Business Law MCQ Multiple Choice Questions - Page 2 for Practice
Business Law MCQ Questions for Practice
16. How many contracts can be formed under the contract of indemnity?
Correct Answer is: One
17. How many days of grace are allowed where a note or bill, which Is not expressed to be payable on demand, at sight or on presentment?
Correct Answer is: 3 days
18. How many members exist in the district level forum?
Correct Answer is: Three
19. How many parties Should be in the case of bill of exchange?
Correct Answer is: Three
20. How Many Rights are avail to consumers under consumer ProtectionAct?
Correct Answer is: Six
21. If principal debtor is adjudged insolvent as per law, the surety...........be discharged from its liability.
Correct Answer is: Will not
22. If Surety remains silent after informing him about the changes in the terms of contract of guarantee is said
Correct Answer is: Not to be Consent
23. If the Loss occurs because of an accident and not in the manner stated in the contract, Compensation must be paid by Indemnifier. The Given Statement is
Correct Answer is: False Statement
24. In a contract of guarantee there are...........parties.
Correct Answer is: Three
25. In case of Bailment, Delivery of Goods will be done...............Purpose.
Correct Answer is: Temporary
26. In case of contract of indemnity, the liability of promiser is of.............Nature.
Correct Answer is: Primary
27. In contract of guarantee, the liability of surety will arise
Correct Answer is: When principal debtor defaults the payment
28. In which of the following circumstances surety will be discharged from his responsibility?
Correct Answer is: All of the Above.
29. Maximum number of members in case of Private Company?
Correct Answer is: 200
30. Memorandum of Association regulates the relationship with which parties?
