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M.S Kakade College, Someshwarnagar, Tal Baramati Dist. Pune 412306, Subject — Business Regulatory Framework I (M. Law), Practice Question for Internal Exam, , Year 2021-22, , , , 1) The Indian Contract Act came into force on......, (a) 15th September, 1872 (b) 1st September, 1872, (c) 1st October, 1872 (d) 15th October, 1872., 2)The Indian Contract Act, applies to the:, (a)Whole of India excluding Jammu & Kashmir, (b) Whole of India including Jammu & Kashmir, (c) States notified by the Central Government from time to time, (d) None of the above., 3) An agreement consists of reciprocal promises between at least, (a) four parties (b) six parties (c) three partie (d) two parties, , 4)Every promise and every set of promise forming the consideration for each, , other is a/an, (a) contract (b) agreement (c) offer (d) acceptance, , 5) Contract is defined as an agreement enforceable by law, vide Section ... of, the Indian Contract Act., , (a) Section 2 (e) (b) Section 2(f) (c) Section 2(h) (d) Section 2(i), 6) A Valid contracts..., (a) are made by free consent (b) are made by competent parties, , (c) have lawful consideration and lawful object (d) all of the above
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7) A contract creates ..........., (a) rights and obligations of the parties to it., (b) obligations of the parties to it., (c) mutual understanding between the parties to it., (d) mutual lawful rights and obligations of the parties to it., , 8) In agreements of a purely domestic nature, the intention of the parties to, create legal relationship is, , (a) to be proved to the satisfaction of the court., (b) presumed to exist., , (c) required to the extent of consideration., , (d) not relevant at all, , 9) Leeceeeeeneeeeeenee is forbidden by law., , (a) Valid contract (b) Illegal agreement, (c) Voidable contract (d) Unenforceable contract, 10) A makes a contract with B to beat his business competitor. This is an, example of, (a) valid contract. (b) illegal agreement., (c) voidable contract. (d) unenforceable contract., , 11)Which of the following legal statement is incorrect?, , (a) An agreement enforceable by law is a contract [Section 2], , (b) All agreements are contracts [Section 10], , (c) A proposal when accepted becomes a promise [Section 2], , (d) Every promise and every set of promise forming the consideration, for each other is an agreement [Section 2(e)], , 12) Lees is made by words written., , (a) Express contract (b) Implied contract, (c) Tacit contract (d) Unlawful contract, , 13) Agreement the meaning of which is uncertain is...........
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(a) Void (b) Valid (c) Voidable (d) Illegal Answer:, , 14) Which of the following relationship raise presumption of positive, influence?, , (a) Parent and Child (b) Religious/ Spiritual Guru and disciple, (c) Guardian and Ward (d) All of the above, , 15) Which of the following is false with respect to minor entering a contract?, , (a) An agreement with or by a minor is void ab initio, (b) A minor can be a beneficiary of a contract, (c) The contracts involving a minor as a beneficiary may be enforced at, the option of the third party, (d) A minor cannot ratify a contract on attaining majority, , 16) Drawing cash from ATM, sale by fall of hammer at an auction sale, etc.,, are example of, , (a) express contract., , (b) implied contract., , (c) tacit contract., , (d) unlawful contract., , 17): aaeeameareren is a one-sided contract in which only one party has to, perform his promise or obligation., , (a) Void contract (b) Illegal agreement, (c) Unilateral contract (d) Bilateral contract, , 18) All Contract is a/an ............. 00, (a) Offer (b) Agreement (c) Acceptance (d) Transaction, , 19) A/an oo... is every Promise and every set of promises, forming, consideration for each other, , (a) Offer (b) Agreement (c) Acceptance (d) Transaction, 20) Every agreement and promise enforceable by law is ................, , (a) Offer (b) Contract (c) Acceptance (d) Consideration
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21) “A Contract is an agreement creating and defining obligations between the, parties” the definition was put forwarded by, , (a) Dr. Ambedkar (b) Pollock (c)Salmonds (d) N.D.Kapoor, 22) To form a valid contract, there should be atleast ............., , (a) Two parties (b) Three parties (c) Four parties (d) Five parties., , 23) Agreement is defined by the section ............... of the Indian Contract Act,, 1872., , (a) Section 2(c) (b) Section 2(e) (c) Section 2(g) (d) Section 2(i), 24) This section was enacted in the Indian Partnership Act, 1932., (a) 79 (b)69 (c)89 (d)59, , 25) A minimum of ......... person is required to establish a partnership, organization., , (a1 (2 (5 (7, 26) A minor cannot be a partner under section., (a) Twenty (b) Twenty five (c) Thirty (d) Forty, 27) A person should be eligible ........... to be a partner., , (a) Contract person (b) Adult, (c) Knowledgeable person (d) All of the above, , 28) This is a very important feature of a partner., , (a) Individual group —_(b) Profit division, (c) Establishment of partnership organization (d) Illegal business, , 29) Duty of partnership ..........., , (a) Acting in mutual trust (b) Putting public interest first, (c) True accounting (d) All of the above, , 30) As per section 18, every partnership in the business partnership of the, organization belongs to the organization all the other partners ....
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(a) Representative (b) Member (c) Officer (d) Servant, , 31) When a partner retires from the organization, he should declare his, retirement., , (a) Complaint (b) Identity (c) Notice (d) Dividend, 32) If a partner has gone bankrupt, the court expert will declare him bankrupt., (a) Inthe paper (b) Onthe TV (c) In the Gazette (d) 7 Advertisement, 33) Dissolution is done by giving instructions as per section ............, (a)43 (b) 42 (c) 41 (d) 48, , 34) After the dissolution of the organization or before the dissolution, all the, partners can enter into an agreement ............., , (a) Transactions (b)Law (c) Binding (d) All of the above, 35) The Limited Liability Partnership Act is .........., (a) 2008 (b) 2013 (c)2009 (d) 1956, , 36) For the reserved name of LLP partnership organization, one has to apply in, Form No. .........06+, , (a1 (b)2 ()3 (d4, 37) A private company may apply for conversion to LED as per Appendix 3, (3 (b)2 ©5 WE, 38) LLP termination and immersion were as per clause ............, , (a)78&79 (b)63&64 (c)61&62 (d)65& 66, , 39) A private company can file an application with the Registration Officer for, conversion to LLP., , (a) Section 3 (b) Section12 (c) Section 10 d) Section 11, , 40) Vacancies of special partners with limited liability partnership should be, filled up within ........... days.
