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Q1: An agreement not enforceable by law is said to be void
Q2: An agreement enforceable by law is contract
Q3: The communication of a proposal is complete when it comes to the knowledge of the person to whom it is made
Q4: In order to convert proposal into a promise the acceptance must be conditional and qualified
Q5: All agreements are contracts - T/F
Q6: A company is a voluntary association of persons
Q7: A company is an artificial person having no body or soul
Q8: A company the only limited shares
Q9: A company may be with unlimited liabilities
Q10: On registration a company becomes a distinct legal entity, has perpetual succession and its property is not the property of shareholders
Q11: The memorandum of association of a company must be printed, divided into paragraphs numbered consequently and signed by the subscribers
Q12: A company can have any name
Q13: 'Goods' means every kind of movable property including action able claims and money
Q14: The doctrine of Caveat Emptor has been modified by consumer protection Legislation
Q15: A lien is the right to hold the property of another as security for the performance of obligation
Q16: Lien is not a possessory right
Q17: A contract for sale of Goods may be made in writing or by word of mouth but cannot be implied from the conduct of the parties
Q18: A contract of sale of goods is through immediate delivery only
Q19: A negotiable instrument is a document of title
Q20: A particular form is necessary for delivery of a negotiable instrument
Q21: A person taking bill of exchange can take a better title than the person from whom he took it
Q22: A bill of exchange with the words written 'Not Negotiable' across it is still negotiable
Q23: 'Choser - in- action' is a term used in Negotiable Instrument
Q24: A drawer of a dishonored cheque shall be deemed to have committed an offence
Q25: A blank signed paper give to another party cannot be made bill of exchange
Q26: A life insurance policy in India can be avoided on the ground of suicide
Q27: An LIC life insurance policy contains ' Suicide Clause' for the entire currency of the policy
Q28: There is no difference between assignment and Nomination in so far as insurance is concerned
Q29: All insurance policies have a surrender value
Q30: An insurance policy is with nature of contract
Q31: An arbitration agreement need to be in writing
Q32: Matrimonial matters can be referred to arbitration in India
Q33: Parties are free to agree on the place of arbitration
Q34: An award is in the nature of individual verdict
Q35: Indian Arbitration law does not comprehensively cover international commercial arbitration
Q36: Consumer protection Act, 1986 is the judicial machinery for speedy redressal of consumer disputes
Q37: Consumer Protection Act, 1986 deals only with defects in relation to goods
Q38: Any affiliation by a consumer in any form is a complaint
Q39: The provisions in Consumer Protection Act, 1986 are in addition to and not in derogation of any other law for the time being in force
Q40: There is no provision for the right to consumer education in the consumer Protection Act, 1986
Q41: An invitation to offer is a good offer
Q42: A quasi contract is not a contract at all
Q43: An agreement to agree is a valid contract
Q44: An attempt at deceit which does not deceive is not fraud
Q45: A stranger to a consideration cannot maintain a suit
Q46: A married woman cannot enter into a contract
Q47: A minor girl can enter into a contract
Q48: For breach of a contract a party cannot claim compensation for loss or damage
Q49: A contract for fire insurance is not valid
Q50: A seller cannot convey a better title to the buyer than he himself has
Q51: The ownership in goods passes only on delivery
Q52: The present sale of future goods is an agreement to sell
Q53: Risk follows ownership
Q54: An agreement to sell is not a contract of sale
Q55: Not negotiable crossing of a cheque stops its transferability
Q56: A bill of exchange cannot be crossed
Q57: A cheque is a promise to pay
Q58: A cheque is always payable on demand
Q59: A promissory note can be made payable to bearer on demand
Q60: A crossed cheque can be encashed at a counter of the bank