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Legal Aspects of Business - Legal Aspects of Business Section 1

Avatto > > UGC NET COMMERCE > > PRACTICE QUESTIONS > > Legal Aspects of Business > > Legal Aspects of Business Section 1

26. A, an insurance broker, employed by B to effect an insurance on a ship, omits to see that usual clauses are inserted in the policy. The ship is afterward lost. In consequence of the omission of the clauses, nothing can be recovered from the underwriters.

A
A is not bound to make good the loss to B
B
A is bound to partially make good the loss to B
C
A is bound to make good the loss to B
D
None of these

Answer
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Option : C
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27. A, as surety for B, makes a bond jointly with B to C, to secure a loan from C to B. Afterwards, C obtains from B a further security for the same debt. Subsequently, C gives up further security.

A
A is partly discharged
B
A is discharged
C
A is not discharged
D
None of these

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Option : C
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28. A, at Madras, by letter directs B to sell for him some cotton lying in a warehouse in Bombay, and afterward, by letter revokes his authority to sell, and directs, B to send, the cotton to Madras, B, after receiving the second letter, enters into a contract with C, who knew of the first letter, but not of the second for the sale to him of the cotton. C pays B the money, with which B absconds.

A
C’s payment is not good as against A
B
C’s payment is good as against A
C
either (A) or (B)
D
None of these

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Option : B
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29. A owns a shop in Serampur, living himself in Calcutta, and visiting the shop occasionally. The shop is managed by B, and he is in the habit of ordering goods from C in the name of A for the purposes of the shop, and of paying for them out of A’s funds without A’s knowledge.

A
B has no implied authority from A to order goods from C in the name of A for the purposes of the shop
B
B has an implied authority from A to order goods from C in the name of A for his own purposes
C
B has an implied authority from A to order goods from C in the name of A for the purposes of the shop
D
None of these

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Option : C
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30. A contract to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of 200 rupees.

A
This is a contract of indemnity
B
This is not a valid contract of indemnity
C
This is a contract of stipulation
D
None of these

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Option : A
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Page 6 of 14« 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.
Legal Aspects of Business Section 1

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