Can X reject the goods?
    a) Yes – breach of condition as to wholesomeness
    b) Yes – conditions as to merchantability
    c) No – Y never knew himself
    d) No – X should have seen it

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

    1. If the seller sends to the buyer a larger or smaller quantity of goods than the quantity he contracted to sell, the buyer may
    a) Reject the whole
    b) Accept the whole
    c) Accept the quantity ordered and reject the rest.
    d) All of the above.

    2. As per the Sale of Goods Act, 1930 physical delivery of goods is not an essential element of contract of sale. This statement is_______.
    a) True
    b) False
    c) Partly true
    d) Can’t say

  • 10. Unpaid Seller - Quiz

    1. The rights available to an unpaid seller of goods under the Sale of Goods Act, 1930 are:
    a) Lien on goods only
    b) Stoppage of goods in transit only
    c) Right to resell
    d) All the above

    2. The essence of ‘Right of Lien’ is to _______.
    a) Retain possession
    b) Regain possession
    c) Sell the goods
    d) All of the above

  • 11. General Nature of a Partnership - Quiz

    1. Mode of determining existence of partnership is
    a) Real relations between the parties
    b) Sharing the profits of the firm
    c) Business to be carried by all or anyone acting for all
    d) All of the above.

    2. Which of these statements is not true with respect to a Joint Hindu Family Business?
    a) It can have female members
    b) A Joint Hindu Family firm arises on the basis of status i.e. Birth or by operation of law
    c) Death of a coparcener does not dissolve the Joint Hindu Family firm
    d) Coparcener is liable only to the extent of his share in the family property

  • 12. Relations of Partners - Quiz

    1. A partner may be expelled from the firm on the fulfillment of the condition that the expulsion power is exercised ______:
    a) In good faith
    b) As given by express contract
    c) By majority of partners
    d) All of these

    2. In case of ___________ the continuing guarantee given to the partnership in respect to the transactions of the firm, is revoked for the future transactions.
    a) Dissolution of firm
    b) Insolvency of a partner
    c) Change in constitution of the firm
    d) None of the above.

  • 13. Registration and Dissolution of a Firm - Quiz

    1. An unregistered firm may institute a suit if the value of the suit does not exceed:-
    a) Rs. 100
    b) Rs. 1,000
    c) Rs. 10,000
    d) Rs. 1, 00,000

    2. In a suit, a non-registered firm cannot claim set-off above__________.
    a) .100
    b) .5,000
    c) .50,000
    d) None