Business Law MCQ Multiple Choice Questions Answers - Page 2 for Practice
31. Minimum number of directors in case of a Public Company is
Correct Answer is: 3
32. Minimum number of members in case of Public Company?
Correct Answer is: 7
33. Negotiable Instrument is always given in lieu of valuable
Correct Answer is: Consideration
34. Partnership firm is separate legal entity from its partners. True or False.
Correct Answer is: False Statement
35. Person Named in the instrument to whom money is directed to be paid is known as
Correct Answer is: Payee
36. Private Companies raises its funds (Capital) through issue of prospectus by inviting public for Subscription. True or False
Correct Answer is: FALSE
37. Registered office of the company should be verified and such verification should be sent to registrar within.......Days of incorporation.
Correct Answer is: 30 days
38. Revocation of guarantee can be done by
Correct Answer is: All of the above
39. Surety for his possible loss can make..........for total debt or its part.
Correct Answer is: Contract of Indemnity
40. The Central Council shall convene at least...........meeting every year.
Correct Answer is: Two
41. The Complaint be in consumer within..............of cause occurred.
Correct Answer is: 2 year
42. The outsider or the 3rd party dealing with the company shall have knowledge of the MOA and AOA of the Company but they need not have knowledge process of Company, is called as
Correct Answer is: Doctrine of Ultra Virus
43. The person whose loss is bear by promiser is known as
Correct Answer is: Indemnifier
44. The property in a negotiable instrument passes to a..........transferee for value.
Correct Answer is: Bona fide
45. The right to retain the goods, till the demands are unsatisfied is called
Correct Answer is: Lien
46. The rights of consumer as per consumer protection act does not included the right to be
Correct Answer is: Presented
47. The total managerial remuneration to the directors and the manager in respect of any financial year must not exceed..........percent of the net profit.
Correct Answer is: 11%
48. Under contract of bailment, mixing of goods made without the Consent of bailor which are not Separable then the Bailee Shall
Correct Answer is: Compensate all the damages
49. Under Contract of Guarantee, because of which reason Surety is discharged from his liability?
Correct Answer is: Change in terms of contract
50. Under the consumer protection act which is not included in the Term of“Goods”?
Correct Answer is: Currency Note
51. Under the contract of guarantee, can the surety file a suit against the principal debtor?
Correct Answer is: True Statement
52. Under the Contract of Indemnity, the given Promise is for Protection for loss caused by
Correct Answer is: Both
53. Up to how much maximum amount of redressal is done by state level commission?
Correct Answer is: Rs. 1 crore
54. Validity period for the presentation of cheque in bank is
Correct Answer is: 3 Months
55. What is a maximum age limit of a person who can be a member in national commission is
Correct Answer is: 70 Year
56. What is known as a charter of a company?
Correct Answer is: Memorandum of Association
57. When goods are physically handed over to the bailee by the bailor is known as
Correct Answer is: Actual Delivery
58. When the day on which a promissory note or bill of exchange Is at maturity is a public holiday, the instrument shall be deemed to be due on the
Correct Answer is: Next Preceding Business Day
59. When the Negotiable Instrument Act enacted in India?
Correct Answer is: 1881
60. Where no rate of interest is specified in the bills of exchange or promissory notes then what is the interest rate used for calculating the interest amount?
