300+ TOP Business Law MCQs

1/10/22, 1:46 PM 300+ TOP Business Law MCQs and Answers Quiz Test 2022 [Latest]
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Business Law MCQs and Answers Quiz Test

300+ TOP Business Law MCQs
and Answers Quiz Test

Business Law multiple Choice Questions | Legal
Aspects
1. Law is either private law or _________ law.
1)Public
2)Private
3)Local
4)Family
2. A breach of contract can be of ___________ breach
1)Discharged
2)Illegal
3)Void
4)None of these
3. How many parties are there to a Promissory note?
(1) Two parties
(2) One party
(3) Four party
(4) Three parties
4. A minor can be an _____________?
1) Surety
2) Agent
3) Partner
4) All of these
https://engineeringinterviewquestions.com/business-law-mcqs-and-answers/ 1/34
5. Public Law is divided into ________ categories?
1)Three
2)Four
3)Two
4)None of these
6. An agreement that is caused by fraud,

misrepresentation & coercion is _____?
1)Voidable
2)Partially Void
3)Valid
4)All of these
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7. The person which is represented as an agent ______?
1) Middleman
2) Owner
3)None of these
4) Principal
8. Public law includes _______law?
1) Administrative
2) Constitution
3) Criminal
4) All of these
5)None of these
9. Contingent goods belongs to _______ goods?
1)Existing
2)Future
3)Contingent
4)None of these
10. Is voidable contract?
1) Partly valid agreement
2) An illegal agreement
3) All of these
4) None of these
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11. Consumer Protection Act is applicable to
A. immovable goods
B. movable goods
C. specific goods and services
D. all goods and services
12. The total number of rights given to consumers as per

the consumer protection Act is
A. 5
B. 4
C. 6
D. 8
13. “Consumer has the right to present before the

appropriate forum or authorities all those matters which
affect his interests “ this right of a consumer is termed as
a right to be
A. informed
B. heard
C. safety
D. educated
14. The rights of consumers as per the consumer

protection Act does not include the right to be
A. informed
B. heard
C. safety
D. presented
15. When the seller manipulates the price then it is
A. Restrictive trade practices
B. unfair trade practices
C. caveat emptor
D. none of the above
16. Fraud exists when it is shown that a false

representation had been made_____________.
A. knowingly.
B. unknowingly.
C. unintentionally.
D. recklessly, not caring whether true or false.
Answer: A
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17. Which of the relationships raise presumption of

undue influence _____
A. landlord and tenant
B. parents and child.
C. doctor and patient.
D. husband and wife.
Answer: B
18. If there is error in causal, the contract is

_____________.
A. void.
B. voidable.
C. valid.
D. illegal.
Answer: B
19. The collateral transaction to an illegal agreement

are_________.
A. void.
B. illegal.
C. voidable.
D. not affected at all.
Answer: B
20. An agreement made with an alien enemy is

_________.
A. unlawful on the ground of public policy.
B. unlawful because it becomes difficult to be performed.
C. valid.
D. voidable.
Answer: A
21. In which year IRDA Act passed in __________
A. 1999
B. 2000
C. 2001
D. 2002
Answer: A
22. When the promisee refuses to accept performance

from the promiser who offers to perform, it is
A. attempted performance
B. vicarious performance
C. tender.
D. frustration of contract
Answer: A
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23. When a party to a contract transfers his contractual

rights to another, it is known as ________.
A. rescission of contract
B. waiver of contract.
C. discharge of contract.
D. assignment of contract
Answer: D
24. Assignment by operation of law takes

place_______________.
A. . by the mutual consent of the parties.
B. by the will of either party.
C. when the subject matter of a contract cases to exist.
D. by the death of a party to a contract.
Answer: D
25. A who ooze 10,000 to B dies living and estate of Rs

6,000. The legal representatives of A are
_______________.
A. liable for rs 10,000
B. liable for rs 6,000.
C. no liable at all.
D. liable for Rs 3,000.
Answer: B
26. If a contract contains an undertaking to perform

impossibility, the contract is __________.
A. void ab initio.
B. void.
C. voidable at the option of the plaintiff.
D. illegal.
Answer: A
27. An agreement to do an act impossible in

itself__________.
A. is void.
B. is voidable.
C. is void ab initial.
D. becomes void when impossibility is discovered.
Answer: A
28. Were a contact could not be performed because of the

default by a third party on whose work the promiser
relied, it ______________.
A. it is not discharged.
B. is discharged.
C. becomes void.
D. becomes voidable.
Answer: A
29. The Head Quarters of IRDA in which place ________
A. Chennai
B. Delhi
C. Coimbatore
D. Bangalore
Answer: B
30. Specific performance may be ordered by the court

when ______________.
A. . the contract is voidable
B. the damages are an adequate remedy
C. the damages are not an adequate remedy.
D. the contract is uncertain.
Answer: C
31. The measure of damages in case of breach of a

contract is the difference between the
_______________.
A. contract price and the market price at the date of breach.
B. contract price when the maximum market price during the terms
of the contract.
C. contract and the price at which the plane tiff might have sold the
goods.
D. contract price and the price fixed by the court.
Answer: A
32. Anticipatory breach of a contract takes place

_____________
A. During the performance of the contract
B. At the time when the performance is due
C. Before the performance is due
D. At the time when the contract is entered into
Answer: C
33. In case of wrongful dishonour of a cherub by a banker

having sufficient fund to the credit of the customer, the
court nay award
A. Ordinary damage
B. Nominal damage
C. Exemplary damage
D. Contemptuous damages
Answer: C
34. The contract of indemnity is a _____________
A. Contingent contract
B. Wagering contract
C. Quasi-contract
D. Void agreement
Answer: A
35. S and P go into a shop. S says to the shopkeeper, C let

P have the goods, and if he does not pay you, I will. This is
a __________
A. contract of guarantee
B. contract of indemnity.
C. Wagering contract
D. Quasi-contract
Answer: A
36. A bailer is a _________
A. a right of a particular lien over the goods bailed
B. a right of generation
C. a right of both particular and general lien
D. no lien at all over the goods bailed
Answer: A
37. The position of a finder of lost goods is that of a

______________
A. Bailer
B. Bailee
C. Surety
D. Principal debtors
Answer: A
38. The gratuitous bailer is liable to the bailer for the

defects in the goods bailed_______________
A. Even if he is not aware of them
B. Only if he is aware of them
C. In all cases of loss

D. In certain case of loss
Answer: B
39. A who purchases certain goods from B by a

misrepresentation pledges them with C . the pledge is
_________________
A. valid
B. void
C. voidable
D. invalid
Answer: B
40. In a sale, the property in goods_______________
A. Is transferred to the buyer.
B. Is yet to be transferred to the buyers.
C. May be transferred at a future time.
D. Is transferred when goods are delivered to the buyer.
Answer: A
41. In a sale, if the goods are destroyed, the loss falls

on________________
A. The buyer.
B. The seller.
C. Partly on the buyer and partly on the seller.
D. The seller if price has not been paid.
Answer: A
42. The term property as used in the Sale of Goods Act,

1930 means_____________
A. Possession.
B. Ownership.
C. Ownership and possession both.
D. the subject matter of contract of sale.
Answer: B
43. If a price is not determined by the parties in a contract

of sale, the buyer is bound to pay________________
A. The price demanded by the seller.
B. A reasonable price.
C. The price which the buyer thinks is reasonable.
D. The price to be determined by a third independent person.
Answer: B
44. The doctrine of caveat emptor

applies______________
A. In case of implied conditions and warranties
B. When the buyer does not intimate the purpose to the seller and
depends upon his own skill and judgment.
C. When goods are sold by sample.
D. When goods are sold by description.
Answer: A
45. If a sale is by sample as well as by description, the

implied condition is that the goods shall correspond
with_______________
A. Sample.
B. Description.
C. Both sample and description.
D. Either sample or description.
Answer: C
46. In a sale, there is an implied condition on the part of

the seller that he______________
A. Has a right to sell the goods.
B. Is in possession of the goods.
C. Will have the right to sell.
D. Will acquire the goods.
Answer: A
47. A condition is a stipulation which is__________
A. Essential to the main purpose of contract of sale.
B. Not essential to the main purpose of contract of sale.
C. Collateral to the main purpose of contract of sale.
D. Not mandatory.
Answer: A
48. In case of breach of a warranty, the buyer

can__________
A. Cannot return the goods.
B. Repudiate the contract.
C. Return the goods.
D. Refuse to pay the price.
Answer: B
49. Insurance act was established_____________
A. 1938
B. 1939
C. 1940
D. 1941
Answer: A
50. Life insurance act was established ___________

A. 1956
B. 1957
C. 1958
D. 1940
Answer: A
51. The main objective of a contract of sale is

_____________
A. Transfer of possession of goods.
B. Transfer of property in goods.
C. Delivery of goods.
D. Payment of price.
Answer: B
52. Risk follows ownership__________
A. Only when goods have been delivered.
B. Only when price has been paid.
C. Whether delivery has been made or not.
D. Even when price has not been paid.
Answer: A
53. In an agreement to sell, the seller gets for price

if________
A. The goods have been delivered to the buyer.
B. The goods have not been delivered to the buyer.
C. There is specific agreement.
D. It is not a specific agreement.
Answer: C
54. In a contract of sale, unless goods are ascertained,

there is______________
A. A sale.
B. An agreement to sell.
C. A void agreement.
D. An unenforceable agreement.
Answer: B
55. Where there is an unconditional contract for the sale

of specific goods in a deliverable state, the property in the
goods passes to the buyer when_______________
A. The goods are delivered to the buyer.
B. The price is paid by the buyer.
C. The contract is made.

D. The buyer accepts the good.
Answer: C
56. If the contract is silent as to the party who is to

appropriate the goods__________
A. The buyer is to appropriate
B. Goods seller is to be appropriate.
C. The party who under the contract is first to act is to appropriate.
D. Any party may appropriate.
Answer: C
57. In a C.I.F., contract the property in goods passes from

the seller to the buyer when the______________
A. Goods are shipped
B. Goods are received by the buyer
C. Contract is entered into.
D. Price is paid.
Answer: A
58. There is a constructive delivery of

goods_____________
A. a. When the seller hands over to the buyer the key of the
warehouse where the goods are lying.
B. a. Where a third person in possession of the goods acknowledged

to the buyer that he holds them on his behalf
C. When the seller physically delivers the goods to the buyers.
D. When the seller asks the buyer to take delivery of the goods.
Answer: B
59. The contractual capacity of a company is regulated

by_____________.
A. its memorandum of association and the provision of the

companies act, 1956.
B. the terms of contract entered into with a third party.
C. its article of association.
D. its prospectus.
Answer: A
60. A seller delivers goods in excess of the quantity

ordered for. The buyer may_________
A. Accept the whole
B. Rejects the whole.
C. Accept the goods ordered for and return the excess.
D. Accept the part of goods.
Answer: A
61. The sale of goods act was enacted during
A. 1930.
B. 1931.
C. c1932.
D. 1933
Answer: A
62. A contract of sale may be __________.
A. absolute only.
B. condition only.
C. absolute and conditional.
D. indemnity.
Answer: C
63. The term goods exclude_________.
A. stock and shares.
B. growing crops.
C. actionable claim.
D. services.
Answer: C
64. Which of the following is not an implied condition in a

contract of sale _________.
A. Condition as to title.
B. Condition as to description
C. Condition as to freedom from the encumbrance.
D. Condition as to a sample
Answer: C
65. Gives the buyer only a right to claim damages is

known as___________.
A. condition.
B. guarantee.
C. warranty.
D. indemnity.
Answer: C
66. In a hire purchase agreement, the hirer

____________.
A. has an option to buy the goods.
B. must but the goods.
C. must return the goods.
D. is not given the possession of the goods
Answer: A
67. A contract for the sale of furniture goods

is_____________.
A. sale.
B. agreement to sell.
C. void.
D. voidable.
Answer: B
68. The term, goods for the purpose of sale of goods act,
does not include _________.
A. money.
B. actionable claims.
C. immovable property.
D. all of these.
Answer: B
69. The sale of goods act, 1930 deals with_________.
A. movable goods only.
B. immovable goods only.
C. both movable and immovable goods
D. all goods except ornaments.
Answer: A
70. An unpaid seller has not given notice of resale to the

buyer. On the resale there is a loss____________.
A. the unpaid seller can recover it from the buyer.
B. the unpaid seller cannot recover it from the buyer
C. the buyer can recover it from an unpaid seller.
D. the buyer must compensate the unpaid seller.
Answer: B
71. If the goods are rejected by the buyer and the carrier
or the bailee continuous to be in possession of them the
transit ________.
A. is deemed to be an end.
B. is not deemed to be an end.
C. commences.
D. not yet commences.
Answer: B
72. An unpaid seller can excise the right of stoppage in

transit when the carrier holds the goods ____________.
A. as sellers agent.
B. as buyer s agent.
C. as agent of both of them.
D. in his own name.
Answer: D
73. The right of lien excised by an unpaid seller is to

___________.
A. retain possession.
B. regain possession.
C. recovery price and other charges.
D. Damages.
Answer: A
74. An unpaid seller can excises his rights of lien

___________.
A. where the goods have been sold on credit and terms of credit has
not expired
B. where the buyer has not become insolvent.
C. for the price of the goods.
D. for the price of the goods and expenses.
Answer: C
75. The lien of an unpaid seller depends on

_____________.
A. possession.
B. title.
C. ownership.
D. possession and ownership.
Answer: A
76. Where the neglected or refusal of the buyer to take

delivery of goods amounts to a repudiation of the
contract, the seller may sue for the __________.
A. price of damages.
B. price only.
C. damages only.
D. both for price and damages.
Answer: A
77. A seller delivers goods in excess of the quantity

ordered for. The buyer may_______.
A. accept the whole.
B. reject the whole.
C. accept the goods ordered for and returns.
D. accept the part of goods.
Answer: A
78. Unless otherwise agreed, where goods are sent by the

seller to the buyer by a route involving a sea transit of the
seller____
A. must inform the buyer in time to get the goods insured
B. may insure the goods.
C. must insure the goods.
D. no need to insure the goods.
Answer: A
79. When there is n specific agreement as to place, the

goods sold are to be delivered at the place__________.
A. at which they are at the time of sale.
B. of the buyer.
C. decide by the seller.
D. to be determined by the seller.

Answer: A
80. There is a constrictive delivery of goods

___________.
A. when the seller hands over to the buyer to the key of warehouse
where the goods are lying
B. where a third person in possession of the goods

acknowledgement to the buyer that he holds them on his behalf.
C. when the seller physically delivers the goods
D. possession and ownership
Answer: B
81. Where there is a contract for the sale of unascertained

goods, the property in goods___________.
A. passes when the buyer pays the price.
B. does not pass until the goods are ascertained .
C. when the contract is entered into.
D. when the buyer accepts the goods.
Answer: B
82. where there is an unconditional contract for the sale

of specific goods in a deliverable state, the property in the
goods passes to the buyer when________.
A. the goods are delivered to the buyer.
B. the price is paid by the buyer.
C. the contract is made.
D. the buyer accepts the goods.

Answer: C
83. In an agreement to sell, the seller can sue for price

if_____________.
A. the goods have been delivered to the buyer.
B. the goods have not been delivered to the buyer.
C. there is a specific agreement.
D. there is a general agreement.
Answer: C
84. Risk follows ownership ___________.
A. only when goods have been delivered .
B. only when price has been paid.
C. whether delivery has been made or not.
D. even when the price has not been paid.
Answer: C
85. How many parties are there to a Promissory note?
A. Two parties
B. one party
C. four parties
D. five parties
Answer: C
86. The main objective of a contract of sale is

______________.
A. transfer of possession of goods.
B. transfer of property in goods from seller to buyer.
C. delivery of goods.
D. Payment of price.
Answer: B
87. Public Law is divided into ________ categories?
A. three
B. four
C. two
D. none of these
Answer: B
88. In the case of breach of a warranty, the buyers can

__________.
A. repudiate the contract.
B. claim damage only.
C. refuses to pay the price.
D. refuses to take the delivery of the goods.
Answer: B
89. A condition is a stipulation which is____________.
A. essential to the main purpose of contract of sale.
B. not essential to the main purpose of the contract of sale.
C. collateral to the main purpose of contract of sale .
D. additional security.
Answer: A
90. In a sale, there is an implied condition on the part of

the seller that he __________.
A. Has right to sell the goods.
B. Is in position of the goods.
C. Will have the right to sell.
D. Has the right to sell the goods
Answer: A
91. If sale is by sample as well as by description, the

implied condition is that the goods shall correspond with
____________.
A. sample.
B. description.
C. both sample and description.
D. either sample or description.
Answer: C
92. The doctrine of caveat emptor

applies______________
A. When the buyer does not intimate the purpose to the seller and
depends upon his own skill and judgment
B. In case of implied conditions and warranties.
C. When goods are sold by sample.
D. When goods are sold by description.
Answer: B
93. If a price is not determined by the parties in a contract

of sale, the buyer is bound to pay________________
A. The price demanded by the seller
B. A reasonable price
C. The price which the buyer thinks is reasonable.
D. The price to be determined by a third independent person
Answer: B
94. The term property as used in the Sale of Goods Act,

1930 means_____________
A. Possession.
B. Ownership.
C. Ownership and possession both.
D. The subject matter of contract of sale.
Answer: B
95. In a sale, if the goods are destroyed, the loss falls

on________________
A. The buyer.
B. The seller.
C. Partly on the buyer and partly on the seller
D. The seller if price has not been paid.
Answer: A
96. In a sale, the property in

goods_____________________
A. Is transferred to the buyer.
B. Maybe transferred at a future time.
C. Is transferred when the buyer pays the price.
D. b. Is transferred when goods are delivered to the buyer.
Answer: A
97. A who purchases certain goods from B by a

misrepresentation pledges them with C. the pledge is
_________________
A. valid
B. void
C. voidable
D. invalid
Answer: B
98. A bailee fails to return the goods according to the

bailers direction. He takes reasonable care of the goods
but still the goods are lost. The loss will fall
on____________________
A. the bailee
B. the bailer
C. on both of them
D. neither of them
Answer: A
99. If the goods of the bailer get missed up with the like
goods of the bailer by the act of god, the mixture belongs
to the bailer and the bailer in proportion to their shares
but the cost of separation will have to be borne
by_____________
A. the bailee
B. the bailer
C. both of them in proportion to the value of their goods
D. Third party
Answer: A
100. The gratuitous bailer is liable to the bailer for the

defects in the goods bailed_______________
A. Even if he is not aware of them
B. Only if he is aware of them
C. In all cases of loss

D. In certain case of loss
Answer: B
101. The position of a finder of lost goods is that of a

______________
A. Bailer
B. Bailee
C. Surety
D. Principal debtors
Answer: A
102. A bailer is a _________
A. a right of a particular lien over the goods bailed
B. a right of generation
C. a right of both particular and general lien
D. no lien at all over the goods bailed
Answer: A
103. S and P go into a shop. S says to the shopkeeper, C let

P have the goods and if he does not pay you I will. This is a
__________
A. contract of guarantee
B. Contract of indemnity
C. Wagering contract
D. Quasi-contract
Answer: A
104. The contract of indemnity is a _____________
A. Contingent contract
B. Wagering contract
C. Quasi-contract
D. Void agreement
Answer: A
105. Ordinary damages are damages which

_____________
A. Arise in the usual course of things from the breach
B. Which are in the contemplation of the parties at the time when

the contract is made?
C. Are agreed in advance
D. Are given by way of punishment for breach of contract
Answer: A
106. In case of wrongful dishonour of a cherub by a

banker having sufficient fund to the credit of the
customer, the court nay award
A. Ordinary damage
B. Nominal damage
C. Exemplary damage
D. Contemptuous damages
Answer: C
107. Anticipatory breach of a contract takes place

_____________
A. During the performance of the contract
B. At the time when the performance is due
C. Before the performance is due
D. At the time when the contract is entered into
Answer: C
108. The case of Hadely Bv. Baxendale (1854) 8 Ex .Ch 341

deals with
A. Anticipatory breach of contract
B. Quantum of damages
C. Supervening impossibility
D. Quasi-contract
Answer: B
109. The measure of damages in case of breach of a

contract is the difference between the
_______________.
A. contract price and the market price at the date of breach.
B. contract price when the maximum market price during the terms
of the contract.
C. contract and the price at which the plane tiff might have sold the
goods.
D. contract price and the price fixed by the court.
Answer: A
110. Specific performance may be ordered by the court

when ______________.
A. the contract is voidable.
B. the damages are an adequate remedy.
C. the damages are not an adequate remedy.
D. the contract is uncertain.
Answer: C
111. The foundation of modern law damages was laid

down in ___________________.
A. Tinn v. Hoffman.
B. Taylor v. Caldwell.
C. Hadley v. Baxendale.
D. Addis v. Gramophone co.
Answer: C
112. The court may grant rescission were the contract is

__________.
A. voidable at the option of the plaintiff
B. void.
C. unenforceable.
D. illegal.
Answer: A
113. A undertakes to paint a picture of B. he die before he

paints the picture. The contract ________.
A. is discharged by death
B. becomes voidable at the options of b.
C. becomes of voidable at the options of legal representatives of a.

D. will have to performed by legal representatives of A.
Answer: A
114. The case of Satyabrata Ghose V. Mugneeram Bangur

and co., (195d. SC 44) deals with__________
A. agreement opposed to public policy.
B. supervening impossibility.
C. contract of guarantee.
D. agencies.
Answer: A
115. A creditor agrees with his debtors and a third party to

accept that the third as his third patty as debtor the
contract is discharged by ________________.
A. alteration.
B. waiver.
C. rescission.
D. performance.
Answer: B
116. Were a contact could not be performed because of

the default by a third party on whose work the promiser
relied, it ______________.
A. it is not discharged.
B. is discharged.
C. becomes void.
Answer: A
117. A contract has become more difficult of performance

due to some uncontemplated events or delays. The
contract______________.
A. is discharged.
B. is not discharged.
C. becomes void.
Answer: B
118. A lends Rs 500 to B. he later tells B that he need not

repay the amount, the contract is discharged by
__________.
A. breach
B. waiver.
C. notation.
D. performance.
Answer: B
119. The case of Taylor V. Coldwell, (188c. 3 B & S. 8b.6)

deals with.
A. Discharge of contract by destruction of subject matter.
B. Anticipatory breach of contract
C. Discharge of contract by death of a party
D. Breach of contract.
Answer: A
120. If a new contract is substituted in place of an existing

contract, it is called________.
A. alteration.
B. rescission.
C. novation.
D. waiver.
Answer: C
121. An agreement to do an act impossible in

itself_________.
A. is void.
B. is voidable.
C. is void ab initial.
D. becomes void when impossibility is discovered
Answer: A
122. If a contract contains an undertaking to perform

impossibility, the contract is __________.
A. void ab initio.
B. void.
C. voidable at the option of the plaintiff
D. illegal.
Answer: A
123. Owing to a strike in the factory of A, he is not able to

supply the goods to B as per the terms of the agreement.
The agreement in such a case
A. discharged.
B. is not discharged.
C. becomes void.
D. is voidable
Answer: A
124. A who ooze 10,000 to B dies living and estate of Rs

6,000. The legal representatives of A are
_______________.
A. liable for rs 10,000.
B. liable for rs 6,000.
C. no liable at all.
D. liable for Rs 3,000.
Answer: B
125. Assignment by operation of law takes

place_______________.
A. by the mutual consent of the parties.
B. by the will of either party.
C. when the subject matter of a contract cases to exist.
D. by the death of a party to a contract.
Answer: D
126. When two or more persons have made a joint

promise, then unless a contrary intention appears from
the contract all such person must fulfil the

promise__________.
A. jointly.
B. severally.
C. jointly and severally.
D. jointly or severally.
Answer: A
127. Where the deports does not expressly intimate or

were the circumstances attending on the payment do not
indicate any intention, the creditor __________.
A. may apply it top any lawful debt due.
B. may apply it even to a time-barred debt.
C. it is not apply it even to a time-barred debt.

D. no loss.
Answer: A
128. When a party to a contract transfers his contractual

rights to another, it is known as_________.
A. rescission of contract.
B. waiver of contract.
C. discharge of contract
D. assignment of contract
Answer: D
129. Sale of goods for cash is an example of__________.
A. mutual and independent promises.
B. mutual and dependent promises.
C. mutual and contract promises.
D. conditional and dependent promises.
Answer: C
130. When the promisee refuses to accept performance

from the promiser who offers to perform, it is
__________.
A. attempted performance
B. vicarious performance.
C. tender.
D. frustration of contract.
Answer: A
131. Each party is a promisor and a promise in case of
A. Past consideration.
B. Present consideration
C. Every contract.
D. Reciprocal promises.
Answer: D
132. Promises forming consideration for each other are

known as
A. Independent promises.
B. Dependent promises.
C. Reciprocal promises.
D. Mutual promises.
Answer: C
133. The case of Nordenfelt V. Maxim Nordenfelt Gun Co.,

(190d.b.9 B.L.R 107 deals with.
A. Agreements in restraint of legal proceedings.
B. Minors agreement.
C. Agreements in restraint of trade.
D. Agreements in restraint of marriage.
Answer: C
134. An employee, by the terms of his service agreement,

is prevented from accepting a similar engagement after
the termination of service. The restraint is __________.
A. valid.
B. void.
C. illegal.
D. unenforceable.
Answer: B
135. Regulation as to the opening and closeting of

business in a market are
A. Not unlawful even if they are in restraint of trade.
B. Unlawful because they are restraint of trade.
C. Void.
D. Not valid.
Answer: A
136. Where both the parties to an agreement are under a

mistake as a matter of fact essential to the agreement, the
agreement is
A. void.
B. voidable.
C. illegal.
D. not affected at all.
Answer: A
137. Where consent is caused by fraud or

misrepresentation, the contract is _____________.
A. voidable at the option of the aggrieved party.
B. void.
C. unenforceable.
D. not affected in any manner.
Answer: A
138. Flaw of capacity to contract may arise from

_____________.
A. want of consideration.
B. unsoundness of mind.
C. illegality of object.
D. uncertainty of object.
Answer: B
139. Where there is no specific agreement as to place, the

goods sold are to be delivered at the
place______________
A. At which they are at the time of sale.
B. To be determined by the seller
C. Desired by the buyer.
D. Of the buyer.
Answer: A
140. Contracts made before war with an alien enemy

which are against public policy are _____________.
A. suspended and are revived after the war is over.
B. dissolved.
C. not affected at all.
D. void ab initio.
Answer: B
141. A contract by an idiot is_____________.
A. voidable.
B. enforceable.
C. invalid.
D. void ab initio.
Answer: D
142. A person is usually of unsound mind, but

occasionally of sound mind_____________.
A. he may enter into a contract when he is of sound mind.
B. he may not make a contract when even when he is of sound

mind.
C. he cannot enter into a contract at all.
D. he can enter all the time.
Answer: A
143. A minor enters into a contract for the purchase of

certain necessaries. In such a case_____________.
A. he is not personally liable to pay.
B. he is liable to pay.
C. his estate is liable to pay.
D. his guardian is liable to pay.
Answer: C
144. A minor, by misrepresenting his age, borrows some

money_____________.
A. he can be sued for fraud.
B. he cannot be sued for fraud.
C. he is liable to return the money.
D. he is not liable to return the money.
Answer: B
145. On attaining the age of majority a minors agreement

_____________.
A. can be ratified by him.
B. cannot be ratified by him.
C. becomes void.
D. becomes valid.
Answer: B
146. An agreement with or by a minor is

_____________.
A. void.
B. voidable at the option of the minor.
C. voidable at the option of the other party.
D. valid.
Answer: A
147. A promise to subscribe to a charity. The promise is a

_____________.
A. voidable contract.
B. void agreement.
C. void contract.
D. valid contract.
Answer: C
148. An agreement made with out consideration is

_____________.
A. valid.
B. illegal.
C. voidable.
D. void.
Answer: D
149. Consideration in a contract _____________.
A. may be past, present, or future.
B. may be present or future only.

C. must be present only.
D. must be future only.
Answer: A
150. A person who is not a party to contract

_____________.
A. cannot sue.
B. can sue.
C. can sue only in well- recognized cases.
D. can sue under contract of guarantee.
Answer: C
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1/10/22, 1:46 PM 300+ TOP Business Law MCQs and Answers Quiz Test 2022 [Latest]

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300+ TOP Business Law MCQs

and Answers Quiz Test

2. A breach of contract can be of ___________ breach

3. How many parties are there to a Promissory note?

(1) Two parties

(2) One party

(3) Four party

(4) Three parties

4. A minor can be an _____________?

5. Public Law is divided into ________ categories?

6. An agreement that is caused by fraud,

We'll try Ads

7. The person which is represented as an agent ______?

8. Public law includes _______law?

9. Contingent goods belongs to _______ goods?

10. Is voidable contract?

1) Partly valid agreement

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11. Consumer Protection Act is applicable to

C. specific goods and services

D. all goods and services

12. The total number of rights given to consumers as per

13. “Consumer has the right to present before the

14. The rights of consumers as per the consumer

15. When the seller manipulates the price then it is

A. Restrictive trade practices

B. unfair trade practices

D. none of the above

16. Fraud exists when it is shown that a false

D. recklessly, not caring whether true or false.

We'll try Ads

17. Which of the relationships raise presumption of

A. landlord and tenant

B. parents and child.

C. doctor and patient.

D. husband and wife.

18. If there is error in causal, the contract is

19. The collateral transaction to an illegal agreement

D. not affected at all.

20. An agreement made with an alien enemy is

A. unlawful on the ground of public policy.

B. unlawful because it becomes difficult to be performed.

21. In which year IRDA Act passed in __________

22. When the promisee refuses to accept performance

We'll try Ads

23. When a party to a contract transfers his contractual

24. Assignment by operation of law takes

A. . by the mutual consent of the parties.

B. by the will of either party.

C. when the subject matter of a contract cases to exist.

D. by the death of a party to a contract.

25. A who ooze 10,000 to B dies living and estate of Rs

A. liable for rs 10,000

B. liable for rs 6,000.

D. liable for Rs 3,000.

26. If a contract contains an undertaking to perform