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Test: Unpaid Seller- 1 - CA Foundation MCQ

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30 Questions MCQ Test Business Laws for CA Foundation - Test: Unpaid Seller- 1

Test: Unpaid Seller- 1 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation. The Test: Unpaid Seller- 1 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Unpaid Seller- 1 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Unpaid Seller- 1 below.

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Test: Unpaid Seller- 1 - Question 1

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Right against goods include:

A.
Right of Rem
B.
Right of Personam
C.
Both
D.
None

Test: Unpaid Seller- 1 - Question 2

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Even if a substantial portion of the price is paid and only a small balance is pending, the seller is still regarded as an Unpaid Seller. This statement is :

A.
True
B.
Partly true
C.
False
D.
Partly false

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Test: Unpaid Seller- 1 - Question 3

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Discharge may be:

A.
By operation of law
B.
By mutual agreement
C.
By lapse of time
D.
All of the above

Test: Unpaid Seller- 1 - Question 4

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The unpaid seller is not required to inform the buyer in case he resells the goods but the goods must be:

A.
Perishable goods
B.
Non-perishable goods
C.
Durable goods
D.
Consumer goods

Test: Unpaid Seller- 1 - Question 5

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P sells a car by auction to Q, who is the highest bidder. Q offers to pay for the car by a cheque and he is allowed to do so provided he signs a document stating that the property in the car would not pass to him until the amount of the cheque has been credited to the seller’s account. The cheque is subsequently dishonoured. P asks Q to return back the car as he has not become the owner of the car because the cheque given by him has been dishonoured. Decide:

A.
Yes, P’s contention is justified
B.
No, P’s contention is not justified
C.
Car should be re-auctioned by Q
D.
None of these

Test: Unpaid Seller- 1 - Question 6

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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

Test: Unpaid Seller- 1 - Question 7

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Unpaid seller has which rights against the buyer personally:

A.
To sue for the price
B.
To sue for damages
C.
To sue for interest
D.
All of these

Test: Unpaid Seller- 1 - Question 8

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Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?

A.
He must be unpaid either wholly or partly
B.
He must have not refused payment when tendered
C.
He must have sold goods against cash or in exchange of other thing
D.
He must have an immediate right of action for the price

Test: Unpaid Seller- 1 - Question 9

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Right to bid may be reserved:

A.
Expressly by seller
B.
Expressly by buyer
C.
Expressly by auctioneer
D.
All of these

Test: Unpaid Seller- 1 - Question 10

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Sale is a “right in rem”

A.
No
B.
Yes
C.
Depends on the direction of court
D.
None of the above

Test: Unpaid Seller- 1 - Question 11

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Where the seller expressly reserves the right of resale in case the buyer makes a default. If there are losses to the seller, on a resale, the seller:

A.
Cannot claim the same form the buyer as damages
B.
Can claim the same from the buyer as damages
C.
Sue the buyer for not purchasing
D.
None of the above

Test: Unpaid Seller- 1 - Question 12

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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

Test: Unpaid Seller- 1 - Question 13

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Auction sale comes to an end when.

A.
Delivery of goods
B.
Payment of cash
C.
Fall of hammer
D.
None of the above

Test: Unpaid Seller- 1 - Question 14

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Where the goods are of a perishable nature unpaid seller can :

A.
Sue for price
B.
Repudiate the contract before due date
C.
Resale the goods
D.
Sue for damages

Test: Unpaid Seller- 1 - Question 15

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An auction sale is complete on the:

A.
Fall of hammer
B.
Delivery of good
C.
Payment of price
D.
Both (b) and (c)

Test: Unpaid Seller- 1 - Question 16

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The minimum price below which the auctioneer will not sell the goods.

A.
Stock price
B.
Reserve price
C.
Upset Price
D.
Either (b) or (c)

Detailed Solution for Test: Unpaid Seller- 1 - Question 16

The goods for sale at the auction may be subject to a reserve price or an upset price. The auctioneer cannot sell the goods below this price.

Test: Unpaid Seller- 1 - Question 17

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The minimum price below which the auctioneer will not sell the goods is called:

A.
Stock price
B.
Reserve price
C.
Upset Price
D.
Either (b) or (c)

Test: Unpaid Seller- 1 - Question 18

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An auction sale is complete on __________.

A.
Delivery to the carrier
B.
Delivery to the buyer
C.
Fall of hammer
D.
None of the above

Test: Unpaid Seller- 1 - Question 19

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The essence of ‘Right of Lien’ is to _______.

A.
Retain possession
B.
Regain possession
C.
Sell the goods
D.
All of the above

Test: Unpaid Seller- 1 - Question 20

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Unpaid seller can have right of :

A.
Right of lien
B.
Right of stoppage in transit
C.
Both
D.
None

Test: Unpaid Seller- 1 - Question 21

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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

Test: Unpaid Seller- 1 - Question 22

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Reserve price is considered in _________:

A.
Sale by sample
B.
Sale by description
C.
Sale by auction
D.
All the above.

Test: Unpaid Seller- 1 - Question 23

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Jus in personam means; right against:

A.
Specific person
B.
Specific goods
C.
Public at large
D.
None of these

Test: Unpaid Seller- 1 - Question 24

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If the goods are rejected by the buyer, and the carrier or other bailee continues in possession of them, then the transit ________even if the seller has refused to receive them back:

A.
Is deemed to be at an end
B.
Is not deemed to be at an end
C.
In nobody’s hand
D.
None of the above

Test: Unpaid Seller- 1 - Question 25

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Right of lien means to _______:

A.
Regain possession of goods
B.
Retain possession of goods
C.
Give away possession of goods
D.
All of types

Test: Unpaid Seller- 1 - Question 26

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When the goods are sold on credit and credit period is not expired, the seller of goods is:

A.
Called unpaid seller
B.
Is not the seller at all
C.
Not called an unpaid seller
D.
None of the above

Test: Unpaid Seller- 1 - Question 27

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An auctioneer is:-

A.
A seller
B.
An unpaid seller
C.
An agent governed by law of agency
D.
The principal of the seller

Test: Unpaid Seller- 1 - Question 28

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Seller has right of resale where

A.
Goods are perishable
B.
Seller has reserved such right
C.
Seller gives notice
D.
All of these

Test: Unpaid Seller- 1 - Question 29

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Right of general lien cannot be exercised by

A.
Factor
B.
Banker
C.
Auctioneer
D.
All of theses.

Test: Unpaid Seller- 1 - Question 30

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In pretended bidding sale is :

A.
Voidable at the option of the buyer
B.
Voidable at the option of the seller
C.
It is legal and nothing can be done
D.
Buyer can ask for the goods at discounted rate

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