Legal Aspects Of Business MCQ

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• Patent ability criteria includes<br>1. novelty<br>2. inventive step<br>3. capable of Industrial application<br>Select the correct answer
  ক

  Only 2

  খ

  Both 1 and 3

  গ

  Both 2 and 3

  ঘ

  All of the above
• Section 6 of the Negotiable Instruments Act defines a:
  ক

  Cheque

  খ

  Bill of Exchange

  গ

  Promissory Notes

  ঘ

  Dishonour by non-payment
• Which of the following fact/s is/are true about public domain?
  ক

  It refers to creative materials that are not protected by intellectual property laws such as copyright, trademark, or patent laws

  খ

  The public owns these works, not an individual author or artist

  গ

  Anyone can use a public domain work without obtaining permission, but no one can ever own it

  ঘ

  All of the above
• An instrument containing an unconditional promise to pay a certain sum, is called
  ক

  bill of exchange

  খ

  cheque

  গ

  Promissory note

  ঘ

  All of these
• Which of these is a geographical indication?
  ক

  Champagne

  খ

  Hogwarts

  গ

  Playstation

  ঘ

  World Wide Web
• Under Caveat Emptor, the buyer can shift the responsibility to the seller if which of the following condition/s is/are fulfilled?
  ক

  If the buyer shares with the seller his purpose for the purchase

  খ

  The buyer relies on the knowledge and/or technical expertise of the seller

  গ

  The seller sells such goods

  ঘ

  All of the above
• Which of the following is/are an exception to the doctrine of caveat emptor?
  ক

  Usage of trade

  খ

  Sale by sample

  গ

  Seller commits fraud

  ঘ

  All of the above
• A company incorporated by a special Act of Parliament or any State Legislature is called
  ক

  Government company

  খ

  Public company

  গ

  Statutory company

  ঘ

  Registered company
• What is the Quorum of the Annual General meeting in the case of a private company?
  ক

  2 members

  খ

  3 members

  গ

  4 members

  ঘ

  5 members
• The winding up of a company can be done voluntarily by the members of the Company:
  ক

  if the company passes a special resolution for winding up of the Company

  খ

  the company in general meeting passes a resolution requiring the company to be wound up voluntarily as a result of the expiry of the period of its duration, if any, fixed by its articles of association or on the occurrence of any event in respect of which the articles of association provide that the company should be dissolved

  গ

  both A and B

  ঘ

  after seeking guidelines from RoC
• Existing goods can be classified as:
  ক

  Ascertained goods

  খ

  Generic goods

  গ

  Both A and B

  ঘ

  Neither A neither B
• Notice of dishonour is given by holder to . . . . . . . . liable under instrument.
  ক

  drawer

  খ

  all parties

  গ

  maker

  ঘ

  payee only
• To achieve its objectives, the CCI endeavours to do the following functions.<br>1. Develop and nurture effective relations and interactions with sectoral regulators.<br>2. Ensure fair and healthy competition.<br>3. Implement competition policies aiming for the most efficient utilisation of economic resources.<br>4. Make the markets work for the benefit and welfare of politicians.<br>Identify the correct statements.
  ক

  Both 1 and 4

  খ

  2, 3 and 4

  গ

  1, 2 and 3

  ঘ

  1, 3 and 4
• Official liquidators are appointed from a panel of
  ক

  Professional firms of Chartered Accountants

  খ

  Advocates

  গ

  Company Secretaries

  ঘ

  All of the above
• Capital profits are related to
  ক

  Premium on issue of shares

  খ

  Profit prior to incorporation

  গ

  Premium on issue of debentures

  ঘ

  All of the above
• A person supplying 'necessaries' to an incompetent person is entitled to be reimbursed from the
  ক

  incompetent person personally

  খ

  parents of incompetent person

  গ

  property of incompetent person

  ঘ

  funds with the State Government
• The object of winding-up of a company by the tribunal is:
  ক

  to facilitate the protection of its assets

  খ

  to convert the company into private company, if it is a public company

  গ

  to convert the company into public company, if it is a private company

  ঘ

  to change the Memorandum of Association and Articles of Association
• Tire term quasi-contract is used in Indian Contract Act in
  ক

  Section 68 to 72

  খ

  Section 69

  গ

  Section 71

  ঘ

  None of these
• India has chosen . . . . . . . . model of dual GST.
  ক

  Canadian

  খ

  Cuba

  গ

  Belize

  ঘ

  Nicaragua
• In a promissory note, the amount of money payable:
  ক

  must be certain

  খ

  may be certain or uncertain

  গ

  is usually uncertain

  ঘ

  is always negotiable
• Complete the following sentence.<br>Unless otherwise agreed, the goods remain at seller's risk until:
  ক

  the goods have been delivered to the buyer

  খ

  the goods have been utilised by the buyer

  গ

  the price to the goods has been received by seller

  ঘ

  the property therein has been transferred to the buyer
• For the acts of a person appointed as a sub-agent by the agent without having an authority to do so:
  ক

  the agent is responsible to the sub-agent only

  খ

  the agent is responsible to the principal only

  গ

  the agent is responsible to third person only

  ঘ

  the agent is responsible to both the principal and third person
• The President of India can remove the Chief Information Commissioner on the basis of which of the following grounds?<br>1. Insolvent<br>2. Involved in any paid employment outside is office<br>3. Unfit to continue in office due to infirmity of mind and body<br>4. Proved misbehaviour or incapacity
  ক

  Only 1 and 4

  খ

  Only 3 and 4

  গ

  Only 1 and 3

  ঘ

  All 1, 2, 3, 4
• Business vertical refers to:
  ক

  Joint venture

  খ

  Different businesses within a group

  গ

  Competitors in business

  ঘ

  All of the above
• Which of the following is an essential(s) of bill of exchange?
  ক

  Unconditional order

  খ

  Certain sum of money

  গ

  Three parties

  ঘ

  All of these
• Which of the following rights are provided by copyrights?
  ক

  Reproduction of the work in various forms

  খ

  Public performance and translate into other languages

  গ

  Broadcasting by radio or cable

  ঘ

  All of the above
• How many schedules are there in IT Act, 2000?
  ক

  2

  খ

  3

  গ

  4

  ঘ

  6
• Which of the following acts in India mainly focus on data privacy and information technology?
  ক

  IT Act 2000

  খ

  Banking Regulation Act 1949

  গ

  Indian Penal Code

  ঘ

  IT (amendment) Act 2008
• What protects the intellectual property created by inventors?
  ক

  Copyright

  খ

  Geographical indications

  গ

  Patents

  ঘ

  Registered designs
• A Special Resolution requires
  ক

  7 day's notice

  খ

  14 day's notice

  গ

  21 day's notice

  ঘ

  30 day's notice