Test: Additional Question Bank Of Mercantile Law - 2


19 Questions MCQ Test Mercantile Law for CA CPT | Test: Additional Question Bank Of Mercantile Law - 2


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QUESTION: 1

Amar, Akbar and Anthony jointly started business of supplying cottons and agreed to share profits equally through oral agreement on 01.03.2007. Amar and Akbar are active partners, while Anthony is a sleeping partner.

 

Q.If Akbar becomes insane, and Anthony files a suit. Can the court pass an order for dissolution?

Solution:
QUESTION: 2

Amar, Akbar and Anthony jointly started business of supplying cottons and agreed to share profits equally through oral agreement on 01.03.2007. Amar and Akbar are active partners, while Anthony is a sleeping partner.

 

Q.If Amar becomes insane, and his friend files a suit. Can the court pass an order for dissolution?

Solution:
QUESTION: 3

Amar, Akbar and Anthony jointly started business of supplying cottons and agreed to share profits equally through oral agreement on 01.03.2007. Amar and Akbar are active partners, while Anthony is a sleeping partner.

 

Q.If Anthony becomes insane, and Akbar files a suit. Can the court pass an order for dissolution?

Solution:
QUESTION: 4

Amar, Akbar and Anthony jointly started business of supplying cottons and agreed to share profits equally through oral agreement on 01.03.2007. Amar and Akbar are active partners, while Anthony is a sleeping partner.

 

Q.If Amar applies for insolvency on 01.06.2007 and is declared insolvent on 01.08.2007.

Solution:
QUESTION: 5

Which of the following is the requirement of a valid contract for Sale?

Solution:
QUESTION: 6

Which of the following is a mode of contract of sale?

Solution:
*Multiple options can be correct
QUESTION: 7

Which of the following goods is not in existence at the time of contract of sale?

Solution:
*Multiple options can be correct
QUESTION: 8

Under the provision ‘goods perishing before the making of the contract’, contract of sale of goods is void if

Solution:
*Multiple options can be correct
QUESTION: 9

The option available to the Hirer in case of Hire Purchase Agreement?

Solution:
*Multiple options can be correct
QUESTION: 10

Which of the following is not a typical sale?

Solution:
*Multiple options can be correct
QUESTION: 11

Which of the following statement is true?

Solution:
QUESTION: 12

Problem: A agrees to sell 50 Refrigerators to B, at a price to be determined by C. 30 of 50 Refrigerators are delivered to B.

 Q.B agreed to the above agreement, without asking the dealer whether the refrigerators are fit to make ice and paid the determined consideration. The refrigerators failed to make ice.

Solution:
QUESTION: 13

Problem: A agrees to sell 50 Refrigerators to B, at a price to be determined by C. 30 of 50 Refrigerators are delivered to B.

Q.What would be the legal position if C denies to determine the price?

Solution:
QUESTION: 14

Problem: A agrees to sell 50 Refrigerators to B, at a price to be determined by C. 30 of 50 Refrigerators are delivered to B.

Q.What would be the legal position if B prevents C from determining the price?

Solution:
QUESTION: 15

Problem: A agrees to sell 50 Refrigerators to B, at a price to be determined by C. 30 of 50 Refrigerators are delivered to B.

Q.If 20 refrigerators are stolen at time of making contract, the abovesaid contract becomes

Solution:
QUESTION: 16

Problem: A delivers bags of cements to B on ‘Sale on approval basis’ for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.

Q.The loss is to be borne by

Solution:
QUESTION: 17

Problem: A delivers bags of cements to B on ‘Sale on approval basis’ for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.

Q.If the cement became stone, after being accepted by B, the loss is to be borne by:

Solution:
QUESTION: 18

Problem: A delivers bags of cements to B on ‘Sale on approval basis’ for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.

Q.If B retains the good and gives notice of rejection on the fourth day, the loss is to be borne by:

Solution:
QUESTION: 19

Problem: A delivers bags of cements to B on ‘Sale on approval basis’ for 10 days. The cement became stone due to heavy rainfall (without any fault of B) on the fifth day itself.

Q.If B neither returns nor rejects the bags till the tenth day and eventually the damage occurs on the eleventh day. The loss shall be borne by:

Solution: