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Legal Aspects of Business MCQ - Legal Aspects of Business Section 2

36 The general principle of the common law is that in the formation of a contract:

37 The grounds on which administrative action would be subject to control by judicial review could be classified as:

A
illegality (namely, failure to give effect to the law that regulates the decision making power)
B
irrationality, namely Wednesbury unreasonableness, the question ‘whether or not they [the local authority] have taken into account matters which they ought not to have taken into account, or … have refused to take into account or neglected to take into account matters which they ought to take into account’
C
procedural impropriety
D
All of them

38 The guarantor’s right to indemnification is a right to be reimbursed:
I. the amount which he actually paid for the principal- debtor – with interest
II. because he is entitled to full indemnification from the principal-debtor

39 What is the purpose behind the enactment of the Sale of Goods Act, 1930?

40 Section 2(1) of the Sale of Goods Act defines ‘buyer’ as:

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Question:

Choose the most appropriate option in respect of a Sale which is not generally rescinded by lien or stoppage in transit:

A. A contract of sale is rescinded by the exercise of an unpaid seller’s right of lien or stoppage of lien
B. Where an unpaid seller who has exercised his right of lien or stoppage in transit resells the goods, the buyer of such goods does not acquire a good title thereto as against the original buyer.
C. Where the seller resells the goods in case of buyer’s default the original contract of sale is not rescinded
D. Where the unpaid seller who has exercised his right of lien or stoppage in transit gives notice to buyer of his intention to resell, the unpaid seller may resell the goods within a reasonable time and recover damages incurred due to his breach of the contract from the original buyer

Correct answer: D

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