Legal Aspects Of Business - Study Mode

Show All Answers

[#586] A agreed to let a room to B for holding music shows on a certain dates. Before any show wars organised the room has destroyed in an accidental fire. In this case, the contract becomes

(A) void and is discharged

(B) voidable at A's option

(C) void, but not discharged

(D) voidable at B's option

Correct Answer

(A) void and is discharged

[#587] Who stands in the fiduciary position of the company?

(A) Directors

(B) Promoters

(C) Auditors

(D) Shareholders

Correct Answer

(B) Promoters

[#588] For the PIO to disclose certain information, the Competent Authority should be satisfied that larger public interest warrants its disclosure. This information pertains to:

(A) commercial confidence

(B) trade secrets

(C) information available to a person in his fiduciary relationship

(D) All of the above

Correct Answer

(D) All of the above

[#589] Which of the following statements are true in context of a company under Company Act, 2013? 1. The shareholders of a company can appoint Board of Directors. 2. The Board of Directors is the proper authority to convene Annual General Meeting. 3. The gap between two annual general meetings must not be more than fifteen months.

(A) 1 and 2

(B) 2 and 3

(C) 1 and 3

(D) 1, 2 and 3

Correct Answer

(D) 1, 2 and 3

[#590] Where persons reciprocally promise, firstly to do certain things which are legal and secondly under specified circumstances, to do certain other things which are illegal. Select the correct option.

(A) The first set of promise is a contract, but the second is a void agreement

(B) The entire contract is void

(C) The entire contract is valid

(D) The entire contract is voidable

Correct Answer

(A) The first set of promise is a contract, but the second is a void agreement