31. Maximum number of members in case of public company is:
A. 50
B. 100
C. Unlimited
D. 200
✅ The correct answer is option C.
Business Laws
32. Which company shares can be freely transferable?
A. Private company
B. Public company
C. Both a & b
D. None of the above
✅ The correct answer is option B.
33. The Right of Lien is exercised:
A. To retain the possession of goods
B. To regain the possession of goods
C. To resell the goods
D. To transfer the goods
✅ The correct answer is option A.
34. Delivery of key of the warehouse by the seller to the buyer will amount to:
A. Symbolic Delivery
B. Actual Delivery
C. Constructive Delivery
D. No delivery
✅ The correct answer is option A.
35. Where an unpaid seller has made part delivery of the goods he may exercise his Right of _______
A. Return of remaining goods
B. Lien on the remaining goods
C. Sale to any other person
D. None of above
✅ The correct answer is option B.
36. Where a contract has to be inferred from the conduct of parties, it is called
A. Express contract.
B. Implied contract.
C. Tacit contract.
D. Unlawful contract
✅ The correct answer is option B.
37. A invites B for coffee in Coffee day Restaurant and B accepts the invitation. On the appointed date, B goes there but A does not come. In this case
A. B has no remedy against A.
B. B has to wait for another invitation from A.
C. B can sue A for not honoring his words.
D. A has to invite B again, to keep the promise.
✅ The correct answer is option A.
38. Anuj agrees to pay Rs10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes:
A. Valid
B. Void
C. Voidable
D. Illegal
✅ The correct answer is option B.
39. Which of the following is false with respect to minor entering a contract?
A. An agreement with or by a minor is void ab initio
B. A minor can be a beneficiary of a contract
C. The guardian of a minor is responsible for his acts
D. A minor cannot ratify a contract on attaining majority
✅ The correct answer is option C.
40. Seller has right of resale where
A. Goods are perishable
B. Seller has reserved such right.
C. Seller gives notice
D. All of these.
✅ The correct answer is option D.