Courses

Login
New User

Login

New User? Sign Up

Forgot Password?

New User? Sign Up

Create an Account

I accept the Terms & Conditions.

Already Have an Account? Login

Test: Business Laws - 4

40 Questions MCQ Test Mock Tests & Past Year Papers for CA Foundation | Test: Business Laws - 4

Description

This mock test of Test: Business Laws - 4 for CA Foundation helps you for every CA Foundation entrance exam. This contains 40 Multiple Choice Questions for CA Foundation Test: Business Laws - 4 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Business Laws - 4 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Business Laws - 4 exercise for a better result in the exam. You can find other Test: Business Laws - 4 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.

QUESTION: 1

An agreement which is enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others is a

A.
valid contract
B.
void contract
C.
voidable contract
D.
illegal contract

Solution:

QUESTION: 2

An agreement, the object or consideration of which is unlawful, is

A.
void
B.
valid
C.
voidable
D.
contingent

Solution:

QUESTION: 3

If A agrees to deliver 100 kg of sugar to B in exchange of 15 meters of cloth, then it is

A.
contract of sale
B.
agreement to sell
C.
sale on approval
D.
barter

Solution:

QUESTION: 4

Agreement-the meaning of which is uncertain is

A.
valid
B.
void
C.
voidable
D.
illegal

Solution:

QUESTION: 5

Which of the following statement is true?

A.
Consideration must result in a benefit to both parties.
B.
Past consideration is no consideration in India.
C.
Consideration must be adequate.
D.
Consideration must be something, which a promisor is not already bound to do.

Solution:

QUESTION: 6

Ordinarily, a minor`s agreement is`

A.
void ab initio
B.
voidable
C.
valid
D.
unlawful

Solution:

QUESTION: 7

A stipulation which is collateral to the main purpose of the contract, and if proves false, gives the buyer only a right to claim damages, is known as

A.
conditions
B.
guarantee
C.
warranty
D.
None of these

Solution:

QUESTION: 8

Doctrine of Caveat Emptor means

A.
let the seller beware
B.
let the buyer beware
C.
let the creditor beware
D.
None of the above

Solution:

QUESTION: 9

When the consent of a party is not free, the contract is

A.
void
B.
voidable
C.
valid
D.
illegal

Solution:

QUESTION: 10

A minor`s liability for `necessaries` supplied to him

A.
arises after he attains majority age
B.
is against only minor`s property
C.
does not arise at all
D.
arises if minor gives a promise for it

Solution:

QUESTION: 11

Which of the following is false?To make an offer valid, it must

A.
intend to create legal relations
B.
have certain and unambiguous terms
C.
contain a term the non-compliance of which would amount to acceptance
D.
be communicated to the person to whom it is made

Solution:

QUESTION: 12

An auction sale is complete on the

A.
delivery of goods
B.
payment of price
C.
fall of hammer
D.
None of the above

Solution:

QUESTION: 13

Active partner is one who

A.
takes part in the business of the firm
B.
actively participates in co-curricular activities
C.
actively shares the profits
D.
makes a show of authority

Solution:

QUESTION: 14

Registration of a firm is

A.
compulsory
B.
optional
C.
occasional
D.
None of the above

Solution:

QUESTION: 15

Which of the following is not a form of delivery?

A.
Constructive delivery
B.
Structured delivery
C.
Actual delivery
D.
Symbolic delivery

Solution:

QUESTION: 16

In the absence of agreement, to the contrary, all partners are

A.
not entitled to share profits
B.
entitled to share profits in capital ratio
C.
entitled to share in proportion to their ages
D.
entitled to share profits equally

Solution:

QUESTION: 17

Selection of goods with the intention of using them in performance of the contract and with the mutual consent of the seller and the buyer is known as

A.
distribution
B.
appropriation
C.
amortisation
D.
storage

Solution:

QUESTION: 18

Death of partner has the effect of

A.
dissolving the firm
B.
result in continuance of the business of the firm
C.
his heirs joining the firm
D.
computation of profits upto the date of death

Solution:

QUESTION: 19

A, B and C jointly promised to pay Rs. 60,000 to D. Before performance of the contract, C dies. Here, the contract

A.
becomes void on C`s death
B.
should be performed by A and B along with C`s legal representatives
C.
should be performed by A and B alone
D.
should be renewed between A, B and D

Solution:

QUESTION: 20

Goods which are in existence at the time of the Contract of Sale is known as

A.
present goods
B.
existing goods
C.
specific goods
D.
None of the above

Solution:

QUESTION: 21

Which of the following is not an exception to the rule "no consideration, no contract"?

A.
Compensation for involuntary services
B.
Love and affection
C.
Contract of agency
D.
Gift

Solution:

QUESTION: 22

Which of the following is not an implied condition in a contract of sale?

A.
Condition as to title
B.
Condition as to description
C.
Condition as to free from encumbrance
D.
Condition as to sample

Solution:

QUESTION: 23

G paid Rs. 1,00,000 to H to influence the head of the Government Organisation in order to provide him some employment. On his failure to provide the job, G sued H for recovery of the amount. Which of the following is correct?

A.
The contract is valid and G can recover the amount from H.
B.
The contract is void as it is opposed to public policy and G cannot recover.
C.
G can recover the amount with interest.
D.
G can recover the amount of Rs. 1,00,000 and damages.

Solution:

QUESTION: 24

A mistake as to a law not in force in India has the same effect as

A.
mistake of fact
B.
mistake of Indian law
C.
fraud
D.
misrepresentation

Solution:

QUESTION: 25

Mercantile Agent is having an authority to

A.
sell or consign goods
B.
raise money on the security of goods
C.
sell or buy goods
D.
any of the above

Solution:

QUESTION: 26

The most important element in partnership is

A.
business
B.
sharing of profits
C.
agreement
D.
business to be carried on by all or any of them acting for all

Solution:

QUESTION: 27

Which of the following statements, about the registration of firm, is not true?

A.
It must be done at the time of its formation.
B.
It may be done at the time of formation.
C.
It may be done before filing a suit against third party.
D.
It may be done at any time after its formation.

Solution:

QUESTION: 28

The threat to commit suicide amounts to

A.
coercion
B.
undue Influence
C.
misrepresentation
D.
fraud

Solution:

QUESTION: 29

A agrees to pay Rs. 5 lakhs to B if he (B) procures an employment for A in Income Tax Department. This agreement is

A.
void
B.
valid
C.
voidable
D.
contingent

Solution:

QUESTION: 30

A partner can retire on

A.
reaching the age of superannuation
B.
on the balance in the capital account reaching a certain amount
C.
in accordance with the Partnership Deed
D.
on the condition of his nominee becoming a partner

Solution:

QUESTION: 31

An agreement is void if it is opposed to public policy.
Q. Which of the following is not covered by heads of public policy?

A.
Trading with an enemy
B.
Trafficking in public offices
C.
Marriage brokerage contracts
D.
Contracts to do impossible acts

Solution:

QUESTION: 32

A contingent contract is

A.
void
B.
voidable
C.
valid
D.
illegal

Solution:

QUESTION: 33

Generally, which of the following damages are not recoverable?

A.
Ordinary damages
B.
Special damages
C.
Remote damages
D.
Nominal damages

Solution:

QUESTION: 34

A sold a tin of disinfectant powder to K without warning knowing fully that if the tin was not opened with care, it will likely to cause injury. K was injured while opening the tin.
Q. Which of the following statement(s) is/are correct?

A.
A is not liable to K under the Doctrine of caveat emptor.
B.
A is liable for the damages.
C.
A has no duty to disclose the facts to K.
D.
The buyer has the responsibility to enquire about all the things before purchasing the goods.

Solution:

QUESTION: 35

The term "goods" under Sale of Goods Act, 1930 does not include

A.
goodwill
B.
actionable claims
C.
stocks and shares
D.
harvested crops

Solution:

QUESTION: 36

A agrees to sell his car worth Rs. 100,000 to B for Rs. 20,000 only, and A`s consent was obtained by coercion. Here, the agreement is

A.
void
B.
valid
C.
voidable
D.
unlawful

Solution:

QUESTION: 37

The reconstitution of the firm takes place in case of

A.
admission of a partner
B.
retirement of a partner
C.
expulsion or death of a partner
D.
All of the above

Solution:

QUESTION: 38

Which of the following persons can perform the contract?

A.
Promisor alone
B.
Legal representatives of promisor
C.
Agent of the promisor
D.
All of these

Solution:

QUESTION: 39

On dissolution, the partners remain liable till

A.
accounts are settled
B.
partners' dues are paid off
C.
public notice is given
D.
the registrar strikes off the name

Solution:

QUESTION: 40

A contract for the sale of "future goods" is

A.
a sale
B.
an agreement to sell
C.
void
D.
a hire-purchase contract

Solution:

Recommended Tests

CA - CPT ICAI Model Test Paper - 1
Test | 200 questions

Test: Introduction To Accounting - 1
Test | 20 questions

Test: Probability And Expected Value By Mathematical Expectation- 1
Test | 40 questions

Test: The Sale Of Goods Act, 1930- 1
Test | 40 questions

Test: Ratio And Proportion, Indices, Logarithms - 3
Test | 40 questions

Related tests

Test: Business Laws - 4
Test | 40 questions | 60 min

Test: Business Laws - 2
Test | 25 questions | 30 min

Test: Business Laws - 1
Test | 25 questions | 30 min

Test: Business Laws - 5
Test | 40 questions | 60 min

Test: Business Laws - 3
Test | 25 questions | 30 min

By continuing, I agree that I am at least 13 years old and have read and agree to the terms of service and privacy policy.

Why do I need to sign in?

EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something.

What do I get?

125,000
Videos & Docs

500
Courses

15,000
Tests

2.5 Mn
Study Partners

I have an EduRev Account • Sign Up with Email

Schools

Medical
Non- Medical
Commerce
Humanities
CBSE Class 10
CBSE Class 9
CBSE Class 8
CBSE Class 7
CBSE Class 6
CBSE Class 5
CBSE Class 4
CBSE Class 3
CBSE Class 2
CBSE Class 1
NCERT Solutions
NCERT Textbooks
NCERT

Competitive Examinations

NEET
JEE
CLAT
UPSC
CAT
GMAT
GATE
Railways
SSC
IIT JAM
Defence
Insurance
Teaching
CA Foundation

Technical Exams

GATE
SSC JE
RRB JE
Civil Engineering
Computer Science Engineering
Electrical Engineering
Electronics Engineering
Biotechnology Engineering
Mechanical Engineering
Chemical Engineering

Company

Home
View all Courses
EduRev App
Search for Anything
About Us
FAQs
Pricing
EduRev News
Contact Us
T & C

Test: Business Laws - 4

40 Questions MCQ Test Mock Tests & Past Year Papers for CA Foundation | Test: Business Laws - 4

An agreement which is enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others is a

An agreement, the object or consideration of which is unlawful, is

If A agrees to deliver 100 kg of sugar to B in exchange of 15 meters of cloth, then it is

Recommended Content

Recommended Tests

Similar Content

Evolution Test-4

Solution- Matrices Test- 4

Test Paper 4 Solution

Solution Determinants Test- 4

Related tests

Schools

Competitive Examinations

Quick Access Links

Technical Exams

Company