The rule of caveat emptor does not apply in case of
A. fitness for buyer's purpose
B. sale under a patent or trade name
C. usage of trade or consent by fraud
D. All of the above
Select an option to see the answer and solution.
A cheque includes
A. electronic cheque
B. electronic image of a truncated cheque
C. Both A and B
D. Neither A nor B
Select an option to see the answer and solution.
Which of the following as per the Competition Act, 2002, refers to any agreements restricting in any manner the purchaser in the course of his trade from acquiring or otherwise dealing in any goods other than those of the seller or any other person?
A. Tie-in-arrangement
B. Exclusive supply agreement
C. Exclusive distribution agreement
D. Refusal to deal
Select an option to see the answer and solution.
Which of the following statements is not true:
A. To write off goodwill out of retained income is neither a source nor an application of funds
B. To declare dividend on equity share capital is an application of funds
C. To issue bonus shares is not a source of funds
D. Payment to creditors does not affect the amount on net working capital
Select an option to see the answer and solution.
Assistant Public Information Officer (APIO) has to receive the following from the citizens.
A. Applications for information
B. First appeal
C. Second appeal
D. All of the above
Select an option to see the answer and solution.
The first Annual General Meeting of a Company must be held within:
A. 12 months from the date of its incorporation
B. 12 months from the date of commencement of business
C. 18 months from the date of its incorporation
D. 18 months from the date of commencement of business
Select an option to see the answer and solution.
Certificate to commence business is essential for
A. a public company
B. a private company
C. Both A and B
D. None of these
Select an option to see the answer and solution.
Under the Companies Act, 1956, a private company must have at least
A. Seven Directors
B. Three Directors
C. Two Directors
D. One Director
Select an option to see the answer and solution.
When is the communication of proposals, the acceptance of proposals and the revocation of proposals deemed to be made?
A. Only on clear verbal communication of such proposal, acceptance or revocation
B. By any act or omission of the party by which he intends to communicate such proposal, acceptance or revocation or has the effect of communicating it
C. Only when the proposal, acceptance or revocation of the proposal is recorded in writing
D. Only when the proposal, acceptance or revocation of the proposal is received and understood by the other party receiving the information
Select an option to see the answer and solution.
Which of the following points compare negotiated instruments and assignment?
A. Negotiation requires delivery only to constitute a transfer, whereas assignment requires a written document signed by the transferor
B. Consideration is always presumed in the case of transfer by negotiation. In the case of assignment consideration must be proved
C. In case of negotiation, notice of transfer is not necessary, whereas in the case of assignment notice of the transfer must be given by the assignee to the debtor
D. All of the above
Select an option to see the answer and solution.
Which of the following as per the Competition Act, 2002 is exempted as anti-competitive agreement?
A. Patent
B. Trademark
C. Copyright
D. All of these
Select an option to see the answer and solution.
Recently, a system has been launched on a trial basis starting from January 2020 and applicable from October 2020. This system requires large businesses with an annual aggregate turnover of more than Rs. 100 crore to comply with some requirements. This system is called
A. e-way bill system
B. e-invoicing system
C. e-commerce system
D. business system
Select an option to see the answer and solution.
When can a proposal be revoked in Indian Contract?
A. Once a proposal is made, it cannot be revoked
B. Any time before or after the communication of acceptance is complete
C. Any time before the communication of its acceptance is complete as against the proposer, but not afterwards
D. Any time before the proposal comes to the knowledge of the other party, but not afterwards
Select an option to see the answer and solution.
Which of the following rights belong to a patentee?
A. Sell or distribute
B. License
C. Assign the property to others
D. All of the above
Select an option to see the answer and solution.
The components of IT Act, 2000 includes
1. Legal recognition of digital signatures.
2. Regulation of certification authorities.
3. Digital certificates
A. Only 1
B. Both 1 and 2
C. Both 2 and 3
D. All of the above
Select an option to see the answer and solution.
What is the fee for getting information under RTI Act?
A. Rs. 10
B. Rs. 20
C. Rs. 50
D. Rs. 100
Select an option to see the answer and solution.
It is necessary to call a meeting of board of directors at least once
A. Every month
B. Every three months
C. Six month
D. A year
Select an option to see the answer and solution.
Which of the following is not a necessary feature to convert a proposal into a promise?
A. The acceptance must be absolute
B. The acceptance must be within the prescribed time limit
C. The acceptance must be unqualified
D. The acceptance must be expressed in some usual and reasonable manner
Select an option to see the answer and solution.
The First Appellate Authority should decide on first appeals:
A. Within 30 days from the receipt of the first appeals
B. In less number of days than the Public Information Officer concerned took to take a decision on the application
C. Within 45 days from the date of receipt of the appeal, if the reasons are recorded
D. Both A and C
Select an option to see the answer and solution.
Negotiation may be affected in which of the following way/s?
A. Negotiation by delivery
B. Negotiation by endorsement and delivery
C. Both A and B
D. There is no such way
Select an option to see the answer and solution.