Mercantile Laws Test - 16
| Description: Mercantile Laws Test - 16 | |
| Number of Questions: 39 | |
| Created by: Rachana Sahu | |
| Tags: Mercantile Laws Test - 16 Mercantile Laws |
Generally, the ___________ are not recoverable.
Contracts may be classified on the basis of their validity, formation or performance. Contracts classified on the basis of formation are
On the valid performance of the contractual obligation by the parties, the contract
A contract is discharged by 'novation', which means
An offer may lapse by
In case of illegal agreements, the collateral agreements are
Which of the following statements is false?
Which of the following is false? An acceptance
A contract for sale of goods, where property would pass to the buyer on payment of total price, would be a/an
The Sale of Goods Act, 1930 deals with the
Which of the following statements is not true about a minor's position in a firm?
Selection of goods with the intention of using them in performance of the contract and with the mutual consent of the seller and the buyer is known as
On which of the following grounds can a partner apply to the court for dissolution of the firm?
Which of the following is not a disability of an unregistered firm?
Which of the following is not the right of a partner?
A mercantile agent has the authority to
Under the Sale of Goods Act, 1930 the term 'goods' means every kind of the movable property and it includes
A Hindu widow borrowed money from a lender for the purpose of filling a suit for maintenance. The lender advanced money at 100 percent rate of interest. The act of the money lender is induced by
A mistake as to a law not in force in India has the same effect as
Every person attains majority on completion of _____ years of age
Which of the following is/are correct?
The communication of an acceptance is complete as against acceptor,
Which of the following is not a form of delivery?
'Doctrine of Caveat Emptor' means
The essence of right of lien is to
Where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is
Discharge by mutual agreement may involve
________ consideration is no consideration in England.
The relationship of principal and agent may arise by
A contract for the sale of future goods is a/an
Right of an unpaid seller includes
A stipulation in a contract of sale of goods, whose violation by seller gives a right of rescission to buyer, is called
Total substitution of new contract in place of the old contract takes place in case of
A partner may be expelled from the firm on the fulfillment of the condition that the expulsion power is exercised
Right of lien is to
Partner by holding out is also known as
Non-registration of a partnership firm
Under which circumstance(s) can the unpaid seller exercise right of re-sale?
A timber merchant agreed to supply best teak at a certain agreed price to a builder. Later, the merchant supplied timber, which was identified as ordinary class of timber and demanded the payment from the builder. Which of the following statements is/are true?