Test: Additional Question Bank Of Mercantile Law - 1


40 Questions MCQ Test Mercantile Law for CA CPT | Test: Additional Question Bank Of Mercantile Law - 1


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This mock test of Test: Additional Question Bank Of Mercantile Law - 1 for CA Foundation helps you for every CA Foundation entrance exam. This contains 40 Multiple Choice Questions for CA Foundation Test: Additional Question Bank Of Mercantile Law - 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Additional Question Bank Of Mercantile Law - 1 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Additional Question Bank Of Mercantile Law - 1 exercise for a better result in the exam. You can find other Test: Additional Question Bank Of Mercantile Law - 1 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
*Multiple options can be correct
QUESTION: 1

Which of the following statement is true?

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QUESTION: 2

The Contract Act of 1872 was enacted on

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QUESTION: 3

During smelting, an additional substance is added which combines with impurities to form a fusible product known as

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*Multiple options can be correct
QUESTION: 4

Which of the following are legal requirement of a valid acceptance?

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*Multiple options can be correct
QUESTION: 5

Which of the following are legal requirement of a valid consideration?

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QUESTION: 6

An agreement enforceable by law at the instance of one party & not of otherparty under section 2(i) is called

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*Multiple options can be correct
QUESTION: 7

Which are the following elements that affect the consent of the party?

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*Multiple options can be correct
QUESTION: 8

Which of the following are void contracts?

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*Multiple options can be correct
QUESTION: 9

Which of the following are legal requirement of a valid contingent contract?

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*Multiple options can be correct
QUESTION: 10

Which of the following statements are not correct?

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QUESTION: 11

X of Agrasends a letter by post to Y of Delhi offering to sell his car for Rs. 1,00,000. This letter is posted on 1st January and reaches Yon 7th January Y sends his acceptance by post on 10th January but X receives this letter of accep­tance on 15th January.

When is the communication of the offer complete?

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QUESTION: 12

When is the communication of the acceptance complete as against acceptor?

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QUESTION: 13

If X sends a telegram on 7th January revoking his offer, and his telegram reaches Y before the letter of the acceptance is posted. Is revocation of offer valid?

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QUESTION: 14

If Y sends a telegram on 13th January revoking his acceptance, and his telegram reaches X before the letter of the acceptance is received by Y. Is revocation of acceptance valid?

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QUESTION: 15

X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.

Q.If X, who is a dealer in coconut oil only, decides to sell @ Rs. 10,000/ton.

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QUESTION: 16

X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.

Q.If X is a dealer in coconut oil and price is not fixed 

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QUESTION: 17

X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.

Q.If X is a dealer in coconut oil and price is to be fixed by Z

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QUESTION: 18

X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.

Q.If X, who is a dealer in coconut oil agrees to sell at Rs. 10,000/ton or Rs. 11,000/ton

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QUESTION: 19

X agrees to sell to Y “one hundred tons of oil”. State the position of this agreement in the following cases.

Q.If X is a dealer in coconut oil and mustard oil 

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QUESTION: 20

X of Mumbai agreed to sell 1000 bales of cotton @ Rs. 999/bale and to deliver within a fortnight at buyers godown at Karachi. X failed to supply these goods. State the legal position in each case with explanation.

Q.If unknown to both the parties, the goods were destroyed by party at the time of agreement.

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QUESTION: 21

X of Mumbai agreed to sell 1000 bales of cotton @ Rs. 999/bale and to deliver within a fortnight at buyers godown at Karachi. X failed to supply these goods. State the legal position in each case with explanation.

Q.If X knew the goods were destroyed by fire at the time of agreement 

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QUESTION: 22

X of Mumbai agreed to sell 1000 bales of cotton @ Rs. 999/bale and to deliver within a fortnight at buyers godown at Karachi. X failed to supply these goods. State the legal position in each case with explanation.

Q.If war is declared between India & Pakistan 

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QUESTION: 23

X of Mumbai agreed to sell 1000 bales of cotton @ Rs. 999/bale and to deliver within a fortnight at buyers godown at Karachi. X failed to supply these goods. State the legal position in each case with explanation.

Q.If these goods were to be manufactured by Z who is ready to supply @ Rs. 1,111/bale because of unexpected increase in the cost of material and labour 

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QUESTION: 24

X of Mumbai agreed to sell 1000 bales of cotton @ Rs. 999/bale and to deliver within a fortnight at buyers godown at Karachi. X failed to supply these goods. State the legal position in each case with explanation.

Q.If these goods could not be delivered because of strike of transport operators 

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*Multiple options can be correct
QUESTION: 25

The essential elements of Partnership does not include:

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*Multiple options can be correct
QUESTION: 26

The partnership relation does not exist when

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*Multiple options can be correct
QUESTION: 27

_____________ does not takes active part in conduct of the business.

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*Multiple options can be correct
QUESTION: 28

The general rights of continuing partners include

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*Multiple options can be correct
QUESTION: 29

Doctrine of implied authority of a partner applies to the

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*Multiple options can be correct
QUESTION: 30

The partnership firms becomes an illegal association, when

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*Multiple options can be correct
QUESTION: 31

A partnership firm may not be registered with

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*Multiple options can be correct
QUESTION: 32

In case of a non-registered partnership firm….

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*Multiple options can be correct
QUESTION: 33

The decision in Garner v/s Murray requires that

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*Multiple options can be correct
QUESTION: 34

The dissolution of a partnership firm takes place

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QUESTION: 35

The relationship of P and Q is that of:

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QUESTION: 36

Can R (age 17 years) be admitted to their business?

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QUESTION: 37

 

When one person signifies to another his willingness to do or to abstain from doing any thing with a view to obtaining the assent of that other person to such act or abstinence he is said to make a

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QUESTION: 38

Mr. S is indebted to the firm for a sum of Rs. 500 and the firm files a suit against him on 01.03.2007. Will the firm succeed?

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QUESTION: 39

On 31.12.2007, it was decided to discontinue the business, due to heavy losses.

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QUESTION: 40

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.Is the Partnership firm valid?

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