Business Regulations MCQs and Notes

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📊 Business Regulations
Q. When a person has done some work under a contract and the other party repudiates the contract, then the party who performed the work can claim remuneration for the work done. This is based on the principle of
  • (A) rescission
  • (B) quantum meruit
  • (C) injunction
  • (D) specific performance
💬 Discuss
✅ Correct Answer: (B) quantum meruit
📊 Business Regulations
Q. In a contract of sale of goods, condition as to merchantable quality of goods applies
  • (A) where goods are bought by description.
  • (B) where the goods are bought from the person who deals in the goods for that description.
  • (C) where goods are sold under a trade mark.
  • (D) all of the above
💬 Discuss
✅ Correct Answer: (D) all of the above
📊 Business Regulations
Q. Which relief can be obtained by consumers from commission?
  • (A) to remove defects from goods
  • (B) not to offer the hazardous goods for sale
  • (C) to stop manufacturing of hazardous goods
  • (D) all of the above
💬 Discuss
✅ Correct Answer: (D) all of the above
📊 Business Regulations
Q. District Forum shall have same power as are vested in the _________
  • (A) civil court
  • (B) fast track court
  • (C) criminal court
  • (D) special court
💬 Discuss
✅ Correct Answer: (A) civil court
📊 Business Regulations
Q. Consumer disputes redressal agencies include _________
  • (A) district forum
  • (B) state commission
  • (C) national commission
  • (D) all of the above
💬 Discuss
✅ Correct Answer: (D) all of the above
📊 Business Regulations
Q. Under the Consumer Protection Act, complainant means
  • (A) central or state government
  • (B) legal representative of the deceased consumer
  • (C) both (a) & (b)
  • (D) neither (a) nor (b)
💬 Discuss
✅ Correct Answer: (C) both (a) & (b)
📊 Business Regulations
Q. The provisions of Consumer Protection Act is applicable
  • (A) goods
  • (B) service
  • (C) goods or service
  • (D) goods and services
💬 Discuss
✅ Correct Answer: (D) goods and services
📊 Business Regulations
Q. An appellant would be-
  • (A) any consumer
  • (B) any voluntary consumer
  • (C) legal heir of consumer
  • (D) all of above.
💬 Discuss
✅ Correct Answer: (D) all of above.
📊 Business Regulations
Q. Age of a member of State Commission must be not less than-
  • (A) 18 years
  • (B) 25 years
  • (C) 35 years
  • (D) 60 years
💬 Discuss
✅ Correct Answer: (C) 35 years
📊 Business Regulations
Q. Jurisdiction of State Commission is-
  • (A) up to 5 lacs
  • (B) up to 20 lacs
  • (C) up to 30lacs
  • (D) none of these
💬 Discuss
✅ Correct Answer: (D) none of these

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