Legal aspects of business
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Legal aspects of business questions with answers

930 multiple-choice questions. Open any question for its answer and explanation.

  1. Integrated GST is applicable on:
  2. Which of the following statement is/are correct about the Central Information Commission? 1. Post of Central Information Commission is derived from the RTI Act, 2005. 2. Chief Information Commission and other commissioners can hold office for the period of 3 years. 3. On the advice of Supreme Court, the President can remove the Chief Information Commission and other commissioners.
  3. Which of the following descriptions are correct? 1. Two competent parties - Sections 11 and 12 2. Valid acceptance - Sections 4 to 7 3. Lawful consideration - Sections 2(d) and 25 4. Free and voluntary consent - Sections 15 and 19A
  4. Where the provisions of the companies Act are violated the auditor must report the same to the:
  5. The indemnity holder is not entitled to:
  6. What percentage of income from compensation on disaster is exempted from tax liability?
  7. If a person who is incapable of entering into a contract is supplied with necessaries by another person, then the latter shall:
  8. A negotiable instrument may be dishonoured
  9. Match List-I with List-II and select the correct answer: List-I List-II a. Unpaid seller 1. Section 45 b. Right of lien 2. Section 47 c. Right of stoppage in transit 3. Section 50 d. Right of resale 4. Section 54
  10. A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. This is
  11. In India, GST become effective from
  12. Which of the following commodities is kept outside the purview of GST?
  13. Which of the following is not the objective of the Competition Act, 2002?
  14. In which of the following cases the unpaid seller cannot exercise the right of lien on goods in his possession?
  15. As per the 101st Constitution Amendment Act, the power to levy GST rests on . . . . . . . .
  16. When all the rights under a negotiable instrument are extinguished and instrument cannot be further negotiated, it is called . . . . . . . . of instrument.
  17. A contract where the seller transfers or agrees to transfer property in goods to buyer for a price is called.
  18. Where a promisor has made an offer of performance to the promise and the offer has not been accepted:
  19. Which one of the following is not correct relating to competition policy and law?
  20. Consideration should not be . . . . . . . . but is should be natural.
  21. Every company has to file with registrar, a copy of
  22. When the goods are sold on credit and credit period is not expired, the seller of goods is
  23. Indicate the true statement.
  24. Mr. X writes, "I promise to pay 'Mr. Y , Rs. 5,000, 7 days after the death of Mr. Z." This is
  25. Which of the following is not a method of creating a company?