Legal Aspects of Business

Sr.No Questions Option (A) Option (B) Option (C) Option (D) Correct Option
Which of the following is not an element of external Geographical Social and cultural
1 Technological factors Suppliers Suppliers
environment? characteristics determinants
Which of the following is not a valid mode of the discharge Discharge by Discharge by Discharge by lapse of Discharge by
2 Discharge by rescission
of a contract? performance impossibility time rescission
In which Section of the Sale of Goods Act are different
3 Section 2 Section 45 Section 9 Section 10 Section 9
modes of ascertaining the price contained?
Who selects the members of the mediation cell of the President of
4 Vice President of India President of India Prime Minister of India President of Commission
National Commission? Commission
Bharat Heavy Electricals Ltd. (BHEL) is which type of a Public Limited Private Limited
5 Chartered Company Statutory Company Public Limited Company
company? Choose the correct option: Company Company
What is the fee to obtain information under the RTI Act,
6 ` 30 ` 40 ` 70 ` 10 ` 10
2005 ?
Which one of the following is not required for obtaining
7 Application Time limit Fee Monitoring Monitoring
information under the RTI Act, 2005?
Which of the following authorities is proposed to be
8 DPAI CCA DPO CA DPAI
established under the PDP Bill, 2019?
Which one of the following is the right explanation of the
9 model that provides information and services by the G2B G2C G2E G2G G2E
government organisation to its employees?
Which of the following is not a natural factor that affects the
10 activities of an organisation? Natural resources Weather Pollution Unemployment Unemployment

When the exchange of information takes place between

11 G2C G2G G2E G2B G2G
government bodies it is called:
In Partnership Act, 1932, which of the following sections
12 Section 4 Section 69 Section 7 Section 2 Section 4
defines partnership?
Political and legislative Development in Weakness of the
13 Which of the following is not an environmental threat? Environmental effects Weakness of the competitor
changes information technology competitor
Establish a framework To allow growth of big
To allow growth of big and
Orderly conduct of of judicial and quasi- and powerful To protect interests of
14 Which of the following is not an objective of business laws? powerful corporates with
business judicial authorities corporates with consumers
economic power
related to regulations economic power

An agreement which A legally enforceable A legally enforceable

An agreement may or An agreement which
Which of the following statements is not true with regard to is not legally agreement cannot agreement cannot
15 may not be legally is legally enforceable
agreements and contracts? enforceable is a void become a voidable become a voidable
enforceable. by law is a contract.
agreement. agreement. agreement.
Which one of the following sections refers to “Agreement by
16 Section 20 Section 56(1) Section 31 Section 30 Section 30
way of betting (Wager)”?
An acceptance should
An acceptance should
only be made in A valid contract
only be made in absolute
absolute and Consideration should Considerations always always implies
17 Which of the following statements is true? and unconditional terms in
unconditional terms in be balanced and just benefit both parties. consideration in form
order to make a valid
order to make a valid of money.
contract.
contract.
A party rescinding or
Terms or clauses of A position of A party rescinding or
renouncing his Circumstances when
Which of the following the term referes to anticipatory the contract with impossibility for a renouncing his obligations
18 obligations before the both parties agree to
breach ? regard to anticipated party to perform his before the date of
date of cancel the contract
breach obligations actual performance
actual performance
All of the mentioned
All of the mentioned are
On a breach of contract, which of the following is not are possible options
19 Suit for damages Suit for rescission Suite for specific relief possible options
available for the affected party? depending on the
depending on the breach.
breach.
Which of the following option is applicable for the Consentto major person of sound mistake as to matter major person of sound
20 coercion misrepresentation
be free? mind of fact mind
In which of the following cases does an agency not Completion of agency Death of principal or Agent exceeding Agent exceeding given
21 Insolvency of principal
terminate? business agent given authority authority
Which of the following prevents the employee from doing
any job or business that will put him or her in competition Duration of Clause for non Clause for non
22 Schedule Confidentiality
with the company after the termination of the contract with employement competition competition
the company?
Which of the following is not an essential feature of an Competence of the Representative
23 Agreement Good faith Competence of the agent
agency? agent capacity
Which of the following is not a legal right of the finder of Right to personal use Right to personal use of
24 Right of lien Right to sue for reward Right of sale
goods? of goods goods

Contract of Indemnity Contract of Indemnity Contract of Indemnity Contract of Indemnity Contract of Indemnity – 2
Which of the following options is not a proper matching – 2 parties; – 3 parties; – 3 parties; – 2 parties; parties;
25
one? Contract of Contract of Contract of Contract of Contract of Guarantee –
Guarantee – 3 parties Guarantee – 2 parties Guarantee – 3 parties Guarantee – 2 parties 3 parties