Legal Aspects Of Business - Practice Test

[#291] The contracts, entered into by promoters on behalf of a prospectus company are known as

(A) post incorporation contracts

(B) pre-incorporation contracts

(C) provisional contracts

(D) both B and C

Correct Answer

(D) both B and C

[#292] What is the minimum consideration required to create an agency?

(A) Minimum of Rupees One Lakh

(B) Minimum of Rupees One Thousand

(C) No consideration at all is required

(D) Minimum of Rupees Ten Thousand

Correct Answer

(C) No consideration at all is required

[#293] When does an agreement to sell become a sale as per the provisions of Sale of Goods Act, 1930?

(A) When the seller transfers the property in goods

(B) When the seller agrees to transfer the property in goods

(C) When the time elapses or the conditions subject to which the property in the goods is to be transferred are fulfilled

(D) Agreement to sell is deemed to be sale

Correct Answer

(C) When the time elapses or the conditions subject to which the property in the goods is to be transferred are fulfilled

[#294] Which of the following methods can be used to pass resolution?

(A) Voting by show of hands

(B) Voting through electronic means

(C) Poll

(D) All of the above

(E) Voting by show of hands

(F) Voting through electronic means

(G) Poll

(H) All of the above

Correct Answer

(D) All of the above
(H) All of the above

[#295] Which one of the following is not an advantage of the incorporation as company:

(A) Perpetual succession

(B) Limited liability of members

(C) Capital contribution forming part of the company

(D) Freedom to do any business

Correct Answer

(D) Freedom to do any business

Legal Aspects Of Business - Study Mode

[#291] The contracts, entered into by promoters on behalf of a prospectus company are known as

Correct Answer

[#292] What is the minimum consideration required to create an agency?

Correct Answer

[#293] When does an agreement to sell become a sale as per the provisions of Sale of Goods Act, 1930?

Correct Answer

[#294] Which of the following methods can be used to pass resolution?

Correct Answer

[#295] Which one of the following is not an advantage of the incorporation as company:

Correct Answer