Legal Aspects Of Business - Study Mode

Show All Answers

[#281] The maximum remuneration of a whole time director is what percentage of company profit?

(A) 5%

(B) 11%

(C) 15%

(D) No Limit

Correct Answer

(A) 5%

[#282] The certificate of incorporation is that the company is entitled to commence business is:

(A) Exclusive

(B) Conclusive

(C) Supportive

(D) Either A or B

Correct Answer

(D) Either A or B

[#283] Which of the following can be identified as the main policy objectives of a patent system? 1. To encourage an inventor to disclose an invention by granting exclusive rights over the invention to the inventor. 2. To benefit the public by limiting the scope and term of the exclusive rights granted to an inventor. 3. To benefit the public through encouraging innovation by publishing a full disclosure of the technical details of the invention. 4. To benefit the public through guaranteeing that the inventor can commercialize his/her invention. Select the correct option.

(A) 2, 3 and 4

(B) 3, 4 only

(C) 1, 2 and 4

(D) All of the above

Correct Answer

(D) All of the above

[#284] Certificate of commencement of business is not required by a:

(A) Public company

(B) Any type of company

(C) Private company

(D) Private company subsidiary to a public company

Correct Answer

(C) Private company

[#285] 'Sales of Goods Act' was enacted in 1930. Before that which of the following act had the provisions of 'sale of goods' conditions?

(A) Indian Contract Act, 1872

(B) Indian Registration Act, 1908

(C) Transfer of Property Act, 1882

(D) Indian Partnership Act, 1932

Correct Answer

(A) Indian Contract Act, 1872