Test: Business Laws - 1


25 Questions MCQ Test Business Laws for CA Foundation | Test: Business Laws - 1


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This mock test of Test: Business Laws - 1 for CA Foundation helps you for every CA Foundation entrance exam. This contains 25 Multiple Choice Questions for CA Foundation Test: Business Laws - 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Business Laws - 1 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Business Laws - 1 exercise for a better result in the exam. You can find other Test: Business Laws - 1 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

Who can accept the offer?

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QUESTION: 2

An offer does not lapse due to

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QUESTION: 3

An offer, when accepted, becomes a/an

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A Proposal when accepted becomes a promise. In simple words, when an offer is accepted it becomes promise.

QUESTION: 4

Which of the following is a valid offer?

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QUESTION: 5

If there is no time specified for the delivery of goods, then the goods should be delivered

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QUESTION: 6

An offer must create _____ relationship.

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QUESTION: 7

Which of the following can be classified on the basis of validity or enforceability?

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Correct Answer :- a

Explanation :  Implied can be classified on the basis of validity or enforceability.

An implied contract is one for which the proposal or acceptance is made otherwise than in words. Where the proposal or acceptance of any promise is made otherwise than in words, the promise is known as implied promise. Implied contracts are inferred from the circumstances of the case and conduct of the parties.

For example, when A takes a cup of milk in a hotel, there is an implied contract.

QUESTION: 8

_________ creates rights and obligations between the parties concerned.

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QUESTION: 9

A contract which ceases to be enforceable by law becomes

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QUESTION: 10

Which of the following are not a part of existing goods?

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QUESTION: 11

Formal contracts are _________ under the Indian law.

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QUESTION: 12

A partnership firm is

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QUESTION: 13

Who among the following is competent to enter into a valid contract?

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QUESTION: 14

Which of the following is/are not the subject matter of a contract of sale?

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QUESTION: 15

The assets of partnership firm is/are

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QUESTION: 16

Which of the following is a consideration in the sales of goods?

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QUESTION: 17

A contract where one of the parties has performed and the performance of the other party is due is called

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QUESTION: 18

The person who accepts the proposal is called

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When the proposal is accepted, the person making the proposal is called as promisor and the person accepting the proposal is called as promisee.

QUESTION: 19

A _____ offer is also known as continuing offer.

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QUESTION: 20

Which of the following acts by partners is not considered as an act done by partnership firm?

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QUESTION: 21

The consideration may be

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QUESTION: 22

When does a partnership firm need to be dissolved?

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QUESTION: 23

An agreement to sale becomes the contract of sale

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QUESTION: 24

`Third party` in partnership firm means

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QUESTION: 25

All void agreements are

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