Legal Aspects Of Business - Practice Test

[#711] In which of the following circumstances is undue influence not exercised?

(A) Where one person holds a real or apparent authority over the other

(B) Where he stands in a fiduciary relation with the other

(C) Where he makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness, or mental or bodily distress

(D) When something is said or done in a dishonest way to trick people

Correct Answer

(D) When something is said or done in a dishonest way to trick people

[#712] Statement (I): Agreement without consideration is always valid. Statement (II): All contracts are agreements but all agreements are not contracts. In the context of the above two statements, which one of the following option is correct?

(A) Statements (I) and (II) both are correct

(B) Both Statements (I) and (II) are incorrect

(C) Statement (I) is incorrect and Statement (II) is correct

(D) Statement (I) is correct but Statement (II) is incorrect

Correct Answer

(C) Statement (I) is incorrect and Statement (II) is correct

[#713] Whose association can be taken as an cartel?

(A) Supplier

(B) Distributor

(C) Trader

(D) All of these

Correct Answer

(D) All of these

[#714] Share capital of a company may be reduced by:

(A) a resolution of the board of directors

(B) an ordinary resolution

(C) a special resolution and permission from company Law Board

(D) permission of the company Law Board

Correct Answer

(C) a special resolution and permission from company Law Board

[#715] Which of the following law contains law relating to promissory note, bill of exchange and cheque?

(A) Negotiable Instrument Act

(B) Reserve Bank of India Act

(C) Contract Act

(D) All of the above

Correct Answer

(A) Negotiable Instrument Act

Legal Aspects Of Business - Study Mode

[#711] In which of the following circumstances is undue influence not exercised?

Correct Answer

[#712] Statement (I): Agreement without consideration is always valid. Statement (II): All contracts are agreements but all agreements are not contracts. In the context of the above two statements, which one of the following option is correct?

Correct Answer

[#713] Whose association can be taken as an cartel?

Correct Answer

[#714] Share capital of a company may be reduced by:

Correct Answer

[#715] Which of the following law contains law relating to promissory note, bill of exchange and cheque?

Correct Answer