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Business Laws MCQs

M

Mr. Dubey • 51.17K Points
Coach

Q 1. A drawee is need to be given a deliberation of

(A) 24 hrs
(B) 48 hrs
(C) 72hrs
(D) 10 days
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M

Mr. Dubey • 51.17K Points
Coach

Q 2. Presentment of an acceptance is required in case of

(A) Every Bill of exchange
(B) Every Bill of exchange payable after sight
(C) Every promissory note
(D) Every cheque
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M

Mr. Dubey • 51.17K Points
Coach

Q 3. A minor cannot be a______________ of the instrument

(A) Drawer
(B) Drawee
(C) Payee
(D) Acceptor
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M

Mr. Dubey • 51.17K Points
Coach

Q 4. Presentation is required for

(A) Acceptance
(B) Sight
(C) Payment
(D) Any of the above three purposes
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M

Mr. Dubey • 51.17K Points
Coach

Q 5. Notice of dishonour must be given

(A) To the drawer and drawee only
(B) To the drawer, acceptor and endorser(s) only
(C) To all the parties liable on the instrument or to their duly authorized agent
(D) To all the parties who are secondarily liable on the instrument or to their duly authorized agent
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M

Mr. Dubey • 51.17K Points
Coach

Q 6. Crossing of a cheque effects the

(A) Negotiability of the cheque
(B) Mode of payment on the cheque
(C) Both (a) and (b)
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 7. If the words "not negotiable" are used with special crossing in a cheque, the cheque is

(A) Not transferable
(B) Transferable
(C) Negotiable under certain circumstances
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 8. If a cheque is refused by the State Bank of India (SBI) due to inadequacy of funds for the cheque to clear, then it is said to be

(A) Bounced cheque
(B) Cancelled cheque
(C) Either a or b
(D) Both a and b
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M

Mr. Dubey • 51.17K Points
Coach

Q 9. The agent having in customary course of business as such agent authority either to sell goods or to consign goods for the purpose of sale or to buy goods or to raise money on the security of goods is called

(A) Agent
(B) Mercantile agent
(C) Partner
(D) None of above
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M

Mr. Dubey • 51.17K Points
Coach

Q 10. Seller has right of resale where

(A) Goods are perishable
(B) Seller has reserved such right.
(C) Seller gives notice
(D) All of these.
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