All Courses
Get the App Signup / Login
Sign in Open App
Judiciary Exams Exam  >  Judiciary Exams Tests  >  Test: Rights and Duties of Buyer and Seller - Judiciary Exams MCQ

Test: Rights and Duties of Buyer and Seller - Judiciary Exams MCQ


Test Description

15 Questions MCQ Test - Test: Rights and Duties of Buyer and Seller

Test: Rights and Duties of Buyer and Seller for Judiciary Exams 2024 is part of Judiciary Exams preparation. The Test: Rights and Duties of Buyer and Seller questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Rights and Duties of Buyer and Seller MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rights and Duties of Buyer and Seller below.
Solutions of Test: Rights and Duties of Buyer and Seller questions in English are available as part of our course for Judiciary Exams & Test: Rights and Duties of Buyer and Seller solutions in Hindi for Judiciary Exams course. Download more important topics, notes, lectures and mock test series for Judiciary Exams Exam by signing up for free. Attempt Test: Rights and Duties of Buyer and Seller | 15 questions in 15 minutes | Mock test for Judiciary Exams preparation | Free important questions MCQ to study for Judiciary Exams Exam | Download free PDF with solutions
Test: Rights and Duties of Buyer and Seller - Question 1
Save

What is the primary purpose of the Sales of Goods Act 1930?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 1
The primary purpose of the Sales of Goods Act 1930 is to oversee the legality of contracts related to the sale of goods. This act plays a crucial role in ensuring that transactions involving goods adhere to legal standards and principles, protecting the rights of both buyers and sellers. It is essential for maintaining fairness and legality in such commercial transactions.
Test: Rights and Duties of Buyer and Seller - Question 2
Save

What distinguishes the Sales of Goods Act from the Transfer of Property Act in India?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 2
The key distinction between the Sales of Goods Act and the Transfer of Property Act in India is that the Sales of Goods Act specifically addresses the rights and obligations of buyers and sellers in sales contracts involving goods, while the Transfer of Property Act governs transactions related to immovable property. This differentiation ensures that each act focuses on distinct aspects of commercial transactions, providing clarity and legal guidance in their respective domains.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Rights and Duties of Buyer and Seller - Question 3
Save

What characterizes individuals who operate as sellers in small businesses?

Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 3
Individuals operating small businesses as sellers are characterized by their creation of goods or services for sale. These sellers are involved in developing products or services that cater to specific market needs, aiming to offer value to potential buyers. Operating a small business typically involves the production or provision of goods and services directly to consumers or other businesses, contributing to the overall economy and market dynamics.
Test: Rights and Duties of Buyer and Seller - Question 4
Save
What is the primary responsibility of a seller in commercial settings?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 4
In commercial settings, a seller's primary responsibility is to provide goods or services to potential buyers in exchange for monetary payment or other forms of consideration. This involves offering products or services with the intention of finalizing sales transactions. Sellers actively engage in delivering value within market-based transactions by providing goods or services to meet the needs and demands of buyers.
Test: Rights and Duties of Buyer and Seller - Question 5
Save
What does a buyer typically engage in when acquiring goods or services in a commercial setting?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 5
In a commercial setting, a buyer typically engages in negotiating terms and conditions when acquiring goods or services. This negotiation process involves discussing price, quantity, delivery terms, and other relevant factors to reach a mutually acceptable agreement between the buyer and the seller. Effective negotiation skills are essential for buyers to secure favorable deals and ensure a successful transaction.
Test: Rights and Duties of Buyer and Seller - Question 6
Save
What is the primary motivation for buyers to initiate transactions in the market?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 6
The primary motivation for buyers to initiate transactions in the market is to acquire goods or services. Buyers actively engage in the market to fulfill their specific needs by obtaining products or services that satisfy their requirements. This process involves expressing interest, evaluating options, negotiating terms, and ultimately making purchases to meet their demands or preferences. The act of acquiring goods or services is fundamental to the role of buyers in market transactions.
Test: Rights and Duties of Buyer and Seller - Question 7
Save
What right ensures that the buyer can reject goods if they do not meet the specified description, quality, or quantity?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 7
The right to reject non-conforming goods allows the buyer to refuse acceptance of goods that do not meet the specified description, quality, or quantity. This right acts as a safeguard against receiving substandard or inadequate products, ensuring that buyers can maintain certain quality standards in their purchases.
Test: Rights and Duties of Buyer and Seller - Question 8
Save
What is the buyer's duty when the seller is ready to deliver the goods as per the contract?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 8
When the seller is ready to deliver the goods as per the contract, it is the buyer's duty to accept them promptly, acknowledging receipt and compliance with the terms. This ensures a smooth transaction and upholds the contractual agreement between the buyer and seller.
Test: Rights and Duties of Buyer and Seller - Question 9
Save
What is the buyer's responsibility when the seller tenders delivery of goods in accordance with the contract terms?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 9
When the seller tenders delivery of goods as per the contract, the buyer's duty is to accept them promptly, acknowledging receipt and compliance with the terms. This ensures a smooth transaction and fulfills the buyer's obligation in the sales agreement.
Test: Rights and Duties of Buyer and Seller - Question 10
Save
In a situation where goods are being transported to a location different from where they were sold, who assumes the risk of any deterioration or damage during transit?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 10
When goods are being transported to a location other than where they were sold, the buyer assumes the risk of any deterioration or damage during transit. This means that the buyer is responsible for any potential loss or harm that may occur to the goods while in transit to the designated location.
Test: Rights and Duties of Buyer and Seller - Question 11
Save
What right allows the seller to stop goods while they are in transit if the buyer fails to make payment and resume possession until the price is paid?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 11
The right that enables the seller to stop goods while they are in transit if the buyer defaults on payment is the "Right to Stop Goods in Transit." This right gives the seller the ability to retain possession of the goods until the outstanding payment is made, ensuring that payment is received before final delivery.
Test: Rights and Duties of Buyer and Seller - Question 12
Save
Under what circumstance can the seller resell the goods and claim damages for losses incurred according to the Sale of Goods Act, 1930?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 12
The seller can resell the goods and claim damages for losses incurred in the event of "Buyer's Default." This provision allows the seller to mitigate their losses by reselling the goods if the buyer fails to fulfill their obligations as per the agreement. It serves as a legal recourse for the seller to recover potential financial losses due to the buyer's default.
Test: Rights and Duties of Buyer and Seller - Question 13
Save
In what scenario can the seller stop the goods while they are in transit and resume possession until the price is paid, ensuring payment before delivery?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 13
The right to stop goods in transit empowers the seller to halt the goods while they are en route to the buyer if payment is not made as agreed. By exercising this right, the seller can retain possession of the goods until the price is paid, ensuring that payment is received before completing the delivery, thereby safeguarding their financial interests in the transaction.
Test: Rights and Duties of Buyer and Seller - Question 14
Save
What right allows the seller to retain control and ownership of the goods until specific conditions are met, safeguarding their interests?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 14
The right to reserve disposal of goods allows the seller to maintain control and ownership of the goods until certain conditions are fulfilled, ensuring that their interests are protected. This right enables sellers to safeguard their goods until the agreed-upon terms are met, providing a level of security in commercial transactions.
Test: Rights and Duties of Buyer and Seller - Question 15
Save
What is a responsibility of sellers in terms of delivering goods as per the contract?
Detailed Solution for Test: Rights and Duties of Buyer and Seller - Question 15
Sellers are obligated to deliver goods as agreed upon in the contract, ensuring that the products meet the specifications outlined in the agreement. This responsibility underscores the importance of fulfilling contractual obligations and maintaining trust between buyers and sellers in commercial transactions.
Information about Test: Rights and Duties of Buyer and Seller Page
In this test you can find the Exam questions for Test: Rights and Duties of Buyer and Seller solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Rights and Duties of Buyer and Seller, EduRev gives you an ample number of Online tests for practice

Top Courses for Judiciary Exams

Download as PDF

Top Courses for Judiciary Exams

Important Questions for Rights and Duties of Buyer and Seller

Find all the important questions for Rights and Duties of Buyer and Seller at EduRev.Get fully prepared for Rights and Duties of Buyer and Seller with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Rights and Duties of Buyer and Seller syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Rights and Duties of Buyer and Seller resources.

Rights and Duties of Buyer and Seller MCQs with Answers

Prepare for the Rights and Duties of Buyer and Seller within the Judiciary Exams exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Rights and Duties of Buyer and Seller

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Rights and Duties of Buyer and Seller with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup