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Business Law - Business Law Section 2

Avatto > > CS foundation > > PRACTICE QUESTIONS > > Business Environment And Law > > Business Law > > Business Law Section 2

26. The defense of invalidity of contract for non-compliance of Article 299 must be specifically pleaded unless it is patent from allegations in the plaint or evidence adduced by the plaintiff. This question has arisen in which of the following types of cases:

A
cases under ss. 7 (d) and 9A of the Representation of People’s Act, 1951 in connection with disqualification from being elected to the Parliament of the state legislature
B
where the contracts did not comply with the exact requirements of Article 299 (1)
C
contracts entered in the exercise of statutory powers
D
All of them

Answer
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Option : D
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27. The doctrine of apparent authority applies:
I. where a person allows another who is not his agent to appear as his agent
II. where a principal allows his agent to appear to possess more authority than he actually has
III. where the principal reserves or limits the authority of an agent which the agent would have in the ordinary course of business, but does make this known to third parties
IV. where the principal allows it to appear that the agent has authority although his authority has been terminated

A
I, II
B
II, IV
C
Ill, IV
D
All of them

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Option : D
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28. The doctrine of privity means:

A
That a person cannot acquire rights to liabilities arising under a contract to which he is not a party
B
That a person cannot be subject to liabilities arising under a contract to which he is not a party
C
That a contract between A and B can affect the legal rights of C indirectly
D
All of them

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Option : D
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29. The duty of the disclosure is limited to cases of:

A
unusual features of the transaction
B
unusual features of the risk
C
both (A) and (B)
D
None of these

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Option : A
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30. The duty of utmost good faith is of universal application to all policies of insurance although there are differences in the detail affecting the way in which the duty is applied. In practical application, it means that either party has the right to avoid the contract if:

A
there has been a failure by the other party to disclose a material fact
B
that there has been on the part of the other party a misrepresentation of a material fact
C
either (A) or (B)
D
None of these

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Option : C
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Page 6 of 19« First «...4 567 8...»Last »

Business Environment And Law
- Business Environment
- Business Law
  - Business Law Section 1
  - Business Law Section 2
Business Management, Ethics And Entrepreneurship
Business Economics
Fundamentals Of Accounting And Auditing

Related Quiz.
Business Law Section 2

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