Business law

Which is

valid aceptance for Bill of Exchange?

• Written

  without signature

• signed by

  drawer

• signed by

  drawee

• oral

_______is

generally a person who for consideration became possessor of a promissory

note, bill of exchange or cheque

• Holder in due course

• Holder

• Drawer

• Drawee

If an

instrument may be construed either as a promissory note or bill of exchange,

it is ______ .

• ambiguous

  instrument

• returnable

  instrument

• technical

  instrument

• valid instrument

cheque

is always payable on demand.

• True

• False

• Partly true

• Partly false

______ Days of

grace provided to the Instruments at maturity is (as per the provisions of

the Negotiable Instruments Act, 1881)

• 2

• 3

• 5

• 4

I dentify

what is non inclusive in the duty of an agent:

• Act in

  good faith

• skill and deligence

• Communicate

  with principal

• Indemnify

  third party for default of principal

Sale of

Goods involve _______.

• Transfer

  of ownership and possession

• Transfer

  of possession but not ownership

• passing

  of liabilities

• Creation

  a charge on goods

“

Consensus – ad – idem” means ………

• General

  Consensus

• Meeting

  of minds upon the same thing in the same sense

• Reaching

  an agreement

• Reaching

  of agreement

  Reaching

  of agreement

For

an acceptance to be valid, it must be _____

• Partial

  & qualified

• Absolute

  & unqualified

• Partial

  & unqualified

• Absolute

  & qualified

What is

the minimum consideration required to create an agency?

• Minimum

  of Rupees One Lakh

• Minimum

  of Rupees One Thousand

• No

  consideration at all is required

• Minimum

  of Rupees Ten Thousand