Business Law MCQ Questions and Answers for Practice

1. ............bailment would be either for the exclusive benefits of either bailor or Bailee.

1. Gratuitous Bailment
2. Non- Gratuitous Bailment
3. General Bailment
4. None

2. A contract of Indemnity is a contract for

1. Rectification of Mistake
2. Increase of Damages
3. Protection Against Loss
4. New offer against Old Offer

3. A person cannot work as a managing director of more than how many companies at a time?

1. Two
2. Three
3. Four
4. Five

4. A promissory note must contain

1. Undertaking
2. Conditional Undertaking
3. Unconditional Undertaking
4. can be Conditional undertaking or Unconditional undertaking

5. A..........is a contract to perform the promise or discharge the liability of third person in a case of principal debtor‟s default.

1. Contract of Indemnity
2. Contract of guarantee
3. Contract of agency
4. Contract of pledge

6. An appeal against the order of state consumer dispute redressal commission can be done in

1. 30 Days
2. 15 Days
3. 7 Days
4. 21 Days

7. Any person who for consideration became the possessor of a promissory note, bill of exchange or cheque is called as

1. Acceptor in due Course
2. Acceptor
3. Holder in due Course
4. Holder

8. Appeal against the national forum can be done in

1. District Court
2. High Court
3. Supreme Court
4. Taluka Court

9. As per schedule I, form of Memorandum of Unlimited Company not having share capital is mentioned in which Table?

1. Table A
2. Table B
3. Table C
4. Table D

10. Can minor be a Principal debtor in case of contract of guarantee?

1. True Statement
2. False Statement
3. Both
4. None

11. Consumer Protection Act is applicable to whom?

1. Immovable Goods
2. Movable Goods
3. Specific Goods
4. All Goods and Services

12. Contract of bailment is done for

1. Money
2. Building
3. Motor Car
4. All of the Above

13. Guarantee Contract Extends to Series of transactions is called

1. Specific Guarantee
2. Special Guarantee
3. Continuing Guarantee
4. Alternative Guarantee

14. Guarantee which is limited to a single transaction is called

1. Continuous Guarantee
2. Continuing Guarantee
3. Specific Guarantee
4. Separate Guarantee

15. How company‟s name can be Changed?

1. An ordinary Resolution
2. By a Special Resolution
3. The approval of the central government
4. A Special Resolution and with the Approval of the Central Government