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BLP - MODULE -2

BLP - MODULE -2

Assessment

Presentation

Professional Development

Professional Development

Easy

Created by

V MURALI KRISHNA undefined

Used 1+ times

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65 Slides • 34 Questions

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Multiple Choice

What is the title of the act mentioned in the image?

1

Sale of Goods Act, 1930

2

Goods and Services Act, 1930

3

Trade and Commerce Act, 1930

4

Consumer Protection Act, 1930

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Multiple Choice

When someone is authorized to act on behalf of another it is governed by _____________ law.

1

tort

2

administrative

3

statutory

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agency

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Multiple Choice

When was the Indian Sale of Goods Act enacted?

1

1930

2

1947

3

1950

4

1963

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Multiple Choice

Two major elements which defines a contract .......

1

Offer and acceptance

2

Agreement and enforceable by law

3

Consideration and offer

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Multiple Choice

What does Sec 4(1) of the Indian Sale of Goods Act, 1930 define as a contract of sale of goods?

1

A contract to sell services

2

A contract to sell goods for a price

3

A contract to lease goods

4

A contract to donate goods

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Multiple Choice

What are the essential elements of a valid contract as depicted in the diagram?

1

Buyer and Seller

2

Goods

3

Price

4

Transfer of Property

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Multiple Choice

What are the six essential elements of a contract of sale?

1

Agreement

2

Free Consent

3

Competency of the Parties

4

All of the above

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Open Ended

Explain the concept of 'transfer of property' as described in the text.

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Multiple Choice

What does the term 'goods' include according to the definition provided?

1

Only physical items

2

Every kind of moveable property

3

Only stocks and shares

4

Only crops and grass

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Multiple Choice

What are the three types of goods mentioned in the image?

1

Existing Goods

2

Future Goods

3

Contingent Goods

4

All of the above

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Multiple Choice

What are the three types of existing goods?

1

Specific goods

2

Ascertain goods

3

Unascertained goods

4

None of the above

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Multiple Choice

Sugar and flour that are purchased to make baked goods are classified as

1

parts.

2

installations.

3

consumer goods

4

materials.

24

Multiple Choice

A RAW good is:

1

Cotton

2

Ants

3

Dogs

4

Couch

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Multiple Choice

Which of the following is an industrial good:

1

Tires for a tow truck

2

Matt’s cell phone

3

Holiday flowers

4

Emily’s home computer

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Fill in the Blank

Fill in the blank: Unascertained goods are defined only by __________ or by sample.

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Multiple Choice

What are future goods as defined in the contract of sale?

1

Goods that are already manufactured

2

Goods that are to be manufactured or produced after the contract

3

Goods that are not sold

4

Goods that are perishable

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Multiple Choice

What are contingent goods and how do they depend on a contingency?

1

Goods that are always available

2

Goods that depend on a contingency

3

Goods that are never sold

4

Goods that are only sold in bulk

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Multiple Choice

What is the difference between a contract of sale and an agreement to sell?

1

A contract of sale transfers ownership immediately

2

An agreement to sell transfers ownership immediately

3

Both are the same

4

Neither involves ownership transfer

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Multiple Choice

What is a sale in terms of contract?

1

A transfer of ownership of goods

2

A verbal agreement

3

A promise to pay

4

A lease agreement

36

Multiple Choice

Green Thumb Gardens sold $1,500 worth of soil to Floral Designs on account.

1

Purchase on Account

2

Sale on Account

3

Payment Made on Account

4

Payment Received on Account

37

Multiple Choice

The transfer in writing of interest in a bond, mortgage, lease, or other instrument. 

1

option

2

novation

3

contract

4

assignment

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Multiple Choice

What is an agreement to sell?

1

A contract of sale where property is transferred immediately

2

A contract of sale where property is transferred at a future date

3

A contract of sale that does not involve goods

4

A contract of sale that is not legally binding

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Multiple Choice

What were the two necessary conditions for the contract in Johnson v Macdonald?

1

The ship must arrive safely

2

The buyer must pay immediately

3

The goods must be delivered on time

4

The seller must have a backup plan

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Open Ended

List the seller obligations highlighted in the case regarding online sales.

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Multiple Choice

What was the main issue in the case of Tata Motors Ltd. vs. Antonio Paulo Vaz?

1

Deficiency in service

2

Unfair trade practice

3

Misrepresentation of a new car

4

All of the above

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Multiple Choice

What is the main difference in ownership transfer between a Sale and an Agreement to Sell?

1

Ownership passes to the buyer

2

Ownership remains with the seller

3

Ownership is shared

4

Ownership is temporary

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Multiple Choice

What are the three types of documents that serve as a title to goods?

1

Bill of Lading

2

Dock Warrant

3

Warehouse keeper's Certificate

4

Invoice

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Open Ended

What is the significance of the Warehouse Keeper’s Certificate in the context of goods storage?

52

Fill in the Blank

Fill in the blank: A __________ is issued by a railway administration acknowledging goods received for transport.

53

Multiple Choice

Which document is issued by dock authorities as evidence that specified goods are in the dock?

1

Bill of Lading

2

Dock Warrant

3

Warehouse Keeper’s Certificate

4

Railway Receipt

54

Multiple Choice

What is the purpose of a Bill of Lading?

1

To acknowledge receipt of goods for carriage by sea

2

To confirm goods are in the warehouse

3

To demand delivery of goods from the dock

4

To instruct delivery of goods to a person

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Multiple Choice

What are the key differences between conditions and warranties in a contract?

1

Conditions are essential to the contract

2

Warranties are essential to the contract

3

Both are equally important

4

Conditions can be waived

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Multiple Choice

What is the definition of a condition in the context of contracts?

1

A stipulation that is optional

2

A demand that can be ignored

3

A stipulation essential to the main purpose of the contract

4

A suggestion for negotiation

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Multiple Choice

What is the main condition precedent that Company B must fulfill before the transaction can be finalized?

1

Obtain regulatory approvals

2

Pay the purchase price

3

Sign the Share Purchase Agreement

4

Complete the acquisition

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