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Assignment for GM06

Question 1:- A promise in return for a promise is known as

a) Quantum mervit

b) reciprocal promise

c) ordinary damages

d) Assignment of contract

Question 2:- He is a person who is appointed by an agent to work in the matter of

agency, and therefore can bind the principal by his acts

a) Agent

b) sub-agent

c) principal

d) concealed principal

Question 3:- He is a person who is employed to do any act for another or to

represent another in dealings with third person.

a) Agent

b) sub-agent
c) principal

d) concealed principal

Question 4:- It is a guarantee which is intended to be applicable to a particular debt

and comes to an end on its repayment

a) specific guarantee

b) continuing guarantee

c) contract of indemnity

d) rights of surety

Question 5:- It is a rule of a law expressly or impliedly treated by a judge as a

necessary step in reaching his decision

a) Obiter Dicta

b) Ratio Decedent

c) person

d) property

Question 6:- It is a rule of law which has been settled by a series of decisions
generally is binding on the courts and is followed in similar cases in the future

a) criminal law

b) civil law

c) custom

d) precedent
Question 7:- It is right of one person to retain that which is in his possession ,
belonging to another, until some debt or claim is settled.

a) Bailment

b) Lien

c) Pledge

d) pledgee

Question 8:- It is that branch of the law which characterises certain kinds of wrong
doings as offences against the state

a) criminal law

b) civil law

c) custom

d) precedent

Question 9:- It is that branch of the law which deals with the rights and duties of
persons towards each other.

a) criminal law

b) civil law

c) custom

d) precedent

Question 10:- It is that contract the terms of which are expressly agreed upon
(whether by words spoken or written) at the time of its formation

a) Express contract
b) implied contract

c) voidable contract

d) quasi contract

Question 11:- It is that contract which is inferred from the acts or conduct of the
parties or the course of dealing between them .

a) Express contract

b) implied contract

c) voidable contract

d) quasi contract

Question 12:- It is that contract which may be repudiated at the will of one or more of
the parties but not by others

a) Express contract

b) implied contract

c) voidable contract

d) quasi contract

Question 13:- It is that situation in which law imposes upon one person on grounds
of natural justice

a) Express contract

b) implied contract

c) voidable contract

d) quasi contract
Question 14:- It is the bailment of goods as security for payment of a debt or
performance of promise

a) Bailment

b) Lien

c) Pledge

d) pledgee

Question 15:- It is the delivery of goods by one person to another for some purpose ,
upon a contract that they shall , when the purpose is accomplished , be returned or
otherwise disposed off according to the directions of the person delivering them.

a) Bailment

b) Lien

c) Pledge

d) pledgee

Question 16:- These damages are those which naturally arise in the usual course of
things from such breach

a) Quantum mervit

b) reciprocal promise

c) ordinary damages

d) Assign the contract

Question 17:- This phrase means "as much as earned"

a) Quantum mervit
b) reciprocal promise

c) ordinary damages

d) Assign the contract

Question 18:- When a particular course of conduct is followed again and again it
becomes_________

a) criminal law

b) civil law

c) custom

d) precedent

Question 19:- When a party to a contract transfers his right , title and interest in the
contract to another person , he is said to ________________

a) Quantum mervit

b) reciprocal promise

c) ordinary damages

d) Assign the contract

Question 20:- When at the desire of the promisor the promisee or any other person
has done or abstained from doing or promises to do , something , such promise is
called _______ for the promise

a) consideration

b) undue influence

c) general offer

d) coercion
Question 21:- It is an instrument or a deed by which a person is empowered to act
for and in the name of the person executing it.

a) Power of Attorney

b) agent

c) principal

d) sub-agent

Question 22:- It is a stipulation essential to the main purpose of the contract the
breach of which gives rise to treat the contract as repudiated

a) condition

b) goods

c) warranty

d) unpaid seller

Question 23:- It is a stipulation collateral to the main purpose of the contract , the
breach of which gives rise to a right to treat the contract as repudiated

a) condition

b) goods

c) warranty

d) unpaid seller

Question 24:- It means any written document by which a right is created in favour of
some person

a) instrument
b) ambiguous instrument

c) holder

d) negotiation

Question 25:- It is an instrument which may be construed either as a promissory note

or as a bill of exchange

a) instrument

b) ambiguous instrument

c) holder

d) negotiation

Question 26:- When a company has control over another company it is known as
____________

a) private company

b) public company

c) subsidiary company

d) Holding company

Question 27:- The company over which the control is exercised is known as
_____________

a) private company

b) public company

c) subsidiary company

d) Holding company
Question 28:- A member may hold the entire share capital of a company , such a
company is known as_______

a) private company

b) one man company

c) subsidiary company

d) Holding company

Question 29:- __________ is a company incorporated in a country outside India and

has a place of business in India

a) Foreign company

b) one man company

c) subsidiary company

d) Holding company

Question 30:- When a company has been registered and has received its certificate
of incorporation , it is ready for ____________

a) commencement of business

b) floatation

c) promotion

d) provisional contracts
Question 31:- The company's activities are confined strictly to the objects mentioned
in its memorandum and if they are beyond these object , then such acts are known
as ______________

a) ultra vires

b) void transaction

c) illegal

d) doctrine of indoor mgmt.

Question 32:- This doctrine enunciates that any person dealing with the company is
presumed to have read its memorandum and articles

a) doctrine of constructive notice

b) void transaction

c) illegal

d) doctrine of indoor mgmt.

Question 33:- This doctrine enunciates that any person dealing with the company is
assume that the provisions of the article have been observed by the company

a) doctrine of constructive notice

b) void transaction

c) illegal

d) doctrine of indoor mgmt.

Question 34:- It consists of an_________ by a person that if the public fails to take
up an issue he will do so
a) share

b) preference share

c) underwriting

d) prospectus

Question 35:- A ___________ is a negotiable instrument which entitles the bearer to

the shares specified in it and he can transfer the ownership of shares by merely
delivering to the transfree

a) share warrants

b) share certificate

c) share Allotment

d) share price

Question 36:- It means removing the name of a member from the registrar of
members after following the prescribed procedure as given in the articles and the act
.

a) lien on shares

b) forfeiture of shares

c) surrender of shares

d) transfer of shares

Question 37:- It is an equitable charge on shares to secure any debt which be due
from the member of the company

a) lien on shares

b) forfeiture of shares
c) surrender of shares

d) transfer of shares

Question 38:- It means voluntary return of shares by a shareholder to the company

for their cancellation

a) lien on shares

b) forfeiture of shares

c) surrender of shares

d) transfer of shares

Question 39:- It is a charge not on any specific assets of the company but is a
charge on assets present and future of the company

a) floating charge

b) fixed charge

Question 40:- It is that debenture which includes an option to the debenture holder to
convert it into equity or preference share at a stated rate of exchange after a certain
period

a) debenture

b) convertible debenture