Law TB

1.
An express contract terms are explicitly set out

2. Which one is not the remedy for a breach of contract?
3. Assignment is the act of transferring to another all of part of ones property interest or right
4. Personal accepting the proposal is the promise.
5. In every transaction of agency three parties are involved : principle, agent, third party
6. In a contract of indemnity there are 2 parties
7. A proposal when accepted becomes an agreement - true
8. Bailment implies a sort of relationship in which the personal property of one person
temporarily goes into the possession of another. - true
9. In a contract of guarantee, surety is a person who gives the guarantee - true
10. In assignment of contract all rights under it must be transferred - true
12. Agent has the right to examine the accounts of the principle - true
13. It is essential that a sole proprietor creates a separate business organisation - false
14. S invites m to dinner but m does not show up. Is it a legal contract? No
15. Communication of a proposal is complete when it comes to knowledge of the person who
made it - true
16. Enforceable agreements are the one made free consent, have lawful consideration and
lawful object, contracting parities are competent (all of the above)
17. An agreement is a legal document meant to create legal relations - false
18. The person who gives the indemnity is called indemnifier
19. The person who gives the indemnity is called the indemnifier
20. As a rule, a contract without consideration is avoid – true
1. Fraud and misrepresentation make a contract valid - false

2. Executory contract is not yet fully performed
3. A contingent contract depends on act of a party
4. A contract to do or not to do something unless such an event takes place is called
contingent contract
5. Communication of a proposal is complete when it comes to the knowledge of the person to

whom it is traded
6. In case of breach of contract there are only three remedies available - false
7. According to the contract act of 1872, writ ting is an essential for the validity of the
contract - false (agreement, consideration, capacity, legality)
8. In breach of a contract, no remedies available - false (recession, injunction, damages,

specific performance)
9. In a contract, consideration is essential
10. A contract is an agreement that cannot be enforced in courts - false
11. Guarantee exists for the security of the creditors - indemnity is for reimbursement of loss
12. Agreement is an accepted proposal - true
13. A sub agent is responsible for the acts his acts to the principle - false
14. In case of a contract of guarantee, there are 3 parties
15. Creditor is a person to whom the guarantee is given

16. Guarantee is to perform the promise or discharge the lo Aik it if a third person in case of
his default
17. A promise to pay Rs. 1000 if b beats c. Is the agreement legal? - no
18. Guarantee is a unilateral contract for which there must be an offer and and acceptance -
false (bilateral contract)
19. In a contract, an offer is not legal if it is not communicated properly. - true
20. Agent is f by the principle for his lawful acts
1. An express contract terms are explicitly set out

2. Which one is not the remedy for a breach of contract ?
4. Personal accepting the proposal is the promisee
made it - true
1. The duty of judiciary is to interpret and apply the law – False

2. When hearing a criminal case a district & sessions court is: called the sessions court
3. Exclusive definition usually begins with the word means – true
4. Judicial commission consists of: chief justice of Pakistan
5. The type of criminal justice which makes the law breaker an example for others is
called:
deterrent
6. The shariat appellate bench of the supreme court consists of ___ muslim judges of the
supreme court and __ ulema appointed by the president: 3 Muslim judges and 2
ulema
7. District and session judges are directly appointed by the relevant high courts – false
8. Administration of justice is divided into administration of civil justice, administration
of
criminal justice and administration of human rights – false
9. In case of appointment of ____, lawyers must have at least 10 years’ experience as an
advocate: variable
10. The high courts have jurisdiction over: appellate jurisdiction over criminal and
civil
cases in their provice
11. Jurisprudence is often referred to as study of law – true

12. ___ excludes all other meaning or interpretation which it may be ordinarily is capable
of
having: definition
13. Schedules are a part of law – true

14. Judges of tribunals and special courts are not: judges of the supreme court
15. the relation between sub section and section is the same as is between sub clause and
clause. - true
16. In the constitution of Pakistan Majlis-i-Shoora has been substituted for the:
parliament
17. The existence of fixed principles of law avoids the dangers of arbitrary, biased and
dishonest decisions - true
18. Judges of the Supreme Court are supervised by: supreme judicial council
19. Courts in Pakistan are both provincial and federal in nature – true
20. ___________________definition give a precise meaning to the word or term,
replacing
its dictionary meaning: exclusive
21. the Supreme Court also has a Shariat Appellate Bench to review the decisions of the
Supreme Court - true
22. Definition beginning with Includes is expansive in nature: true

23. The Federal Shariat Court consists of: 8 judges
24. The role of an Explanation is more or less that of a Definition – true
25. Every Act (law) is divided into: chapters
1. An agreement made for smuggling goods. Is legal? T / F – False

2. In case of hearing a criminal case, court is called the District Court - False
3. There is no difference between Court of Chancery and Equity. T / F - True
4. Rights and duties among parties can be created without forming a contract T /F –
False
5. A sole proprietor has limited liability. T / F – False
6. Only monetary remedy was available in court of equity T / F - False
7. A contract for Gire insurance is void. Y / N - No
8. Senate sends a bill to the National Assembly for approval. T / F - False
9. The agents are people who bring their principals into contractual relationship
with third parties. - True
10. Senate sends a money bill to the National Assembly for approval. T / F - False
11. Civil Courts consist of : district judge
12. The President has to appoint the Chief Justice of Pakistan: Name recommended
by the supreme Judicial Commission
13. A contract of indemnity and bailment each has two parties. T / F - True
14. In case of breach of contract of sale of some rare article or thing for which there
is no
substitute in the market, the Court may grant: damages
15. An exclusive deGinition gives the ordinary meaning of a word. T / F – False

16. There is no appeal against the decision of the Federal Shariat Court T / F - False
17. Promisee is the: person who accepts the proposal
18. A contract can be formed without the proposal being accepted T / F - False
19. An agreement enforceable by law at the instance of one party & not of other
party – A voidable contract
20. A judge of the Supreme Court can be removed by: the president
21. A contract creates: mutual lawful rights and obligations of the parties to it
22. Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are
example of: implied contract
23. The Parliament has two houses the Senate and the Provincial Assembly. T / F -
False
24. A contract in which, under the terms of a contract, nothing remains to be done by
either party is known as: executed contract
25. An offer and invitation have same legal consequences T / F – False

26. A/ an _________________ is a proposed law, before being passed by the Parliament:
bill
27. An agreement consists of reciprocal promises between at least: two parties
28. Indemnity exists for the security of the creditor T / F - False
29. A proposal stands revoked: by communication of notice of revocation, failure of

acceptor to fulGil a condition precedent, by death or insanity of proper to the
knowledge of acceptor (all of the above)
30. The process of law making is called: legislation
31. The Supreme Court has original, appellate and advisory jurisdiction. T / F - True
32. The life of an Ordinance issued by the President is: 120 days
33. A bill can become a law if it is approved: the national assembly and the senate
(both a and b)
34. Where the contingency of event merely indicates the mode or manner of
performance, the contract is not: void
35. Appeal against an order of the Supreme Court lies with the: none
36. The Chief Justice of Pakistan is the Chairman of: supreme judicial council and
judicial commission (both a and b)
37. Civil Judges are selected after an examination conducted by the Provincial Public
Service Commission – True
38. Laws are rules and regulations which govern the activities of persons within a
country. T / F – True
39. An invitation to offer and an offer have same legal consequences T / F – False
40. In which of the ways can a contract be discharged by operation of law: death of a
promisor
41. The constitution in force in Pakistan was adopted in 1974. T / F – False
42. Offer is: willingness to do or abstain from doing an act in order to obtain the
assent of other thereto
43. Which out of these is not a special court: district court
44. A bill can become a law if it is approved: the senate and the national assembly
(both a and b)
45. A promisor can revoke a proposal any time. T / F – False
46. A magistrate administers both civil and criminal justice. T / F – True
47. A makes a contract with B to beat his business competitor. This is an example of:
illegal contract
48. In case of appointment of__________________, lawyers must have at least 10 years’

experience as an advocate. Variable
49. Civil law aims to compensate, while the criminal law aims to punish. T / F – True
50. Express contract means a contract made by: words, documents (all of the
above)
51. A contract does not create rights and duties upon contracting parties T / F –
False
52. Criminal Justice is concerned with: Punishment of wrongs
53. The agent must not delegate his duty to another person. T / F – False
54. Disputes between and among provincial governments are heard by the High Court of
the respective province T / F – False
55. A appoints B as his agent, by way of a power of attorney. This is an example of:
express contract
56. Procedure for the removal of judges of the superior courts is provided by: the
supreme judicial council

58. Void agreement signiGies: agreement not enforceable by law
59. The Supreme Judicial Council and the Judicial Commission serve the same
purpose. T / F - False
60. Commercial Law means the laws that govern business activities - True
61. According to Partnership Act 1932, in case of change in constitution: rights and
duties remain the same as before; partnership dissolves; rights remain the same
however duties are changed; decided by majority decision of partners.
62. There is no compulsory or mandatory requirement for registration of a partnership in
Pakistan. True; False
63. The relation between partner arises: From an agreement; from status…
64. Person who enter into partnership are collectively called: partners; working partners;
firm; incoming partners.
65. A person can be a partner in a firm if he/she is: of unsound mind; a minor; a married
woman; none.
66. A and B agree to work together as carpenters but that A shall receive all profits and
shall pay wages to B. Are A and B partners? True; False
67. A partner of an unregistered firm can sue for ____ of the firm. Dissolution; goodwill;
nothing; share in property; option 1.
68. In the case of partnership firm. Audit it: compulsory; optional; annual…
69. C and D buy 100 bags of sugar, which they agree to sell for their joint account. Does
this business create a partnership? True; false

70. The regulatory authority in the case of a limited company is the registrar of firms.
True; false.
71. An LLP has the organizational flexibility of a partnership and is taxed as a
partnership. True; False
72. In which of the following cases, the firm is not bound by the acts of the partner? Act
done fraudulently or negligently.
73. A general partnership has no legal existence distinct from the partners themselves,
and the partners are personally responsible for any debts and liabilities that the
business runs up. True
74. Under the partnership act 1932, goodwill of the business is: property of the firm
75. Partnership can even come into being upon an ‘oral agreement’. True
76. All of the following statements are true, except; goodwill has an independent
existence
77. Partners are jointly and severely liable for the firm’s contracts and torturous actions of
the partners acting in the course of the business. True
78.
79. Registered firms have the advantage of tax and consequence of litigation. True
80.
81. Implied authority empowers a partner to open a banking account in his name. False
82. Which of the following in itself is not to constitute a partnership: the sharing of profits
by a persons having a joint of common interest; the receipt by a person of a share of
the profits; the receipt by a person a payment varying with the profits earned by
business; all of the above.
83. A partnership can be created by deed, in writing, orally, or arise from conduct. True
84. In partnership _______ is the act of a partner which binds the firm. Implied
authority
85. Liability of a partner is – unlimited
86. in a partnership, partners are not entitled to any remuneration. True
87. there must be at least two (members of an LLP). true
88. a club has no motive of earning profit and sharing them. True
89. A partnership is a relationship between two or more persons carrying on a business
together with a view to profit. True
90. The act of a firm is of partner

91. a partner who retires from a firm is liable for a partnership debts and obligations
incurred before his retirement. False
92. a firm is the name of: the collective name under which partners business
93. generally rights and obligations of the partnership firm are regulated in: partnership
deed

made it - true

contingent contract
whom it is traded
his default

made it - true
called: deterrent
ulema
of criminal justice and administration of human rights – false
advocate: variable
civil cases in their provice
of having: definition
15. the relation between sub section and section is the same as is between sub clause
and clause. - true
parliament
replacing its dictionary meaning: exclusive
False
7. A contract for fire insurance is void. Y / N - No
is no substitute in the market, the Court may grant: damages
15. An exclusive definition gives the ordinary meaning of a word. T / F – False
False
bill
acceptor to fulfil a condition precedent, by death or insanity of proper to the
(both a and b)
promisor
(both a and b)
illegal contract
above)
False
54. Disputes between and among provincial governments are heard by the High
Court of the respective province T / F – False
express contract
58. Void agreement signifies: agreement not enforceable by law
28. Invitation to treat is an invitation to a person to make an offer T / F - True
17) An agreement which restricts a person’s freedom to marry or to marry any person of his choice is
against public policy and is:
a) Lawful
b) Illegal
c) Void
d) Enforceable
26. Law is a rule of action to which men are obliged to make their conduct comfortable T / F
True
False
6) The Parliamentary Committee consists of:

Option 1
a) Six members
b) Ten members
c) Eight members
d) Four members
21) The Law of Contract is nothing but:

a) A child of commercial deal
b) A child of religion
c) A child of day-to-day politics
d) A child of economics
20. An agreement to be enforceable must be written and registered. T / F

True
False
14. Tribunals and Special Courts are created under a special law T / F
True
False
5. The purpose of a civil action is to provide a remedy for a civil wrong. T / F

True
False
21. For an oral contract a promisor and a promisee can be the same person T / F
True
False
13. A sole proprietor has limited and unlimited liability. T / F

True
False
29. Voidable contract is a contract that one party is entitled to rescind T / F

True
False
7. Business laws are those relevant to anyone engaged in the world of business whether as a trader,
employee, consumer, agent or principal. T / F
True
False
15. A civil judge administers both civil and criminal justice. T / F

True
False
22. There is no difference between a void and a voidable contract T / F

True
False
3. Zia-ul-Haq and Ayub Khan both abrogated the Constitution of Pakistan T / F

True
False
25. A contract made during war with an alien enemy, is illegal? Y / N

Yes
No
23) An agreement is valid:

a) Which creates legal and social obligations of the parties
b) Which creates rights of a party
c) Which is written on a piece of paper and signed by the parties
d) Which creates legally binding right and obligations of the parties to it
5) Powers and functions of the Superior Courts are provided by the:

a) Constitution of 1973
b) Constitution of 1956
c) By the Parliament
d) Presidential ordinance
14) The essential elements of a valid contract is NOT:

a) Agreement
b) Consideration
c) An intention to create legal relations
d) Nationality
12) Appeal against the decision of a civil judge live with the:
a) District Judge
b) Respective High Court
c) Both (a) & (b)
d) There can be no appeal
Option 6
9. Courts in Pakistan are both provincial and federal in nature T / F

True
False
25) ……………… is made by words written.

a) Express contract
b) Implied contract
c) Tacit contract
d) Unlawful contract
3) The subordinate judiciary is appointed by the:

a) By the respective provincial governments
b) On recommendations of the Judicial Commission
c) By (a) and (b)
d) None of the above
9) Qualifications, appointment, service conditions etc. of the judges Supreme Court are laid down:
a) In the Constitution
b) By the Parliamentary Committee
c) Chief Justice
d) Judicial Commission
16. At the provincial level the chief Minister assents to a bill, which then becomes a law T / F
True
False
20) Suppose the time fixed for performance of the contract has expired but the time is not essential.
What is the remedy of the promise in this case:
a) Can rescind the contract
b) To claim compensation
c) No remedy available
d) Can’t be determined
19) A contract with resident of an enemy country is:

a) Illegal
b) Void
c) Valid
d) Voidable
17. An enforceable contract must have a lawful consideration. T / F

True
False
Option 1
27) An implied contract is one which comes into existence on account of

a) Conduct of the parties
b) Non-availability of a paper for writing
c) Inability of the parties to write or speak
d) Directions given by a court
6. Criminal jurisdiction Cases concerned with accusations against persons who have broken the
criminal law. T / F
True
False
28) Contracts classified on the basis of performance are:

a) Executed contracts
b) Executory contracts
c) Partly executed or partly executory contracts
d) All of the above
18. A contract of guarantee and agency each has three parties. T / F

True
False
8) Civil Justice is concerned with:

a) Enforcement of rights
b) Punishment of wrongs
c) Natural Justice
10. Judges of the Federal Shariat Court are appointed by the Chief Justice of Pakistan T / F
True
False
24. Contract in restraint of marriage is void. Y / N

Yes
No
18) Death of Promisee before acceptance terminates the offer:

a) True
b) Partly True
c) False
2. The Prime Minister has the power to issue an Ordinance. T / F

True
False
26) Where a contract has to be inferred from the conduct of parties, it is called
a) Express contract
b) Implied contract
c) Tacit contract
4) The Parliamentary Committee can reject the recommendations of the Judicial Commission:
a) Two third majority
b) Three fourth majority
c) Cannot reject
d) Simple majority
7) The Constitution of Pakistan provides for:

a) Separation of judiciary from the executive
b) Independence of judiciary
c) Both (a) & (b)
d) No provision in the constitution
27. In a memorandum of understanding there are promises. T / F

True
False
1) The Parliament is also known as: *

a) Majlis-e-Shoora
b) The Senate
c) The National Assembly
d) Either (a) or ©
Name *
4. There is no difference between law of nature and laws made by man T / F
True
False
1. A bill becomes a law when the Parliament approves it. T / F

False
True
11. Only a Muslim can be a judge of the Supreme Court T / F

True
False
16) A contingent contract dependent on the non-happening of specified uncertain event within fixed
time can be enforced if the event:
a) Does not happen within fixed time
b) Becomes impossible before the expiry of fixed time
c) Happens within the fixed time
d) Both (a) and (b)
24) ………………. is forbidden by law.

a) Valid contract
b) Illegal agreement
c) Voidable contract
d) Unenforceable contract
8. Administration of justice is divided into administration of civil justice, administration of criminal

justice and administration of human rights. T / F
True
False
23. The principal will usually only be liable if he has authorized the agent to enter into his contract T /
F
True
False
1) Void agreement signifies

a) Agreement illegal in nature
b) Agreement not enforceable by law
c) Agreement violating legal procedure
d) Agreement against public policy.
11) Superior judiciary of Pakistan comprises of :

a) Supreme Court, Federal Shariat Court and Special Courts
b) Supreme Court, Federal Shariat Court and High Courts
c) Federal Shariat Court, Supreme Court and District/Session Courts
d) Supreme Court, High Courts, Special Courts
30) Communication of a proposal is complete

a) When it is put in the course of transmission
b) When it comes to the knowledge of the person to whom it is made
c) When the proposal is communicated to the person to whom it is made
d) All the above.

a) An intention to create legal relations
b) Capacity to contract
c) Consideration
d) A bank guarantee
12. Judicial Commission also recommends the names for the appointment of judges of the Federal
Shariat Court. T / F
True
False
10) Appeal against decisions of the Federal Shariat Court lie with:
a) The Shariat Appellate Bench of the Supreme Court
b) Another bench of the Federal Shariat Court
c) High Court
d) Either (b) or ©
Contractual capacity: Legal power to make contracts. T / F

True
False
1) Which of the following law will be studied during the semester:

c) Partnership Act
a) Employment Laws
b) Law of Torts
d) Benami Transactions Act.
22) Agreement to murder a person:

a) Cannot be enforceable by law
b) Is valid in law
c) Is invalid for want of consideration
d) Has no consensus ad idem
19. In a contract of guarantee the surety promises to perform the promise of a third person.
True
False
13) A bill can be presented in the Parliament by:

a) A Senator
b) An MNA
c) Either a) or b)
d) Only a Minister
Courts in Pakistan are both provincial and federal in nature. True

The type of criminal justice which makes the law breaker an example for others is called:
Deterrent
When hearing a criminal case, a District & Sessions Court is: called the sessions court
Exclusive definitions usually begin with the word Means. True
Exclusive definition gives a precise meaning to the word or term, replacing its dictionary
meaning
Definition excludes all other meaning or interpretation which it may be ordinarily is capable
of having
In case of appointment of__________________, lawyers must have at least 10 years’
experience as an advocate. District and session judges
Administration of justice is divided into administration of civil justice, administration of
criminal justice and administration of human rights. False
Every Act (law) is divided into: chapters
The existence of fixed principles of law avoids the dangers of arbitrary, biased and dishonest
decisions. True Jurisprudence is often referred to as study of law. true
Judicial Commission consists of chief justice of Pakistan
The Federal Sharia Court consists of 8 judges out of which three should be religious scholars
Definition beginning with Includes is expansive in nature true
The role of an Explanation is more or less that of a Definition True
Schedules are part of the law (Act) True
Judges of Tribunals and Special Courts are not
The Supreme Court also has a Sharia Appellate Bench to review the decisions of the Supreme
Court True
The Sharia Appellate Bench of the Supreme Court consists of ________Muslim judges of the
Supreme Court and ______ulema appointed by the President. 3 Muslim judges and 2 ulema
District and Session Judges are directly appointed by the relevant High Courts. False
The duty of judiciary is to interpret and apply the law false
Judges of the Supreme Court are supervised by Supreme Judicial Council
The relation between sub section and section is the same as is between sub clause and clause
true
The High Courts have jurisdiction over Appellate jurisdiction over criminal and civil cases in
their Province
In the constitution of Pakistan Majlis-i-Shoora has been substituted for the Parliament
contingent contract
whom it is traded
his default
19. In a contract, an offer is not legal if it is not communicated properly. - true 20. Agent is
indemnified by the principle for his lawful acts

9. In a contract of guarantee, surety is a person who gives the guarantee - true 10. In
assignment of contract all rights under it must be transferred - true
13. It is essential that a sole proprietor creates a separate business organisation - false 14. S
invites m to dinner but m does not show up. Is it a legal contract? No
made it - true
17. An agreement is a legal document meant to create legal relations - false 18. The person
who gives the indemnity is called indemnifier
Business Law MCQs:

1. In case of public comp the quorum should be 5 members.
2. The memorandum is the fundamental law or a charter defining the object and
limiting the powers of company True
3. The max number of members in public limited company are Unlimited
4. A comp is not a separate entity from the persons actually involved in it. False
5. Annual report is sent by directors to members
6. The companies’ ordinance 1984 regulates all types of companies. True
7. A listed public company is quoted on the stock exchange. False
8. Winding of company has to be under the supervision of the court True
9. Which of the following meeting can be held more than once in a calendar
year. Extra Ordinary General Meeting
10. A comp cannot declare dividend at Statutory Meeting
11. Can an insolvent vote in the company No
12. Minutes is the official recording of the proceedings of a meeting
13. The value of share as quoted on stock exchange is said to be Market Value
14. Is the shareholder of a limited comp a co-owner of its assets? Yes
15. A share of certificate is conclusive evidence of its holders titles to shares True
16. Audit of the accounts of a public company is Compulsory
17. In the absence of a quorum the proceedings of the meeting will be Void
18. Internal audit function is compulsory for all types of companies True
19. Distribution of earning to the shareholder rest with board of directors are
called
20. In case of a private company quorum should be 2 members
21. A particular amount of money used in business for the purpose of earning
profit revenue is known as capital
22. Directors are agents of the company
23. Minimum members of a public limited comp are 7
24. A company is created by Law
25. Distribution of earning to the shareholder is called Dividend
26. A company signifies assent by means of a common seal True
27. Can an insolvent be a member of a company No
28. The resolution passed by AGM are Valid
29. Promoters take procedural steps to set up a company and make business
preparations for the company True
30. A public comp can be listed or unlisted True
31. Every AGM must be held with 9 month from the date of the balance sheet
32. The company registered name must be displayed outside the register
office and at all place of business and documents true
33. A comp is created by Law True
34. Consideration is necessary in case of transfer of shares Yes
35. A company is managed by Directors
36. Promoters have a general duty to exercise reasonable care and skill and a
fudiciary duty towards the comp true
37. The certificate of incorporation is conclusive evidence for a private limited
comp to commence business True
38. A comp is formed by Promoters
39. Capital of the Company is fixed by Memorandum of associations
40. Constitutional document is the articles of association which state all the rules
necessary for conduct of business True
41. in case of adjourned meeting is it necessary to wait for the quorum. Yes
42. The power of the company are governed by Memorandum of Association
43. Total amount of capital in case of company is divided into small units, these
units are called: shares
44. A special resolution is passed with: 75%
45. A public limited company required minimum seven members. True
46. A company must not have the same name as one that is already on the register.
True
47. The first directors of a company are appointed at its statutory meeting. False
48. In Pakistan the companies are registered under: company act, 2017
49. Every business transacted at an EGM is a ______ business special
50. Quorum should be present at the commencement of meeting
51. The maximum number of members in private limited company are: 50
52. The word limited should be after the name of: registered company
53. Can a partnership be a member of the company No
54. Statutory meeting must be hold in case of a public company Yes
55. A company ‘dies’ when it goes bankrupt. True
56. The constitution of a company binds the company and its shareholders. True
57. AGM should be held at registered office
58. In a company limited by guarantee members undertake to contribute assets on
being wound up. True
59. If quorum is not present with in ____ time the meeting is stand dissolved. ½
Hr.
60. A partnership: is voluntary
61. Every partner is an agent of the firm and all the co-partners. T / F
True
62. Which of the following acts are not included in the implied authority of
a partner? To enter into a partnership
63. According to law, in a partnership a minor cannot inspect and access
the book of accounts and share the net profits and property. T / F
false
64. ________________is one of the essential elements of partnership
agreement: sharing profit
65. The regulatory authority in the case of a limited liability partnership is
the Registrar of Firm. T / F false
66. An LLP, introduced by the Limited Liability Partnerships Act 2017, is
a body corporate and has a legal personality separate from that of its
members. T / F true
67. Firm is association of two or more persons to carry on a business. T /
F true
68. A company has its own distinct legal personality separate from its
members. It can enter into contracts, be liable in tort and criminal law,
and own assets and property. T / F true
69. Partnership property vests – in the firm
70. Public Notice is: published in a vernacular newspaper
71. Registration of Firm does not create Partnership, but is only the
evidence of existence of Partnership. true
72. Partnership is a type of business entity in which partners only share
with each other the profits of the business. T / F false
73. In partnership _______________________gets share in the net
profits of the firm. Sleeping partner
74. Each partner is self-employed and takes a share of the profits and
usually participates in the decision-making. T / F true
75. Partnership agreements may be implied or expressed
76. Unmarried woman is incompetent to enter into a partnership. T / F
false
77. A partner becomes “Outgoing” in case of: insolvency, retirement, by
order of the court.
78. The property of the firm includes all property acquired by or for the
firm, property purchase with money belonging to the firm, for the
purpose or in the course of business of the firm
79. implied Authority empowers a partner to open a banking account in his name
T / F false
• Offeree is a person to whom an offer is made T / F True
• The consideration in a contract of sale is called: Price
• The first directors of a company are appointed at its statutory meeting. T/F F
• When, at the desire of the promisor, the promisee or any other person has done or
abstained from doing or, does or abstain from doing or promises to do or to abstain
from doing something, such act or abstinence or promise under section 2(d) is called
consideration
• Unascertained goods that are described but are not identifiable at the 1 point time
the contract is made. T/F T
• A company can exist without law T/F F
• Drawing cash from ATM, sale by fall of hammer at an auction sale, etc., are
example of implied contract
• Merchantable quality goods must be commercially saleable under the
description by which they are sold. T/F T
• A public limited wanting to have its shares has to obtain permission from the
relevant Stock Exchange. T/F T
• A proposal stands revoked by communication of notice of revocation, failure of
• Every AGM must be held with ______ from the date of the Balance Sheet. 9 month
• The present sale of future goods is an agreement to sell. T / F T
• The company’s registered name must be displayed outside the registered office
and at all places of business and on company documents, etc. T/F T
• Offer is: willingness to do or abstain from doing an act in order to obtain the
• A company ‘dies’ when it goes bankrupt. T/F T
• When a breach of a condition is treated as a breach of a warranty, the buyer can:
repudiate the contract
• The property of the firm shall be held and used by the partners exclusively for
the purposes of the business. T/F T
• The subject matter of contract must always be goods. The goods may be: existing
goods, future goods, and contingent goods. (All of the above)
• Illegal contract is a contract where the purpose or the object of the contract is
illegal T / F T
• The regulatory authority in the case of a limited liability partnership is the
Registrar of Firm. T/F False
• Under the Sale of Goods Act, 1930, a contract of sale of goods can be in writing or
by word of moth. (either a or b)
• The concept of partnership commensurate with principal and agent
• Each partner is self-employed and takes a share of the profits and usually
participates in the decision-making. T/F T
• A contract in which, under the terms of a contract, one or both the parties have
still to perform their obligations in future is known as executed contract
• Where the obligation in a contract is outstanding on the part of both parties, it is
called bilateral contract
• An offer and its acceptance is the basic requirement of an agreement and as per
this requirement an offer by one party should be made to another who may or
may not be related to him
• Maximum members in case of private company 50
• The patenting of an invention may enable the patentee to sell or license the
invention. T/F T
• For a Sale the price for the goods: may be promised or paid
• Partners can use the firm property for any purpose. T/F F
• Statutory meeting is held once in lifetime of a company T/F T
• Registeration of Firm does not create Partnership, but is only the evidence of
existence of Partnership. True
• The Person to whom the rights and duties are endorsed is called ______ endorsee
• Every partner is an agent of the firm and all the co-partners. T/F True
• The regulatory authority in the case of a limited liability partnership is the
Security Exchange Commission of Pakistan. T/F T
• A contract is executed (fulfilled) when there is; sales plus conveyance
• _________ are the prospectus issued instead of full prospectus abridged
• Partnership property vests – in the firm
• A offers not to file a suit against B, if the latter pays A the amount outstanding. Is
it a proposal? True
• Which of the following acts are not included in the implied authority of a
partner? To enter into a partnership on behalf of the firm
• The object of a partnership is of making and sharing losses. T/F F
• Consideration is necessary in case of transmission of shares Y/N N
• Directors are ________ of the company none of the above
• Promoters take procedural steps to set up a company and make business preparations
for the company True
• Auditors of a company have no access books of account of a company. False
• A partner can examine the books etc., of the partnership firm as many number
of times without restriction
• As regards the capital contribution in the partnership business, the status of a
partner is that of a creditor of the firm
• In a Sale ownership of goods has passed on to: buyer
• Acceptance is the act of assenting to an offer. T / F True
• Remedies available in a condition and a warranty are the same in each case. T/F
F
• A minor can take part in the management of the business. T/F T
• The Copyright Ordinance, 1962 does not apply to copyright in Pakistan T/F F
• A public limited company requires minimum seven members. T/F T
• Partnership is the state or condition of being a partner T/F T
• Consideration: A promise by one party to give, do or refrain from doing
something in return for similar by the other party. T / F T
• The implied conditions are as to title, correspondence with description,
merchantable quality, fitness for purpose and sale by sample. T/F T
• Statutory meeting must be held in case of a public company Y/N Y
• Private company can start business only after getting certificate of
commencement of business
• A partnership has a separate legal entity apart from its members T/F F
• Which of the following is not in existence at the time of contract of sale? Future
goods and contingent goods
• The chief executive of a private company can engage in competitive business.
T/F T
• Promisee: A person to whom a promise is made T / F T
• Property relates to the ownership of, or title to, goods whereas possession refers
to the custody or control of goods. T/F T
• notice of statutory meeting should be given with a period not less than 21 clear
days
• in case of private company the quorum should be 2 members
• Promisor is the person who makes a promise T / F T
• In Sale of Goods the item of property must be: tangible and moveable
• Registration of a private Company is not necessary. T/F F
• In a contract there are promises. T / F T
• In a company limited by guarantee members undertake to contribute assets on
• Intellectual property the legal rights that relate to intangible property. T/F T
• The Patents Ordinance, 2000 does not extend to whole of Pakistan T/ F T
• The functional head of the Intellectual Property Organization is: director
general
• The implied authority of a partner does NOT empower him to: submit a business
dispute to arbitration, relinquish a claim, open a bank account on behalf of the
firm. (all of the above)
• Promisee is the person to whom the promise is made
• An LLP, introduced by the Limited Liability Partnerships Act 2017, is a body
corporate and has a legal personality separate from that of its members. T/F T
• A registered trade mark is an asset that can be included in the valuation of a
businesses. T/F T
• Partnership agreements may be implied or expressed
• Earnest money is part payment in advance for due performance of contract. T / F
T
• Partnership is: The relationship between persons who have agreed to share
the profits of jointly
• owned property managed by all or any of them acting for all.
• Promises which form the consideration or part of the consideration for each
other are called
• Under the Sale of Goods Act, 1930, the term 'goods' does not include:
• A promised to marry B. Later on B died. This contract of marriage
• The property of the firm includes all property
• is the conclusive evidence in case of company that statutory requirements have
complied with
• Directors are ________ of the company
• For a banking business, the maximum number of partners in a partnership,
under the Companies Ordinance, can be
• An agreement enforceable by law at the instance of one party & not of other
party
• The resolution passed at AGM are ______
• A warranty is essential to the performance of a contract. T / F
• Whether a partnership exists or not is a
• In an agreement ownership has not passed on to the buyer.
• When a public company has been registered and has received its Certificate of
Incorporation it is ready for floatation. T/F
• Title is the formal right of ownership of property. T / F
• A company has its own distinct legal personality separate from its members. It
can enter into contracts, be liable in tort and criminal law, and own assets and
property. T/F
• The essential elements of a valid contract is NOT:
• ___________ resolution should be passed by the company to offer shares to
outsiders
• Transmission of shares is effected by
• Alteration of articles must be done only by passing
• ___________ conceives the idea of the business
• Registration of Firm does not create Partnership, but is only the evidence of
existence of Partnership.
• A company can exist without law T/F T/F
made it - true

contingent contract

whom it is traded


his default

made it - true

called:
deterrent
ulema
of
criminal justice and administration of human rights – false
advocate: variable
civil
cases in their provice

of
having: definition

15. the relation between sub section and section is the same as is between sub clause and
clause. - true
parliament
replacing
its dictionary meaning: exclusive


False
7. A contract for Gire insurance is void. Y / N - No
is no
substitute in the market, the Court may grant: damages
15. An exclusive deGinition gives the ordinary meaning of a word. T / F – False

False

bill

(both a and b)
promisor
(both a and b)
illegal contract

above)
False
54. Disputes between and among provincial governments are heard by the High Court of
the respective province T / F – False
express contract

58. Void agreement signiGies: agreement not enforceable by law
According to Partnership Act 1932, in case of change in constitution: rights and duties
remain the same as before; partnership dissolves; rights remain the same however duties are
changed; decided by majority decision of partners.
There is no compulsory or mandatory requirement for registration of a partnership in
Pakistan. True; False
The relation between partner arises: From an agreement; from status…
Person who enter into partnership are collectively called: partners; working partners; firm;
incoming partners.
A person can be a partner in a firm if he/she is: of unsound mind; a minor; a married
woman; none.
A and B agree to work together as carpenters but that A shall receive all profits and shall pay
wages to B. Are A and B partners? True; False

A partner of an unregistered firm can sue for ____ of the firm. Dissolution; goodwill;
nothing; share in property; option 1.
In the case of partnership firm. Audit it: compulsory; optional; annual…
C and D buy 100 bags of sugar, which they agree to sell for their joint account. Does this
business create a partnership? True; false
The regulatory authority in the case of a limited company is the registrar of firms. True; false.
An LLP has the organizational flexibility of a partnership and is taxed as a partnership. True;
False
In which of the following cases, the firm is not bound by the acts of the partner? Act done
fraudulently or negligently.
A general partnership has no legal existence distinct from the partners themselves, and the
partners are personally responsible for any debts and liabilities that the business runs up.
True
Under the partnership act 1932, goodwill of the business is: property of the firm
Partnership can even come into being upon an ‘oral agreement’. True
All of the following statements are true, except; goodwill has an independent existence
Partners are jointly and severely liable for the firm’s contracts and torturous actions of the
partners acting in the course of the business. True
Registered firms have the advantage of tax and consequence of litigation. True
Implied authority empowers a partner to open a banking account in his name. False
Which of the following in itself is not to constitute a partnership: the sharing of profits by a
persons having a joint of common interest; the receipt by a person of a share of the profits;
the receipt by a person a payment varying with the profits earned by business; all of the
above.
A partnership can be created by deed, in writing, orally, or arise from conduct. True
In partnership _______ is the act of a partner which binds the firm. Implied authority
Liability of a partner is – unlimited
in a partnership, partners are not entitled to any remuneration. True
there must be at least two (members of an LLP). true
a club has no motive of earning profit and sharing them. True

A partnership is a relationship between two or more persons carrying on a business together
with a view to profit. True
The act of a firm is of partner
a partner who retires from a firm is liable for a partnership debts and obligations incurred
before his retirement. False
a firm is the name of: the collective name under which partners business
generally rights and obligations of the partnership firm are regulated in: partnership deed

made it - true
contingent contract
whom it is traded
his default

made it - true
called: deterrent
ulema
of criminal justice and administration of human rights – false
advocate: variable
civil cases in their provice
of having: definition
40. the relation between sub section and section is the same as is between sub clause
and clause. - true
parliament
replacing its dictionary meaning: exclusive
False
67. A contract for fire insurance is void. Y / N - No
is no substitute in the market, the Court may grant: damages
75. An exclusive definition gives the ordinary meaning of a word. T / F – False
False
bill
acceptor to fulfil a condition precedent, by death or insanity of proper to the
(both a and b)
100. In which of the ways can a contract be discharged by operation of law:
death of a promisor
102. Offer is: willingness to do or abstain from doing an act in order to
obtain the assent of other thereto
104. A bill can become a law if it is approved: the senate and the national
assembly (both a and b)
107. A makes a contract with B to beat his business competitor. This is an
example of: illegal contract
108. In case of appointment of__________________, lawyers must have at least 10
years’ experience as an advocate. Variable
109. Civil law aims to compensate, while the criminal law aims to punish. T / F
– True
above)
111. A contract does not create rights and duties upon contracting parties T / F
– False
114. Disputes between and among provincial governments are heard by the
High Court of the respective province T / F – False
115. A appoints B as his agent, by way of a power of attorney. This is an
example of: express contract
116. Procedure for the removal of judges of the superior courts is provided by:
the supreme judicial council
118. Void agreement signifies: agreement not enforceable by law
28. Invitation to treat is an invitation to a person to make an offer T / F - True
17) An agreement which restricts a person’s freedom to marry or to marry any person of his choice is
against public policy and is:
a) Lawful
b) Illegal
c) Void
d) Enforceable
True
False

Option 1
a) Six members
b) Ten members
c) Eight members
d) Four members

a) A child of commercial deal

True
False
True
False

True
False
True
False

True
False

True
False
7. Business laws are those relevant to anyone engaged in the world of business whether as a trader,
employee, consumer, agent or principal. T / F
True
False
True
False

True
False

True
False

Yes
No



a) Agreement
b) Consideration
d) Nationality
a) District Judge
c) Both (a) & (b)
Option 6

True
False

a) Express contract
b) Implied contract
c) Tacit contract

c) By (a) and (b)
9) Qualifications, appointment, service conditions etc. of the judges Supreme Court are laid down:
c) Chief Justice
True
False
20) Suppose the time fixed for performance of the contract has expired but the time is not essential.
What is the remedy of the promise in this case:
b) To claim compensation

a) Illegal
b) Void
c) Valid
d) Voidable

True
False
Option 1

6. Criminal jurisdiction Cases concerned with accusations against persons who have broken the
criminal law. T / F
True
False

d) All of the above

True
False

c) Natural Justice
True
False

Yes
No

a) True
b) Partly True
c) False

True
False
a) Express contract
b) Implied contract
c) Tacit contract
4) The Parliamentary Committee can reject the recommendations of the Judicial Commission:
c) Cannot reject
d) Simple majority

c) Both (a) & (b)

True
False

a) Majlis-e-Shoora
b) The Senate
d) Either (a) or ©
Name *

True
False

False
True

True
False
16) A contingent contract dependent on the non-happening of specified uncertain event within fixed
time can be enforced if the event:
d) Both (a) and (b)

a) Valid contract
8. Administration of justice is divided into administration of civil justice, administration of criminal

justice and administration of human rights. T / F
True
False
23. The principal will usually only be liable if he has authorized the agent to enter into his contract T /
F
True
False

11) Superior judiciary of Pakistan comprises of :

d) All the above.

c) Consideration
d) A bank guarantee
12. Judicial Commission also recommends the names for the appointment of judges of the Federal
Shariat Court. T / F
True
False
c) High Court
d) Either (b) or ©

True
False
1) Which of the following law will be studied during the semester:

c) Partnership Act
a) Employment Laws
b) Law of Torts

b) Is valid in law
True
False

a) A Senator
b) An MNA
c) Either a) or b)
d) Only a Minister
Business Law MCQs:

1. In case of public comp the quorum should be 5 members.
2. The memorandum is the fundamental law or a charter defining the object and
limiting the powers of company True
3. The max number of members in public limited company are Unlimited
4. A comp is not a separate entity from the persons actually involved in it. False
5. Annual report is sent by directors to members
6. The companies’ ordinance 1984 regulates all types of companies. True
7. A listed public company is quoted on the stock exchange. False
8. Winding of company has to be under the supervision of the court True
9. Which of the following meeting can be held more than once in a calendar
year. Extra Ordinary General Meeting
10. A comp cannot declare dividend at Statutory Meeting
11. Can an insolvent vote in the company No
12. Minutes is the official recording of the proceedings of a meeting
13. The value of share as quoted on stock exchange is said to be Market Value
14. Is the shareholder of a limited comp a co-owner of its assets? Yes
15. A share of certificate is conclusive evidence of its holders titles to shares True
16. Audit of the accounts of a public company is Compulsory
17. In the absence of a quorum the proceedings of the meeting will be Void
18. Internal audit function is compulsory for all types of companies True
19. Distribution of earning to the shareholder rest with board of directors are
called
20. In case of a private company quorum should be 2 members
21. A particular amount of money used in business for the purpose of earning
profit revenue is known as capital
22. Directors are agents of the company
23. Minimum members of a public limited comp are 7
24. A company is created by Law
25. Distribution of earning to the shareholder is called Dividend
26. A company signifies assent by means of a common seal True
27. Can an insolvent be a member of a company No
28. The resolution passed by AGM are Valid
29. Promoters take procedural steps to set up a company and make business
preparations for the comp True
30. A public comp can be listed or unlisted True
31. Every AGM must be held with 9 month from the date of the balance sheet
32. The comp registered name must be displayed outsie the register office and
at all place of business and docs true
33. A comp is created by Law True
34. Consideration is necessary in case of transfer of shares Yes
35. A comp is managed by Directors
36. Promoters have a general duty to exercise reasonable care and skill and a
fudiciary duty towards the comp true
37. The certificate of incorporation is conclusive evidence for a private limited
comp to commence business True
38. A comp is formed by Promoters
39. Capital of the Company is fixed by Memorandum of associations
40. Constitutional document is the articles of association which state all the rules
necessary for conduct of business True
41. in case of adjourned meeting is it necessary to wait for the quorum. Yes
42. The power of the company are governed by Memorandum of Association
43. Total amount of capital in case of company is divided into small units, these
units are called: shares
44. A special resolution is passed with: 75%
45. A public limited company required minimum seven members. True
46. A company must not have the same name as one that is already on the register.
True
47. The first directors of a company are appointed at its statutory meeting. False
48. In Pakistan the companies are registered under: company act, 2017
49. Every business transacted at an EGM is a ______ business special
50. Quorum should be present at the commencement of meeting
51. The maximum number of members in private limited company are: 50
52. The word limited should be after the name of: registered company
53. Can a partnership be a member of the company No
54. Statutory meeting must be hold in case of a public company Yes
55. A company ‘dies’ when it goes bankrupt. True
56. The constitution of a company binds the company and its shareholders. True
57. AGM should be held at registered office
58. In a company limited by guarantee members undertake to contribute assets on
59. If quorum is not present with in ____ time the meeting is stand dissolved. ½
Hr.
60.
61. Consideration: A promise by one party to give, do or refrain from doing
something in return for similar by the other party. True
62. Registration of Firm does not create Partnership, but is only the evidence of
existence of Partnership. True
63. A company can exist without law False
64. Promises which form the consideration or part of the consideration for each
other are called Reciprocal Promises
65. Property relates to the ownership of, or title to, goods whereas possession
refers to the custody or control of goods. True
66. A partnership has a separate legal entity apart from its members. False
67. A offers not to file a suit against B, if the latter pays A the amount
outstanding. Is it a proposal? False
68. A minor can take part in the management of the business. False
69. The implied conditions are as to title, correspondence with description,
merchantable quality, fitness for purpose and sale by sample. True
70. For a banking business, the maximum number of partners in a partnership,
under the Companies Ordinance, can be twenty
71. The functional head of the Intellectual Property Organization is: Director
General
72. The consideration in a contract of sale is called: Price
73. An offer and its acceptance is the basic requirement of an agreement and as
per this requirement an offer by one party Should be made to another who
may or may not be related to him
74. The chief executive of a private company can engage in competitive business.
True
75. Whether a partnership exists or not is a Mixed question of fact and law
76. The regulatory authority in the case of a limited liability partnership is the
Security Exchange Commission of Pakistan True
77. The Patents Ordinance, 2000 does not extend to whole of Pakistan False
78. A public limited company requires minimum seven members. True
79. Promisee is the Person who accepts the proposal
80. The Person to whom the rights and duties are endorsed is called Endorsee
81. Consideration is necessary in case of transmission of shares Yes
party Voidable
83. Earnest money is part payment in advance for due performance of contract.
True
84. The property of the firm includes all property All of the above
85. The regulatory authority in the case of a limited liability partnership is the
Registrar of Firm. True
86. A partner can examine the books etc., of the partnership firm As many
number of times
87. Every partner is an agent of the firm and all the co-partners. True
88. The subject matter of contract must always be goods. The goods may be: All
of the above
89. Offeree is a person to whom an offer is made True
90. The object of a partnership is of making and sharing losses. True
91. Alteration of articles must be done only by passing Special Resolution
92. Certificate of incorporation is the conclusive evidence in case of company
that statutory requirements have complied with
93. Merchantable quality goods must be commercially saleable under the
description by which they are sold. True
94. Offer is: Willingness to do or abstain from doing an act in order to obtain
the assent of other thereto
95. Partners can use the firm property for any purpose. False
96. The company’s registered name must be displayed outside the registered
office and at all places of business and on company documents, etc. True
example of Implied contract
98. In Sale of Goods the item of property must be: Tangible and moveable
99. Under the Sale of Goods Act, 1930, the term 'goods' does not include:
100. Promisee: A person to whom a promise is made True
101. An LLP, introduced by the Limited Liability Partnerships Act 2017, is
a body corporate and has a legal personality separate from that of its members.
True
102. Auditors of a company have no access books of account of a company.
False
103. Transmission of shares is effected by _______ Both b and c
104. For a Sale the price for the goods: May be promised or paid
105. A company has its own distinct legal personality separate from its
members. It can enter into contracts, be liable in tort and criminal law, and
own assets and property. True
106. The first directors of a company are appointed at its statutory meeting.
False
107. Registration of a private Company is not necessary. False
108. Remedies available in a condition and a warranty are the same in each
case. True
109. A contract in which, under the terms of a contract, one or both the
parties have still to perform their obligations in future is known as executory
contract
110. The patenting of an invention may enable the patentee to sell or license
the invention. True
111. Partnership is: The relationship between persons who have agreed
to share the profits of jointly owned property managed by all or any of
them acting for all.
True
False
8. Administration of justice is divided into administration of civil justice, administration of
criminal justice and administration of human rights. T / F
True
False
True
False
True
False
9) Qualifications, appointment, service conditions etc. of the judges Supreme Court are laid
down:
c) Chief Justice
1) Which of the following law will be studied during the semester: *
c) Partnership Act
a) Employment Laws
b) Law of Torts
a) Agreement
b) Consideration
d) Nationality
True
False
12. Judicial Commission also recommends the names for the appointment of judges of the
Federal Shariat Court. T / F
True
False
a) Illegal
b) Void
c) Valid
d) Voidable
c) Natural Justice
True
False
a) Valid contract
7. Business laws are those relevant to anyone engaged in the world of business whether as a
trader, employee, consumer, agent or principal. T / F
True
False
a) Express contract
b) Implied contract
c) Tacit contract
16) A contingent contract dependent on the non-happening of specified uncertain event

within fixed time can be enforced if the event:
d) Both (a) and (b)
True
False
23. The principal will usually only be liable if he has authorized the agent to enter into his
contract T / F
True
False
11) Superior judiciary of Pakistan comprises of:

17) An agreement which restricts a person’s freedom to marry or to marry any person of his
choice is against public policy and is:
a) Lawful
b) Illegal
c) Void
d) Enforceable

True
False

Option 1
a) Six members
b) Ten members
c) Eight members
d) Four members
c) High Court
d) Either (b) or (c)

True
False

True
False

True
False

c) Consideration
d) A bank guarantee

Yes
a) District Judge
c) Both (a) & (b)
Option 6
28. Invitation to treat is an invitation to a person to make an offer T / F30.

True
False
True
False
True
False (NOT SURE)

a) A child of commercial dealing

True
False
a) Express contract
b) Implied contract
c) Tacit contract
a) True
b) Partly True
c) False
Option 1
6. Criminal jurisdiction Cases concerned with accusations against persons who have broken
the criminal law. T / F
True
False
b) Is valid in law
True
False

d) All the above.
4) The Parliamentary Committee can reject the recommendations of the Judicial
Commission:
c) Cannot reject
d) Simple majority


c) Both (a) & (b)

Name *
d) All of the above
True
False
a) A Senator
b) An MNA
c) Either a) or b)
d) Only a Minister

True
False
True
False

True
False
Yes
No
20) Suppose the time fixed for performance of the contract has expired but the time is not
essential. What is the remedy of the promise in this case:
b) To claim compensation (NOT SURE)
True
False

False
True

True
False

b) The Senate
a) Majlis-e-Shoora
d) Either (a) or (c)

True
False
c) By (a) and (b)

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1.

An express contract terms are explicitly set out

1. Fraud and misrepresentation make a contract valid - false

5. Communication of a proposal is complete when it comes to the knowledge of the person to

8. In breach of a contract, no remedies available - false (recession, injunction, damages,

15. Creditor is a person to whom the guarantee is given

1. An express contract terms are explicitly set out

1. The duty of judiciary is to interpret and apply the law – False

criminal justice and administration of human rights – false

9. In case of appointment of ____, lawyers must have at least 10 years’ experience as an

cases in their provice

11. Jurisprudence is often referred to as study of law – true

13. Schedules are a part of law – true

dishonest decisions - true

its dictionary meaning: exclusive

Supreme Court - true

22. Definition beginning with Includes is expansive in nature: true

1. An agreement made for smuggling goods. Is legal? T / F – False

substitute in the market, the Court may grant: damages

15. An exclusive deGinition gives the ordinary meaning of a word. T / F – False

either party is known as: executed contract

25. An offer and invitation have same legal consequences T / F – False

29. A proposal stands revoked: by communication of notice of revocation, failure of

judicial commission (both a and b)

45. A promisor can revoke a proposal any time. T / F – False

46. A magistrate administers both civil and criminal justice. T / F – True

48. In case of appointment of__________________, lawyers must have at least 10 years’

57. The process of law making is called: legislation

however duties are changed; decided by majority decision of partners.

62. There is no compulsory or mandatory requirement for registration of a partnership in

Pakistan. True; False

firm; incoming partners.

shall pay wages to B. Are A and B partners? True; False

nothing; share in property; option 1.

this business create a partnership? True; false

71. An LLP has the organizational flexibility of a partnership and is taxed as a

partnership. True; False

done fraudulently or negligently.

business runs up. True

the partners acting in the course of the business. True

by a persons having a joint of common interest; the receipt by a person of a share of

business; all of the above.

85. Liability of a partner is – unlimited

86. in a partnership, partners are not entitled to any remuneration. True

87. there must be at least two (members of an LLP). true

89. A partnership is a relationship between two or more persons carrying on a business

together with a view to profit. True

90. The act of a firm is of partner

incurred before his retirement. False

1. An express contract terms are explicitly set out

1. Fraud and misrepresentation make a contract valid - false

1. An express contract terms are explicitly set out

6) The Parliamentary Committee consists of:

21) The Law of Contract is nothing but:

20. An agreement to be enforceable must be written and registered. T / F

5. The purpose of a civil action is to provide a remedy for a civil wrong. T / F

13. A sole proprietor has limited and unlimited liability. T / F

29. Voidable contract is a contract that one party is entitled to rescind T / F

15. A civil judge administers both civil and criminal justice. T / F

22. There is no difference between a void and a voidable contract T / F

3. Zia-ul-Haq and Ayub Khan both abrogated the Constitution of Pakistan T / F

25. A contract made during war with an alien enemy, is illegal? Y / N

23) An agreement is valid: