MBA/MBA Business Law Mcq Set 1 Sample Test,Sample questions

Question:
A agreed to sell 100 shares to B at Rs. 75 per share delivery to be given on the 1st march, B refused to accept delivery on 1st march as price had gone down to Rs. 60 per share. Subsequently A sold these shares at Rs.92 per share

1.A cannot recover any damages from B

2.A will have to restore to BRs. 1700 i.e. the profit he made

3.A can recover damages to be determined by the President of the stock exchange.

4.bailor


Question:
A condition is a stipulation which is a

1.essential to the main purpose of contract of sale

2.not essential to the main purpose of contract of sale,

3.collateral to the main purpose of contract of sale

4.None of the above.


Question:
A contingent contract is

1.void

2.voidable

3.valid

4.illegal


Question:
A contract

1.may be void as originally entered into

2.may become void subsequent to its formation

3.cannot become void under any circumstances

4.may become void at the will of party.


Question:
A contract by an idot is

1.voidable

2.enforceable

3.invalid

4.void ab inito


Question:
A contract creates

1.rights in personam

2.rights in rem

3.only rights and no obligations

4.only obligations and no rights


Question:
A contract has become more difficult of performance due to some un-contemplated events or delays .The contract

1.is discharged

2.is not discharged

3.becomes void

4.becomes voidable.


Question:
A contract to pay B Rs. 10,000 if B s house is burnt – This is a

1.wagering agreement

2.void

3.voidable agreement

4.contingent contract


Question:
A finder of lost goods is a

1.bailor

2.Baile

3.true owner

4.thief


Question:
A guarantee obtained by a creditor by keeping silence as to material circumstances is

1.valid

2.voidable

3.unenforceable

4.invalid


Question:
A lends Rs. 500 to B. He later tells B that he need not repay the amount, the contract is discharged by

1.breach

2.waiver

3.novation

4.Performance.


Question:
A letter of acceptance sufficiently stamped and duly addressed is put into course of transmission. There is

1.a contract voidable at the option of acceptor

2.a contract voidable at the option of offerer

3.no contract at all

4.a valid


Question:
A mere attempt at receipt by a party to a contract ______

1.is not fraud unless the other party is actually deceived

2.is fraud whether the other party has been deceived ornot

3.amounts to misrepresentation

4.None of the above.


Question:
A minor , by misrepresenting his age , borrows some money –

1.he can be sued for the fraud,

2.he cannot be sued for the fraud

3.he is liable to return the money

4.None of the above.


Question:
A minor has been supplied necessaries on credit

1.he is not liable

2.he is personally liable

3.his estate is liable

4.he is not personally liable


Question:
A promise made without the intention of performing it amounts to –

1.innocent misrepresentation

2.fraud

3.negligent Misrepresentation

4.wrongful misrepresentation


Question:
A promise to subscribe to a charity. The promise is a

1.valid contract

2.voidable contract

3.void agreement

4.void contract.


Question:
A specific offer can be accepted by

1.any person

2.any friend of offerer

3.the person to whom it is made

4.any friend of offeree.


Question:
An agreement made with an alien enemy is

1.unlawful on the ground of public policy

2.unlawful because it becomes difficult to be performed

3.valid, d)voidable.

4.void


Question:
An agreement made without consideration is

1.valid,

2.illegal,

3.voidable

4.void


Question:
Any variance made without surety's consent in the terms of the contract between the principal debtor and thecreditor discharges the surety

1.as to transactions prior to variance

2.Coffee

3.as to transactions subsequent to variance

4.as to all transactions


Question:
Assignment by operation of law takes place ______

1.by the mutual consent of parties

2.by the will of either party

3.when the subject matter of a contract ceases to exist.

4.by the death of a party to a contract.


Question:
Compromise of dispute claims

1.is a good consideration for a contract

2.is not a good consideration for a contract

3.results in a void agreement

4.is not permitted by law.


Question:
Consideration

1.must be adequate to the promise made

2.need not be adequate to the promise made

3.must be of reasonable value

4.must be of more value than the value of promise made.


Question:
Contracts made before war with an alien enemy which are against public policy are

1.suspended and are revived after the war is over.

2.dissolved

3.not affected at all

4.void ab initio


Question:
Each party is a promisor and a Promisee in case of –

1.past consideration

2.present consideration

3.every contract

4.reciprocal promises


Question:
If a price is not determined by the parties in a contract of sale , the buyer is bound to pay

1.the price demanded by the seller

2.a reasonable price

3.the price which the buyer thinks is reasonable

4.the price to be determined by a third independent person.


Question:
If there is a fraudulent misrepresentation as to the character of a document , the contract is ______

1.void

2.voidable

3.valid

4.illegal


Question:
If there is a fraudulent misrepresentation as to the contents of a document , the contract is –

1.void,

2.voidable,

3.valid

4.illegal


Question:
If there is error in cause, the contract I

1.void

2.voidable

3.valid

4.illegal


Question:
In a sale ,if the goods are destroyed , the loss falls on

1.the buyer

2.the seller

3.partly on buyer and partly on seller

4.the seller if price has not been paid


Question:
In case of breach of a warranty , the buyer can

1.repudiate the contract

2.claim damages only

3.return the goods

4.refuse to pay the price


Question:
Law of contract is

1.not the whole of agreements nor is it the whole law of obligations

2.the whole law of agreements

3.the whole law of obligations

4.None of the above.


Question:
On the face of the ticket for a journey the words ― for conditions see back are printed in small print. The passenger _______

1.is bound by the conditions whether he takes care to read them or not.

2.is not bound by the conditions

3.may not take note of the conditions

4.None of the above.


Question:
Promises forming consideration for each other are known as,

1.independent promises

2.dependent promises

3.reciprocal promises.

4.mutual promises


Question:
Quantum meruit means

1.a non gratuitous promise

2.an implied promise

3.as mush as earned

4.as much as is paid.


Question:
Specific performance may be ordered by the court when ________

1.the contract is voidable

2.damages are an adequate remedy

3.damages are not an adequate remedy

4.the contract is uncertain.


Question:
The Case of Cundy v. Lindsay (1878)deals with

1.Coercion

2.undue influence

3.mistake as to the nature of transaction

4.mistake as regards identity


Question:
The case of Mohiri Bibi v. Dharmodas Ghose (1903) deals with-

1.communication of offer

2.communication of acceptance

3.a minors agreements

4.fraud


Question:
The case of nordenfelt v. maxim nordenfelt gun co. (1904)deals with

1.agreement in restraint of legal proceedings

2.minor‘s agreements

3.agreement in restraint of trade

4.agreement in restraint of marriage.


Question:
The case of Taylor v. caldwell (1883)deals with-

1.discharge of contract by destruction of subject matter,

2.anticipatory breach of contract

3.discharge of contract by death of a party

4.breach of contract.


Question:
The court may grant rescission where the contract is

1.voidable at the option of the plaintiff

2.void

3.unenforceable

4.illegal


Question:
The doctrine of caveat emptor applies

1.incase of implied conditions and warranties

2.Coffee

3.when the buyer does not intimate the purpose to the seller and depends upon his own skill and judgment

4.when goods are sold by sample


Question:
The measure of damages in case of breach of a contract is the difference between the

1.contract price and the market price at the date of breach

2.contract price and the maximum market price during the term of the contract

3.contract price and the price at which the plaintiff might have sold the goods,

4.contract price and the price fixed by court.


Question:
The omission of the creditor to sue within the period of limitation

1.discharges the surety

2.does not discharge the surety

3.makes the contract of guarantee void

4.makes the contract of guarantee illegal.


Question:
There is a counter-offer when-

1.the offeree gives conditions for acceptance or introduces a fresh term in acceptance

2.the offerer makes a fresh offer

3.the offeree makes some query.

4.the offeree accepts it.


Question:
When a person positively asserts that a fact is true when his information does not warrant it to be so, though he believes it to be true, there is

1.misrepresentation

2.fraud

3.undue influence

4.coercion.


Question:
When promises refuses to accept performance from the promisor who offers to perform, it is ____

1.attempted performance

2.vicarious performance

3.tender

4.frustration of contract.


Question:
Where a contract could not be performed because of the default by a third person on whose work the promisor relied , it _________

1.is not discharged

2.is discharged

3.becomes void

4.becomes voidable.


Question:
Which of following result in an offer-

1.A declaration of intention

2.an invitation to offer,

3.an advertisement offering reward to anyone who finds lost dog of the advertise,

4.an offer made in a joke.


More MCQS

  1. MBA Accounting MCQ Question Set 1
  2. MBA Accounting MCQ Question Set 2
  3. MBA Accounting MCQ Question Set 3
  4. MBA Accounting MCQ Question Set 4
  5. MBA Accounting MCQ Question Set 5
  6. MBA Accounting MCQ Question Set 6
  7. MBA Accounting MCQ Question Set 7
  8. MBA Accounting MCQ Question Set 8
  9. MBA Accounting MCQ Question Set 9
  10. MBA Accounting MCQ Question Set 10
  11. MBA Advertising and Sales Promotion Mcq Set 1
  12. MBA Advertising and Sales Promotion Mcq Set 2
  13. MBA Advertising and Sales Promotion Mcq Set 3
  14. MBA Advertising and Sales Promotion Mcq Set 4
  15. MBA Advertising and Sales Promotion Mcq Set 5
  16. MBA Advertising and Sales Promotion Mcq Set 6
  17. MBA Advertising and Sales Promotion Mcq Set 7
  18. MBA Advertising and Sales Promotion Mcq Set 8
  19. MBA Advertising and Sales Promotion Mcq Set 9
  20. MBA Advertising and Sales Promotion Mcq Set 10
  21. MBA Advertising and Sales Promotion Mcq Set 11
  22. MBA Advertising and Sales Promotion Mcq Set 12
  23. MBA Advertising and Sales Promotion Mcq Set 13
  24. MBA Behavioural and Allied Sciences MCQ Set 1
  25. MBA Behavioural and Allied Sciences MCQ Set 2
  26. MBA Behavioural and Allied Sciences MCQ Set 3
  27. MBA Behavioural and Allied Sciences MCQ Set 4
  28. MBA Behavioural and Allied Sciences MCQ Set 5
  29. MBA Behavioural and Allied Sciences MCQ Set 6
  30. MBA Behavioural and Allied Sciences MCQ Set 7
  31. MBA Behavioural and Allied Sciences MCQ Set 8
  32. MBA Behavioural and Allied Sciences MCQ Set 9
  33. MBA Behavioural and Allied Sciences MCQ Set 10
  34. MBA Brand Management MCQ Set 1
  35. MBA Brand Management MCQ Set 2
  36. MBA Brand Management MCQ Set 3
  37. MBA Brand Management MCQ Set 4
  38. MBA Brand Management MCQ Set 5
  39. MBA Business Communication MCQ Set 1
  40. MBA Business Communication MCQ Set 2
  41. MBA Business Communication MCQ Set 3
  42. MBA Business Communication MCQ Set 4
  43. MBA Business Communication MCQ Set 5
  44. MBA Business Communication MCQ Set 6
  45. MBA Business Communication MCQ Set 7
  46. MBA Business Communication MCQ Set 8
  47. MBA Business Communication MCQ Set 9
  48. MBA Brand Management MCQ Set 10
  49. MBA Brand Management MCQ Set 11
  50. MBA Business Economics MCQ Set 1
  51. MBA Business Economics MCQ Set 2
  52. MBA Business Economics MCQ Set 3
  53. MBA Business Economics MCQ Set 4
  54. MBA Business Economics MCQ Set 5
  55. MBA Business Economics MCQ Set 6
  56. MBA Business Environment MCQ Set 1
  57. MBA Business Environment MCQ Set 2
  58. MBA Business Environment MCQ Set 3
  59. MBA Business Environment MCQ Set 4
  60. MBA Business Environment MCQ Set 5
  61. MBA Business Environment MCQ Set 6
  62. MBA Business Environment MCQ Set 7
  63. MBA Business Environment MCQ Set 8
  64. MBA Business Environment MCQ Set 9
  65. MBA Business Ethics and Governance MCQ Set 1
  66. MBA Business Law Mcq Set 1
  67. MBA Business Law Mcq Set 2
  68. MBA Business Law Mcq Set 3
  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
  72. MBA Business Law Mcq Set 7
  73. MBA Business Law Mcq Set 8
  74. MBA Business Law Mcq Set 9
  75. MBA Business Mathematics Mcq Set 1
  76. MBA Business Mathematics Mcq Set 2
  77. MBA Business Mathematics Mcq Set 3
  78. MBA Business Mathematics Mcq Set 4
  79. MBA Business Mathematics Mcq Set 5
  80. MBA Business Mathematics Mcq Set 6
  81. MBA Business Statistics Mcq Set 1
  82. MBA Business Statistics Mcq Set 2
  83. MBA Computers In Management Mcq Set 1
  84. MBA Computers In Management Mcq Set 2
  85. MBA Computers In Management Mcq Set 3
  86. MBA Computers In Management Mcq Set 4
  87. MAB Cost and Managerial Accounting Mcq Set 1
  88. MBA Cost and Managerial Accounting Mcq Set 1
  89. MBA Cost and Managerial Accounting Mcq Set 2
  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
  92. MBA Cost and Managerial Accounting Mcq Set 5
  93. MBA Cost and Managerial Accounting Mcq Set 6
  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
  96. MBA Cost and Managerial Accounting Mcq Set 9
  97. MBA Cost and Managerial Accounting Mcq Set 10
  98. MBA Cost and Managerial Accounting Mcq Set 11
  99. MBA E-Business MCQ Set 1
  100. MBA E-Business MCQ Set 2
  101. MBA E-Business MCQ Set 3
  102. MBA E-Business MCQ Set 4
  103. MBA English Language MCQ Set 1
  104. MBA English Language MCQ Set 2
  105. MBA Entrepreneurship Management MCQ Set 1
  106. MBA Entrepreneurship Management MCQ Set 2
  107. MBA Entrepreneurship Management MCQ Set 3
  108. MBA Entrepreneurship Management MCQ Set 4
  109. MBA Entrepreneurship Management MCQ Set 5
  110. MBA Entrepreneurship Management MCQ Set 6
  111. MBA Financial Management MCQ Set 1
  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
  114. MBA Financial Management MCQ Set 4
  115. MBA Financial Management MCQ Set 5
  116. MBA Financial Management MCQ Set 6
  117. MBA Financial Management MCQ Set 7
  118. MBA Financial Management MCQ Set 8
  119. MBA Financial Management MCQ Set 9
  120. MBA Financial Management MCQ Set 10
  121. MBA Financial Management MCQ Set 11
  122. MBA Financial Management MCQ Set 12
  123. MBA Human Resource Management Mcq Set 1
  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
  126. MBA Human Resource Management Mcq Set 4
  127. MBA Human Resource Management Mcq Set 5
  128. MBA Human Resource Management Mcq Set 6
  129. MBA Human Resource Management Mcq Set 7
  130. MBA Human Resource Management Mcq Set 8
  131. MBA Insurance and Risk Management Mcq Set 1
  132. MBA Insurance and Risk Management Mcq Set 2
  133. MBA Insurance and Risk Management Mcq Set 3
  134. MBA Insurance and Risk Management Mcq Set 4
  135. MBA Insurance and Risk Management Mcq Set 5
  136. MBA Insurance and Risk Management Mcq Set 6
  137. MBA Management Information Systems Mcq Set 1
  138. MBA Management Information Systems Mcq Set 2
  139. MBA Management Information Systems Mcq Set 3
  140. MBA Management Information Systems Mcq Set 4
  141. MBA Management Information Systems Mcq Set 5
  142. MBA Management Information Systems Mcq Set 6
  143. MBA Management Information Systems Mcq Set 7
  144. MBA Management Information Systems Mcq Set 8
  145. MBA Management Information Systems Mcq Set 9
  146. MBA Marketing Management Mcq Set 1
  147. MBA Marketing Management Mcq Set 2
  148. MBA Marketing Management Mcq Set 3
  149. MBA Marketing Management Mcq Set 4
  150. MBA Marketing Management Mcq Set 5
  151. MBA Marketing Management Mcq Set 6
  152. MBA Marketing Management Mcq Set 7
  153. MBA Marketing Management Mcq Set 8
  154. MBA Marketing Management Mcq Set 9
  155. MBA Marketing Management Mcq Set 10
  156. MBA Marketing Management Mcq Set 11
  157. MBA Marketing Management Mcq Set 12
  158. MBA Marketing Management Mcq Set 13
  159. MBA Media Planning Mcq Set 1
  160. MBA Media Planning Mcq Set 2
  161. MBA Media Planning Mcq Set 3
  162. MBA Media Planning Mcq Set 4
  163. MBA Operations Research Mcq Set 1
  164. MBA Operations Research Mcq Set 2
  165. MBA Operations Research Mcq Set 3
  166. MBA Operations Research Mcq Set 4
  167. MBA Operations Research Mcq Set 5
  168. MBA Organisational Behavior Mcq Set 1
  169. MBA Organisational Behavior Mcq Set 2
  170. MBA Organisational Behavior Mcq Set 3
  171. MBA Organisational Behavior Mcq Set 4
  172. MBA Principles and Practices of Management Mcq Set 1
  173. MBA Principles and Practices of Management Mcq Set 2
  174. MBA Principles and Practices of Management Mcq Set 3
  175. MBA Principles and Practices of Management Mcq Set 4
  176. MBA Principles and Practices of Management Mcq Set 5
  177. MBA Principles and Practices of Management Mcq Set 6
  178. MBA Principles and Practices of Management Mcq Set 7
  179. MBA Principles and Practices of Management Mcq Set 8
  180. MBA Principles and Practices of Management Mcq Set 9
  181. MBA Production and Operations Management Mcq Set 1
  182. MBA Production and Operations Management Mcq Set 2
  183. MBA Production and Operations Management Mcq Set 3
  184. MBA Production and Operations Management Mcq Set 4
  185. MBA Production and Operations Management Mcq Set 5
  186. MBA Production and Operations Management Mcq Set 6
  187. MBA Production and Operations Management Mcq Set 7
  188. MBA Production and Operations Management Mcq Set 8
  189. MBA Production and Operations Management Mcq Set 9
  190. MBA Production and Operations Management Mcq Set 10
  191. MBA System Analysis and Design Mcq Set 1
  192. MBA System Analysis and Design Mcq Set 2
  193. MBA System Analysis and Design Mcq Set 3
  194. MBA System Analysis and Design Mcq Set 4
  195. MBA System Analysis and Design Mcq Set 5
  196. MBA System Analysis and Design Mcq Set 6
  197. MBA System Analysis and Design Mcq Set 7
  198. MBA System Analysis and Design Mcq Set 8
  199. MBA System Analysis and Design Mcq Set 9
  200. MBA Total Quality Management Mcq Set 1
  201. MBA Total Quality Management Mcq Set 2
  202. MBA Total Quality Management Mcq Set 3
  203. MBA Total Quality Management Mcq Set 4
  204. MBA Total Quality Management Mcq Set 5
  205. MBA Total Quality Management Mcq Set 6
  206. MBA Total Quality Management Mcq Set 7
  207. MBA Total Quality Management Mcq Set 8
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