1.

Where the obligation or promise in a contract is outstanding on the part of both parties,it is
called Bilateral Contract
2. IPOS stand for Initial Public Offer

3. If a seller handed over the keys of a warehouse containing the goods to the buyer ,results in
Symbolic Delivery
4. A,a minor ,entered into a contract for borrowing a sum of Rs 40,000 out of which lender paid him
a sum of Rs 18,000.A executed mortgage of property in favour of the lender,the mortgage is
Invalid
5. Every contract is an agreement but every agreement is not a contract.This statement is Correct
6. Who among the following is not a competent authority to remove a director from his office?
Board Of Directors
7. When the seller delays the supply of a good or service with a view to benefitting from rise in
prices it is termed as None OF these
8. A applies to a Banker for a loan when the money market is very stringent. Banker says that loan
could be provided only at such high interest .A’s consent is Not Obtained By Undue Influence
9. To avail relief under condition as to fitness,the conditions to be satisfied is/are ALL OF THE
ABOVE
10. Who cannot demand performance of a promise-STRANGER TO THE CONTRACT
11. A share certificate once issued by the company binds it in two ways,namely by estoppel as to
title and BY ESTOPPEL AS TO DIVIDEND
12. Goods must be the same as wanted by the seller .This is CONDITION AS TO DESCRIPTION
13. When a transaction is simply void but not illegal,the collateral transation would be VALID
14. Conversion of a private company into a public company requires A SPECIAL RESOLUTION AND
CENTRAL GOVERNMENT APPROVAL
15. In case of sale of standing trees,the property passes to the buyer when trees are FELLED AND
ASERTAINED
16. A stipulation collateral to main purpose of the contract the breach of which gives rise to a right
to claim for damages but not to a right to reject goods and treat the contract as repudiated is a
CONDITION
17. The idea of carrying on a business is conceived by a person by a group of persons called
PROMOTERS
18. If illegal part cannot be severed from legal part of a convenant,the contract is ALTOGETHER VOID
19. The managing directors hold the QUALIFICATION shares of the company
20. Infringement in relation to copyright implies BREACH
21. A contract was entered before 1st September 1872 is governed by the Indian contract act 1872 a
yes if there was performance of the contract on or after 1st September 1872
22. An illegal agreement renders all the incidental transactions - illegal
23. Consumer has the right to present before the appropriate forum or authorities all those matters
which affects his interest this writer the consumer is termed as the right to be- heard
24. Agency is irrevocable- in all of the above cases
25. When the consent of both parties is given by mistake the contract is- void
26. A promises to deliver his watch to B and in return B promises to pay a sum of ₹2000 there is set
to be -agreement
27. The dividend on preference capital is paid- only when the directors recommend it
28. The parties to a bill of exchange are -drawyer acceptor and payee
29. Every shareholder of a company is also known as -all of the above
30. Substituted agreement embraces -all of the above
31. Implied agency includes -all of the above
32. The term nuddum pactum implies- bare promise
33. Out of the following persons which of the following does not come under the definition of
unpaid seller as per chapter 5 of sale of goods act- a seller to whom the whole of the price has
not been paid or tendered
34. An agreement is void if it is opposed to public policy which of the following is not covered by the
head of public policy- contract to do an impossible acts
35. A promissory note or bill of exchange can be made payable- all of these
36. Discharge by mutual agreement may involve novation
37. Which of the following is not an implied condition in contract of sale condition as to free from
encumbrances
38. An agreement not to raise the plea of limitation is void
39. Agreements do not give rise to contractual obligations are not contract true
40. Directors election takes place in a general meeting through are resolution passed by simple
majority
41. A company is a association person
42. An offer which is allowed to remain an offer for acceptance over a period of time is known as
standing offer
43. Section 15 of Indian contract act deals with coercion
44. Where the goods are delivered to a career or wharfing for the purpose off transmission to the
buyer the delivery is invalid and ineffective
45. An agreement consists of reciprocal promises between at least 2 parties
46. Where the consent of both parties is given by mistake the contract is void
47. Notice of dishonour is excused in all the above cases
48. An agreement is void if it is opposed to public policy. Which of the following is not covered by
heads of public policy contract to do an impossible acts
49. An agreement made with free consent to which the consideration is lawful but inadequate is
voidable
50. Towards the fulfillment of their fiduciary duty the promoters all of the above
51. The appointment of every director is to be made by an special resolution at the general meeting
52. An agreement is void when there is all of the above
53. Terms of an offer must be definite
54. The undertaking contained in a promissory note to pay a certain sum of money is unconditional
55. Which of the following is an offer advertisement for sales or auction of goods
56. Who among the following are usually regarded as persons of unsound mind all of the above
57. A petition to the tribunal for winding up of the company can be filed by all of the above
58. Issue of prospectus by a company is an invitation to offer
59. Company is a legal person which is capable of perpetual succession and common seal
60. When does an agreement to sell become a sale as per the provisions of sale of goods act 1930
when the time elapses or the condition subjects to which the property in the goods is To be
transferred are fulfilled
61. Communication of a proposal is complete when it comes to the knowledge of the person to
whom it is made
62. Which of the following is an essential feature of partnership test of mutual agency
63. A contract entered into during war with an alien enemy is voidable
64. Which of the following can be invoked by the company and hence does not operate against it
doctrine of constructive notice
65. Which one of the following is a void agreement all of these
66. On a winding up order being made the companies property comes under the custody of
liquidator
67. Ketan has written a new book on management. He sold rights of this book 2 SG publication the
book met with good response and became bestseller one day he found a low price edition of his
book selling at various roadside shops he father found that the book was published and sold by a
Delhi based publisher without his approval ram is looking for remedies to get
Who can file the case related to unauthorized publishing of this book none of these
By which method writer of book get royalty in during copyright. Fix percentage