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Postal Exam (Mercantile Law)

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79 views17 pages

Postal Exam (Mercantile Law)

It is useful

Uploaded by

Anmol poudel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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* Meranile Law All questions are compulsory. ‘Maximum Marks : 100 Pass Marks: 40 1- Choose the correct answers from the followings, (Each question carries 1.5 marks each. except question 33 which carry 2 marks) [82x1.5 * 2 50) 1. An agreement to have food together is a) Valid agreement b) Void agreement c) Voidable agreement d)Unenforceable agreement 2. AandBagree tokill Cis ¢ a) Agreement b) Contract. c) None of Above 3. A promises to B to give 100 liters of Oil and B agrees to give 50,000 is a) Valid agreement b) Void Agreement c) Voidable Agreement , 4, The term Quid Pro Quo is related to a) Coercion b) Undue influence c) Fraud 4) Consideration 5. A car having market value of Rs, 50,00,000 is agreed to sell at the value of Rs. 5/-, itis a) Lawful Consideration b) Unlawful consideration c) Inadequate so unenforceable. 6. An agreement concluded with intention to deceive somebody is said to be the contract mad by a) Coercion b) Undue influence c) Fraud d) Forge ¢) Misrepresentation 7. Anagreement with minor who is going to become major after two days is a) Void b) Valid c) voidable 8, A person having intoxication is incapable of entering into an agreement. a) Correct b) Incorrect c) Partly Correct 9, A contract preventing the seller fiom engaging hinv/herself in a profession or trade st the time and place as mentioned in the contract concluded between the buyer and the seller on selling an buying of the goodwill of any trade: 5 a) Valid Contract b) Void Contract c) Voidable Contract d)lllegal Contract 10. A court order for doing as per the contract is called: a) Injuction. b) Specific performance ©) Quantum meruit 4) Compensation, 11. The unlawful detention of eny property of a person in order to obtain his consent to a contract amounts to: i a) Mistepresentation b) coercion ¢) fraud. 4) Undue influence, following is true? ent is valid but not enforceable ‘has illegal consideration” may be valid, ble zi bebo of both party. a based on personal skill, interest or qualification must be performed by promisor a) True b) False c) Partly True 15. Where impossibility of the contract arises due to event such as strikes, lockouts and civil disturbance, the contract is a) Discharged b) Terminated c) Void d) Not affected 16. Ifthe contract is made for several objectives and one objective is failed, the contract is a) Discharged ) Terminated c) Void d) Not affected 17, After payment of the guaranteed debt or performance of the guaranteed duty, the surety stands as the creditor, It means ) Contribution b) Subrogation c) Indemnity 4) Compensation 18. The liability of Surety is co-extensive with that of ereditor a) True b) False c) Partly True 19. Which of the following is not correct? a) Continuing guarantor can revoke the contract. b) The contract of guarantee is terminated due to the death of surety ©) The surety is discharged from liability as soon as the principal debtor gets released! 20. Warranty as to quiet possession is a) Express Warranty b) Implied Warranty — c) None of the above 21. Profit sharing is the sole test of partnership a) True b) False ©) Partly True 22, Liability of each partners is limited to his assets only. a) True b) False c) Partly True 23, Sharing of profit and loss amongst partners may not be equal a) True b) False ) Partly True 24. A partner who does not take part actively in business but makes investment and liable for debts of business is called a) Active partner b) Nominal Partner c) Dormant Partner d) Quasi Partner 25. If it requires making any change in the particulars of application and in the agreement, an application shall be submitted before the concerned Department for this purpose and such changes may only be made after the approval of the ministry of industry a)True b)False 0) Partly True 26, Ifa firm commits an act in contravention of Contract Act, the concerned Departnient ma registration of a firm a) True >)False c) Partly True 27. The all assets originally brought in to the stock of the firm is called a) Entire assets of the partner b) Entire assets of the partnership 28, Every partner shall be entitled to participate in the management of the business of the firm a) True b)False c) Partly True 29. If the partner has invested additional capital than he has agreed to subseribe,

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