Bhavani Lab

Legal Aspects of Business Unit – I (Law of Contracts) Fill in the Blanks is an agreement made between two (or) more parties which the law will

1. enforce.

2. Every promise and set of promises forming consideration to each other is defined as _________. 3. “All ________ are agreements but all _______ need not be controls. 4. An agreement that is enforceable by law is defined as _________. 5. An agreement become a contract if all the essential elements are _______ 6. A contract is ________ when the consent if the parties to the contract are not free. 7. A contract which was valid initially. But has become void due to the occurrence of some event is called ____________ contract. 8. A violable contract is __________ until it is avoided by the party entitled to do so. 9. An agreement which is nor enforceable by law is __________ agreement. 10. _________ is a contract which is nor a contract between two parties.

11. ________ is a contract that is used to expressly agree upon at the time of the formation of the contract.

12. ________ contract is one which is implied from the behavior of the parties and not by the word spoken (or) written.

13. ________ is a contract in which both the parties are yet to perform their obligations.

14. The _________ must be communicated to the offers according to the mode prescribed.

15. _________ contract is one in which both the parties are yet to perform their obligations. 16. _________ is considered as a something in return.

17. ________ are _______ of the parties of agreement must be competent to enter into a valid contract.

18. when a proposal is made by one party, the consent (or) acceptance of the other party must be free is called as __________.

19. an offer which is made by expressing words, spoken (or) written is called _________ offer. 20. offer is classified a _________ and __________. 21. A representation when it is strongly made is _______.

22. _______ is a proposal made by one party to another to enter into a legally binding agreements.

23. ________ means a breaking of the obligation which a contract imposes.

24. When a contract is broken by one party the other parity may sue to treat the contract as reside is ___________ of contract.

25. Termination of contractual obligations between the parents is _______.

26. According to section ____________a contract is an agreement enforceable by law.

27. A __________________ is that which gives rise to legal consequence and remedies in the law court in case of breach.

28. Quantum merits literally means _____________________

29. a __________________ rest on the ground of equity that a person shall not be allowed to enrich himself unjustly at the expenses of another . 30. law of quasi-contract is also known as _______________

31. ______________ when there is breach of contract by a party ,the injured party may sue to treat the contract as rescinded.

32. ____________ are monetary compensation awarded to the injured party by court for the loss or injured suffered by him.

33. These are the damages which actually arise in the usual course of things from the _________________

34. ______________ it is a mode of securing the specific performance of the negative terms of a contract.

35. In certain cases of _____________ damages are not an adequate remedy. 36. The largest number of cases decided under sec.(74) relate to stipulation in a contract providing for _____________

37. _______________ represents a sum , fixed or ascertained by the parities in the contract .

38. A _____________ is a sum named in the contract at the time of its formation.

39. __________ can be recovered for physical inconvenience and discomfort. 40. Damages for loss of reputation in case of _______________ are generally not recoverable. 41. Where there is a right, there is a _____________

42. A remedy is the means given by law for the __________________

43. __________________ takes place when the parities to the contract fulfill their obligation arising under the contract within the time and in manner prescribed.

44. If a party breaks his obligation which the contract imposes there takes place _______________

45. A contract is said to be _____________when the obligation created by it come to an end.

46. A contract may be discharged independently of the wishes of the parities __________________ 47. _____________ means the doing of that which is required by a contract.

48. When the both parities perform their promises, the contract is ____________

49. Rejection of the offer may be ______________ or __________.

50. Where an offered accepts an offer is _________________

KEY:1. Contract 2. Agreement 3. Contracts & Agreements 4. Contracts 5. Satisfied 6. Void able 7. Void 8. Valid 9. Void 10. Quasi contract

11. Express contract 12. Implied contract 13. Executors contract 14. Acceptance 15. Bilateral 16. Consideration 17. Capacity and Competence 18. Free consent 19. Express offer 20. General offer and specific offer 21. Misrepresentation

22. Offer 23. Breach of contract 24. Rescission 25. Discharge of contract 26. 2(h) 27. legal agreement 28. as much as is earned 29. quasi-contract 30. law of restitution 31. Recession 32. Damages 33. Breach of contract 34. Injunction 35. Breach of contract 36. Payment of interest.

37. Liquidated damages 38. penalty 39. Damages 40. breach of contract 41. remedy 42. enforcement of a right 43. Discharge by performance 44. breach of contract 45. Discharged 46. by operation of law 47. Performance 48. Discharges 49. express or implied 50. “Subject to contract”.

Multiple Choice Questions 1. Determine factor is future extent in ___________ Agreement. ( ) (a) Wagering agreement (c) Contractual agreement (b) Contingent contract (d) none 2. _______ is an agreement which is not enforceable by law ( ) (a) Valid agreement (c) A&B (b) Void agreement (d) none 3. A ______ Mistake is not allowed as defense in avoiding a contract. ( ) (a) Contract (c) unilateral

(b) Discharge of contract (d) proposal 4. An agreement is a contract if it is made for a lawful consideration and with a lawful Object is ______ . ( ) (a) Legality of object (c) Agreement (b) Discharge of can tract (d) Proposal 5. Every illegal agreement is unlawful but every unlawful agreement is nor necessarily _______. ( ) (a) Legal (c) Contract (b) Illegal (d) Agreement 6. A Representation when wrongly made, either innocently (or) intentionally is a ________. ( ) (a) Misrepresentation (b) Representation (c) Contract (d) none 7. The ______ (or) the consent of the parties must be free. (a) Coercion (c) Acceptance (b) Agreement (d) none

(

)

8. A contract without ________ is void. (a) Contract (c) Proposal (b) Consideration (d) All the above

(

)

9. Consideration is one of the essential elements of ___ contract. (a) Void (c) Representation (b) Valid (d) none

(

)

10. A contract which is not a contract between two parties. (a) Agreement (c) Acceptance contract (b) Proposal (d) none

(

)

11. A _____ with out consideration is void. (a) Contract (c) Agreement (b) Proposal (d) none

(

)

12. The termination of the contractual obligations between the parties is( (a) Application of contract (c) Legal obligation (b) Discharge of contract (d) none

)

13. All contracts are ______, but all agreements need not be contract. ( (a) Contracts (b) Proposal

(c) Agreements (d)quasi contract

)

14. A _______ become a contract if all the essential elements are satisfied. ( (a) Proposal (c) Contract (b) Agreement (d) none

)

15. A contract is _______________ when the consent of the parties to the contract is not free. ( ) (a) Void able (c) A&B (b) Valid able (d) none 16. Quasi contract is contract which is not a contract of prate ( ) (a) Two parties (c) Zero parties (b) One parties (d) none 17. The offer which is made by expressing words, spoken (or) written is called an __________ offer. ( ) (a) Agreement offer (c) Express offer (b) Acceptance offer (d) none 18. Advertisements in the newspaper announcing a reward is a offer. (a) Formal offer (b) General offer

(

)

(c) Statement (d) none

19. A contract in which both the parties are yet to perform their obligations is____________ ( ) (a) Implied contract (c) Express contract (b) Executor contract (d) none 20. _________ Contract that are used to expressly agreed upon at the time of formation of the contract ( ) (a) Conditional contract (c) Electuary contract (b) Express contract (d) none 21. Consideration is considered as a something in _____________ (a) Payable (c) Acceptable (b) Reduction (d) none

(

)

(

)

22. An ________(or) a proposal not communicated has no legal effects (a) Offer (b) Contract

(c) Acceptance (d) none

23. When an offer is sent by post, its communication wills ___ (a) Complete (c) Negligible (b) Contract (d) none 24. Communication of an ________ is complete (a) Contract (c) Proposal (b) Acceptance (d) none 25. This is considered as a some thing in return (a) Consideration (c) Proposal (b) Acceptances (d) none 26. A void contract a. Is void from the very beginning

c. Is enforceable at the option of one of the contracting parties only d. None of the above 27. General offer can be accepted by

b. Any person having notice of its

b. Specific persons d. None of the above

28. Silence means a. Can not be provided as a mode of acceptance b. Can be provided as a mode of acceptance c. Can be rejected as a mode of acceptance d. None of the above 29. Consideration should be furnished at the desire of a. The promissory b. The promises c. Any other person d. None of the above

30. Consideration may be in the form of

)

(

)

(

)

(

b. Becomes void later on due to certain contingences

a. Any person

(

)

a. A benefit to the promissory

b. A benefit to the promise c. A benefit to the promissory or to determine to the promise

d. None of the above 31. ‘A’ promised to pay a time based debt is enforceable if it is a. An oral promise b. A written promise c. A written and registered promise d. None of the above 32. In a maintenance agreement a. A promissory gets a share b. A promissory does not gets a share

c. The third party gets a share d. None of the above 33. If there is a single object and several considerations the agreement is void if a. All considerations of lawful b. Majority of the considerations are unlawful c. Any one of the considerations is unlawful d. None of the above 34. A contract where the promissory undertakes to perform a contract in all events a. Absolute contract

c. Collateral event

b. Contingent contract d. None of the above

35. A contract to do or not to do some thing if some event collateral to the contract does or does not happen a. Collateral contract

c. Contingent contract

b. Absolute contract d. None of the above

36. Cancellation of a contract by the mutual concern of the party is called a. Novation

b. Recession

c. Satisfaction

d. None of the above

37. A breach committee during the performance of the contract is termed as a. Actual breach b. Anticipatory breach c. Waiver d. None of the above 38. A subsequent change in law will make the contract void because of a. Supervening impossibility b. Commercial impossibility c. Material alteration d. None of the above

39. A claim for quantum meruit cannot succeed a. When an indivisible contract for a lumsum is partly performed b. When a divisible contract partly performed c. When a contract is discovered to be un enforceable d. None of the above

40. Doctrine of restitution is not applicable in case of a. A contract becoming void

c. An agreement known to be void

b. A avoidable contract d. None of the above

41. The order of specific performance will be given by the court in case a. Monetary compensation is not an adequate relief b. Contract is of a personal in nature c. The court cannot supervise execution of the contract d. None of the above 42. Damages which araise in the ordinary course of event from the breach of contracts

a. Nominal damages

b. Special damages

c. Extemporary damages

d. None of the above

43. Damages awarded with the intention of punishing the defaulting party rather than compensating the agreed party a. Nominal damages

b. Special damages

c. Exemplary damages

d. None of the above

44. It means resorting back by a party to the contract to another party and benefit from might have received later. a. Restitution b. Injunction c. Damages d. None of the above 45. A contract is discharged when the obligation created by it come to an end a. Breach of contracts

b. Discharge of contracts

b. Actual breach

d. None of the above

46. Failure of a party to perform his or her obligation under a contract a. Actual breach

b. Breach

c. Anticipatory breach

d. None of the above

47. It implies fulfillment of the terms of the contract by the respective contract to the contract a. Performance of contract b. Tender of contract c. Breach of contract d. None of the above 48. It is an offer to perform once obligation under a contract a. Performance of contract

c. Breach of contract

b. Tender of contract d. None of the above

49. A contract where the promissor undertakes to perform a contract in all events

a. Contigent contract

b. Absolute contract

c. Collateral event

d. None of the above

50. A principal providing that no person can lawfully do that which has tendency to be injurious to the public or to the public good a. Private policy

c. Public policy

KEY:-

b. Object d. None of the above

13. A 14. A

1. B 2. C 3. A 4. A 5. C 6. B 7. B 8. C 9. A 10. C 11. B 12. A

15. C 16. A 17. B 18. A 19. A 20. B 21. B 22. A 23. B 24. B 25. C 26.a

27.b

39.b

28.c

40.a

29.a

41.a

30.b

42.c

31.a

43.b

32.c

44.b

33.b

45.b

34.b

46.b

35.b

47.a

36.a

48.a

37.b

49.b

38.c

50.a

Unit -1(assignment questions) 1. Describe the essential of a valid contract? When does an agreement become void?

2. What is an offer? When it is complete? State the rules of valid offer? 3. Define consideration? Why is it essential in a contract? What are the legal rules regarding consideration? 4. Write a note on discharge of a contract by consent? Descriptive Questions:1. Define contract 2. Define agreement 3. Define offer 4. Define acceptance 5. free consent 6. legality of object 7. breach of contract 8. Quasi contracts 9. valid contracts 10. void contracts 11. discharge of contracts 12. by agreement or consent 13. Quantum meruit 14. injunction 15. damages 16. rescission 17. difference between offer & acceptance 18. reciprocal promises 19. define fraud 20. define misrepresentation

Fill in the Blanks 1.

Unit – II

In Bill of Exchange is grace period is __________ days 2.

3.

_________ is having no grace period. _________ may be crossed but a _______ cannot be crossed

3.

A seller who has not been paid the whole price of the goods sold is __________

5.

A public company may have its own _____________

6.

____________ is a person to whom goods are delivered under a contract of Bailment

7. __________is a stipulation which is essential to the main purpose of the contract 8.

_________ is a person employed to do any act for another to represent another in dealing with third person.

9.

Contracts are formed by ______________

10.

______________ should not be put a third party to Agent.

11.

_________________ duty us to indemnify agent for injury caused by principal neglect (or) want of skills.

12.

____________ is an Instrument means a written document by which a right is Created in favor of some person.

13.

_____________ to disclose the dangerous nature of good

14.

A Breach of __________ can not be treated as a Breach of Condition.

15.

_____________ is a stipulation essential to the main purpose of the contract.

16.

To pay for the goods and take delivery there of is the duty of __________

17.

__________ is an agreement that is enforceable by law.

18.

The sale of goods act was implemented in the Year __________

19.

The Liability of the Indemnifier arises only on the happing of a contingency in ___________

20.

If the goods are in danger of perishing (or) of losing the great part of value is

_____________ 21.

To indemnify the agent injury caused by principal neglect (or) want of skill is the duty of ___________

22.

A cheque is a ___________ drawn on a specific bank, payable on demand.

23. A _____________ is Bills of exchange on a specific bank, payable on demand.

24. The dissolution ________________

25.

of

the

company,

where

principal

(or)

agent

The _______________ denotes a Contract resulting from the delivery.

26. The property in the negotiable instrument is ___________________

27. A person who takes a negotiable instrument for value in good faith and before maturity is a _____________________

is

28. A holder of a negotiable instrument can sue upon it in his _______________

29. A person who undertakes to compensate

the

loss

is

called

the

______________

30. The person whose __________ is to be made good is called the indemnity holder

31. A contract of guarantee is to discharge the liability of a ______________in case of his default

32. A person who gives the guarantee is called the ___________

33. The person to whom ______________is given is called creditor

34. Liability of the surety is _______________with that of the principal debtor

35. In a contract of guarantee there are _______________parties 36. The person in respect of whose default the guarantee is given is called the _____________________

37. By special contract liability of surety can be made _____________that of principal debtor

38. A surety is sometimes called a _______________debtor

39. Any guarantee which creditor has obtained by means of keeping silence as to _______________________is invalid

40. Misrepresentation makes the guarantee _____________

41. The subject matter of contract of _______________is essentially goods

42. __________________goods fall within the class of future goods

43. Warranty is a stipulation that is collateral to __________________of the contract

44. A breach of condition gives the __________________party a right to repudiate the contract

45. The maxim caveat emptor means “let the ____________beware”

46. In a ____________________it is implied that bulk shall correspond to the sample

47. Unless otherwise stated payment of the price and delivery of the goods are __________________

48. Sale is a contract by which property in goods passes from the seller to the buyer for a ___________

49. A promissory note must be in ______________

50 A bill of exchange is an ______________________order

KEY 1. 3 days 2. Cheque 3. Cheque : bill 4. Un paid 5. Articles of Association 6. Bailee 7. Condition 8. Agent 9. Consensus 10. Ratification 11. Principle 12. Negotiable Instrument 13. Warranty 14. Warranty 15. Condition 16. Buyer 17. Contract 18. 1930 19. Contract of Indemnity

20. Right of sale 21. Principle 22. Bill of Exchange 23. Cheque 24. Dissolved 25. Bailment 26. Negotiable 27. holder in due course 28. own name 29. indemnified 30. loss 31. third person 32. surety 33. guarantee 34. co-extensive 35. three 36. principal debtor 37. less than 38. favoured 39. material circumstances 40. invalid 41. sale 42. Contingent 43. the main purpose 44. aggrieved 45. buyer 46. sale by sample 47. concurrent 48. price 49. writing 50. unconditional

1. )

Multiple Choice Questions Contract are formed by (a) Consensus (b) Agency

2.

(c) contract of Agency (d) None

A ______________ is a person employed to do any act for another (or) to represent another in dealing with a third person. ( ) (a) Agent (c) Agency

(

(b) Agreement

(d) None

3. (

No particular form (or) set of words be required for appointment of _______ ) (a) Agreement (c) Agent (b) Proposal (d) None

4.

In some case the extra ordinary conditions the person who is not really an agent should act agent is ________________ ( ) (a) Agency of Holding (c) Agency of Ratification (b) Agency of Necessity (d) None

5.

A person may act on behalf of another without his knowledge and consent is ______________ (

)

6. )

(a) Agency by Ratification (b) Agency of Holding

____________

is a breach of Agency by Stopped.

(a) Agency by Ratification (b) Agency by Holding

7.

(c) Agency of Necessity (d) None

(c) Agency of Necessity (d) None

An agent derives his authority directly from the principal is __________ ( ) (a) Agent of subagent (c) General agent (b) Commission Agent (d) None

8. __________ agent having in the customary course of business as Such agent. ( ) (a) Contractual agent (c) Proceeding agent (b) Mercantile agent (d) None

9. (

The __________ must be in existence at the time of the contract ) (a) Agent (c) principal (b) Agency (d) None

(

10.

___________ must be communicated to the party, who is expected to be bound by the act done by the agent. ( ) (a) Agency (c) mercantile Agent (b) Ratification (d) Conditions

11. )

Ratification should not put a third party to ___________

12. )

_____________ is an agent to both buyers and sellers

(a) Transaction (b) Damage

(a) Agent (b) Auctioneer

(

(c) Agent (d) Conditions

(

(c) Agency (d) Contract

13. )

____________ is available to the unpaid seller

14.

___________________ is a Right that is a compensation to the agent for any loss or injury ( ) (a) Right of lien (c) Right of compensation (b) Right of act (d) None

15.

An agent entitled to retain goods, papers and other property of the principal is ____________________ ( ) (a) Right of Lien (c) Right of Remuneration (b) Right of Compensation (d) None

16.

To pay the agent the commission (or) other remuneration agreed is the duty of _________ ( ) (a) Agent (c) Principal (b) Law (d) principle

(a) Right of stoppage (b) Right of lien

(

(c) Right of Resale (d) None

17.

To indemnify agent for injury caused by principal neglect (or) want of skill is _________ duty ( ) (a) Principal (c) Agent (b) Law (d) None

18. )

__________ denotes a contract resulting from delivery.

19.

_______ means a delivery of goods on condition to redeliver the goods when the condition is satisfied. ( ) (a) Delivery (c) Contract (b) Bailment (d) None

20. )

Dissolution of a company, who’s principal (or) agent is _________

(a) Bailment (c) Contract

(a) Dissolved (c) Bailed

(

(c) Agent (d) None

(

(c) Expired (d) None

21. (

________ is an instrument in writing containing an unconditional order ) (a) Promissory Note (c) Bill of payment (b) Bill of exchange (d) none

22.

_________________ Contain unconditional promise to pay a certain sum of money to the payee. ( ) (a) Promissory Note (c) Bill of payment (b) Bill of exchange (d) none

23. (

)

________ is a bill of exchange drawn on a specific bank, payable on demand (a) Bill of exchange (b) Drawer

(c) Barer (d) cheque

24.

When a cheque bears in addition of the name of the banker is called _________ crossing. ( ) (a) Restrictive (c) General (b) Special (d) None

25.

A cheque is said to be crossed generally when it bears across its face is called ___________ Crossing. (

)

(a) Special (b) General

(c) Restrictive (d) None

KEY 1. a 2. a 3. c 4. b 5. a 6. b 7. a 8. b 9. c 10. b 11. b 12. b 13. b 14. c 15. a 16. c 17. a 18. a 19. b 20. a 21. b 22. a 23. d 24. b 25. b 26) c 27) d 28) a 29) b 30) c 31) a 32) b 33) a 34) b 35) c 36) c 37) a 38) d 39) c 40) c 41) a 42) a 43) c 44) a 45) a 46) d 47) b 48) b 49) a

50) c

UNIT II (Assignment Questions)

1. What is a contract of agency? What are the essentials of relationship of

agency? 2. Explain the nature of a contract of sale of goods and bring out clearly the distinction between a sale and an agreement to sell. 3. Define bailment. Discuss the rights and responsibilities of a paid and a gratuitous bailee. How does a bailment differ from a pledge? 4. Explain clearly the essential features of an instrument, which makes it negotiable. Descriptive Question 1. Indemnity 2. Guarantee 3. Indemnifier 4. Essential features of a contract of guarantee 5. specific guarantee 6. continuing guarantee 7. Bailment 8. Pledge 9. Rights of surety 10. agent 11. Contract for sale 12. Difference between bailment and pledge 13. condition 14. Warranty 15. Caveat Emptor 16. negotiable instrument 17. promissory note 18. cheque 19. bill of exchange 20. Holder in Due course

Unit – III 1. The directors are the ____________of a company. 2. Every public co. shall have at least ______________ directors. 3. ___________ include any person occupying the position of directors by what ever name called. 4. Directors must be appointment by ______________ in general meeting . 5. Every private co. shall have at least ______________directors. 6. _________________ is meeting of directors in every co. 7. A managing directors means a directors who is entrusted with 8. ___________________which would not other wise be exercisable by him. 9. ____________________ is necessary for every appointment in the first instance and for every subsequent appointment. 10. The statutory meeting and an annual general meeting of a co. are called ________________

11. The company has separation of ______________ from management. 12. The company works through the _________________ under a common seal. 13. the object the company desires to achieve or stated in its constitution , which is properly called ______________________ 14. The _______________________contain the rules and regulations relating to internal management of the co.

15. The__________________ is the constitution of the company. 16. The ___________________ is an important meeting for the protection of the shareholders of a company. 17. Holding of AGM (Annual General Meeting) is a __________________ it has to be held even where the company did not function during the year. 18. The affairs of a company are managed by the ___________________ 19. __________ is the minimum number of members of a company whose presence is necessary for the transactions of businesses. 20. The directors cannot proceed with a meeting unless the required ____________ of fully qualified directors is present. 21. The law which governs companies in India at present is _________ act. 22. The Companies act amended in the year_______. 23. Companies were mainly _______ associations. Of Individuals. 24. The Proportion of _______ to which each member is entitled is the share. 25. _______ are always transferable although the sight to transfer them is often more (or) less restricted.

26. _______ Act is considered as the official signature of the company. 27. ________ Company can impose certain restrictions on the transfer of its share.

28. A Company without limited liability is ______ Company.

29. An Unlimited company may (or) may not have______

30. ________ Company must have its own articles of association. 31. A Company which controls another company is called _____ company

32. A Company which is controlled by another company is called ________ company 33. The document inviting deposits from the public is ______ 34. ______ is a window through which an investor can look into the soundness of the company venture. 35. _______ Meetings should be held only once during the lifetime of the company. 36. The directors should sent a statutory report at least ______ day before the Meeting 37. EGM________. 38. AGM___________

39. Under which section of Business Law the Statutory meeting are described _________. 40. A ________ is an artificial person by law. 41. ___________ is a contract by a company outside its objects is wholly void and of no legal effect. 42. __________ Clause indicates the nature of liability “that the members insure. 43. ________ also regulates the external affairs of the company in relation to outsiders.

44. A Company exists only for the purposes as are defined in ________ clause. 45. ________ defines as well as confines the powers of the company. 46. _________ is a company without limited liability. 47. Private company must have its own ______

48. A Company is an ______ person by law.

49. Statutory Meetings should be held only once during the __________________ of the company.

50. _______ is to be fixed by the articles of Association.

KEY:1. 2. 3. 4. 5. 6. 7.

brain 3 Directors shareholders 2 Once in every 3 months substantial powers of management 8. Special resolution 9. Ordinary meetings. 10. ownership 11. authority 12. memorandum of association 13. articles of association 14. memorandum of association 15. annual general meeting 16. Statutory requisition

17. Board of directors 18. Quorum 19. Quorum 20. comptroller & auditor general of India 21. Companies 22. 1956 23. Voluntary 24. Capital 25. Shares 26. Common Seal 27. Private 28. Unlimited 29. Share Capital 30. Private Company 31. Holding Company 32. Subsidiary Company 33. Prospectus 34. Prospectus

35. Statutory Meetings 36. 21 days 37. Extraordinary General Meeting 38. Annual General Meeting 39. Section 165 40. Company 41. Ultra Virus contract 42. Liability Clause

43. Memorandum of Association 44. Object clause 45. Memorandum of Association 46. unlimited 47. articles of association 48. natural 49. lifetime 50. Quorum

Multiple Choice Questions:1. As a consequence of separate corporate personality of a company a. No share holder has insurable interest in the property of the company b. When the majority share holders tie, the company comes to an end c. The nationality of a company does not depend on the nationality of a share d. None of the above 2. A company is a juristic person with a perpetual succession a. As such it never dies b. Its life depends on the life of its members c. It is created by a process of law and can be put to an end only by a process of law d. None of the above 3. A company limited by shares a. Has unlimited liability

b. Exits only in contemplation of law c. Has a perpetual succession d. Comes to an end on a death of all the members 4. The first joint stock companies act in India was passed in a. 1844

b. 1850

c. 1857

d. 1913

5. The companies act 1956 is based on the recommendations of a. Bhabha committee report b. Vi vian bose committee report c. Daphtary – shastry committee report d. Sachar committee report 6. The administration of the company law in India is in the hands of a. The high court b. The company law tribunal c. The state government d. The company law advisory committee 7. Registered companies are the companies which are incorporated a. By a special act of parliament b. Under the companies act 1956 c. By a special act of legislative assembly d. None of the above 8. The RBI is an example of a. Registered company

b. Statutory company

c. Charted company

d. None of the above

9. The private company has a minimum of a. Seven members b. Two members, but maximum no limit c. Two members and maximum fifty d. None of the above 10. The minimum number of persons required to form a public company is a. Two

c. Nine

b. Seven d. Fifty

11. The certificate of incorporation can be disputed on the following ground a. Where all the signatures are miners b. Where signatures to the memorandum are forged c. Where the memorandum is signed by only one person for all the seven subscribers d. None of the above 12. The document required to be filled with the registered at the time of incorporation of the public company includes a. Memorandum of association b. Prospectus c. Statement in lieu of prospectus d. Preminary contracts 13. The charter of a company is a. Articles of association b. Prospectus c. Statement in lieu of prospectus d. Memorandum of association

14. An act is said to be ultra virus of a company when it is beyond the powers a. Of the company b. Of the directors c. Conferred on the company by the articles d. None of the above 15. The altered memorandum must be filled with registed with in a a. One month

b. Two months

c. Three months

d. Four months of the central governments order.

16. If the articles conflict with the memorandum a. The articles shall prevail b. The memorandum shall prevail c. The directors will resolve the conflict d. None of the above

17. Doctrine of constructive notice means a. Notice of alteration of objective clause to the registered b. Notice of change of name to members c. Notice to outsiders dealing with the company d. None of the above 18. The articles of the association of a company are not required to be register in the case of a. An unlimited company b. A company limited by guarantee c. A public company limited by shares

d. None of the above 19. The articles of association of a company can be altered by passing a. A special resolution b. An ordinary resolution c. A resolution with a special notice d. None of the above 20. The under writing commission paid or agreed to be paid must not exceed a. 2% b. 2.5% c. 5% d. 10% 21. Share capital of a company means a. Equity share capital b. Preference share capital c. Equity and preference share capital d. Equity and preference share capital and debentures 22. Right shares means shares which are a. Issued by a newly formed company b. Legally issued to be public c. Offered to existing share holders d. None of the above 23. A company which alters its share capital must give notice of alteration to the register within a. 15 days

b. 21 days

c. 30 days

d. 45 days

24. That portion of the capital of a company which can be called up in the event of winding up of the company is called a. Authorized capital

b. Subscribed capital

c. Uncalled capital

d. Reserve capital

25. The statutory meeting of a public company must be held within a. One year of its incorporation b. Six months of its incorporation c. Six months of its commencement of its business d. A period of not less than one month nor more than six months from the date at which the company is entitled to commencement of business 26. A special resolution must be filed with the register for registration within a. 14 days

b. 21 days

c. 30 days

d. 45 days

27. The statutory meeting is required to be held by a. All companies b. Only private companies c. Only public companies d. None of the above 28. A person cannot hold office as a director simultaneously is more than a. Five companies

c. Twenty companies

b. Ten companies d. Fifty companies

29. _________ is a company without limited liability. [ ] (a) Limited (c) Private (b) Unlimited (d) None 30. An ________ company may (or) may not have share capital

[

]

(a) Unlimited (b) Private

(c) limited (d) None

31. Private company must have its own ______ (a) Liability (c) Articles of Association (b) Memorandum (d) None

[

]

32. Liability clause indicates the _________ that the Members incure. (a) Nature of Business (c) Nature of Assets (b) Nature of Liability (d) None

[

]

33. This defines as well as confines the powers of the company. (a) Memorandum of Association (c) Liability (b) Articles of Documents (d) Goodwill

[

]

34. A company which controls another company is called as ___company [ (a) Subsidiary Company (c) Private Company (b) Holding Company (d) Limited Company.

]

35. A Company which is controlled by another company is called ______ company. (a) Subsidiary Company (c) Public Company [ ] (b) Holding Company (d) Private Company 36. This act is considered as the official signature of the company. (a) Provisional act (c) Prospectus Seal (b) Common Seal (d) None

[

]

37. A Company is an ______ person by law. (a) Supporting (c) Natural (b) Artificial (d) None.

[

]

38. Statutory Meetings should be held only once during the __________________ of the company. [ ] (a) Lifetime (c) Natural (b) Artificial (d) None. 39. Companies act amended in the year________ (a) 1950 (b) 1932

(c) 1956

[ ] (d) 1947

40. A Public limited company must have a minimum paid – up capital of Rs:_____________ [ ] (a) 1,00,000 (b) 50,000 (c) 10,00,000 (d) 5,00,000

41. A Private limited company Must have a minimum paid –up capital of Rs_______ (a) 1,00,000 (b) 50,000 (c) 20,00,000 (d) None 42. Companies resisted under the companies act 1956 are called _______________ companies. (a) Registered Companies (c) Profit Companies (b) Accumulated Companies (d) None.

[

43. _______ is to be fixed by the articles of Association. (a) Quorum (b) Meeting (c) Notice

]

[ ] (d) None.

44. _______ are rules & regulations and by-laws for the of internal management of the affairs of a company. [ ] (a) Memorandum (b) Articles (c) Minutes (d) None. 45. ______ of a company exercise most of their powers at the meetings of the board. [ ] (a) Directors (b) Quorum (c) Prospectus (d) None 46. A public company must have at least______ directors. (a) 3 (b) 2 (c) 4 (d) 5

[

]

47. A private company must have at least _________ directors. (a) 3 (b) 2 (c) 4 (d) 5

[

]

48. The name of public company must end with word________ [ (a) Public (b) Limited (c) Unlimited (d) Public Limited.

]

49.

]

______ Company must end with word “limited”. (a) Private (b) Private limited (c) Public

[ (d) None

50. The name of Private company must end with word______ (a) Public (b) Limited (c) Private

[ ] (d) Private Limited

51. ______ Company must end with word “Private Limited”. (a) Public (b) Private (c) Limited

[ (d) None

]

52. It is a document which invites public to invest their shares in their company is _____________ [ ] (a) Section 100 (b) Section 420 (c) Section 165 (d) None

53. Under this section of Business law the statutory Meetings are described.[ ] (a) Section 100 (b) Section 420 (c) Section 165 (d) None

Key:-

1. A

10. B

2. A

11. D

3. B

12. A

4. B

13. D

5. A

14. A

6. B

15. C

7. B

16. B

8. B

17. C

9. C

18. C

19. A 20. C 21. C 22. C 23. C 24. D 25. D 26. C 27. C 28. C 29. b 30. a 31. c

32. b 33. a 34. b 35. a 36. b 37. b 38. a 39. c 40. b 41. a 42. a 43. a 44. b 45. a 46. a 47. b 48. b 49. c 50. d 51. b 52. c 53. c

Unit -3(assignment questions) 1. Definition of company ? Explain the characteristics of company? 2. classification of companies ? explain the formation of company? 3. explain the law relating to meeting and proceedings of company?

4. define company management? Explain Qualification, Appointment, Power , and Legal Position of Directors? Descriptive Questions:1. define company 2. formation of company 3. memorandum of association 4. articles of association 5. prospectus 6. share holders meeting 7. define board meeting 8. company management 9. Define appointment 10. Define powers 11. legal position of directors 12. Annual general meeting 13. define director 14. types of directors 15. difference between managing director& manager 16. requisites of a valid meeting 17. special resolution 18. define Quorum 19. define company secretary 20. define Board powers UNIT – IV Fill in the Blanks 1.

MRTP ______________________________

2.

The consumer protection act amended in the year ____________

3.

Consumer protection act applies to all ____________ & ___________

4.

CPCB __________________

5.

In ___________ year an act was implemented to control water pollution

7.

_____________ Means any person who buys any goods for a consideration

8.

___________ does not includes a person who obtain goods for resale (or) for any commercial purpose (consumer)

9.

Right to consumer education is comes under _________ act

10.

The ______________ movement in India is as old as trade & commerce.

11.

______________ is likely to dominate the Indian market in the next millennium.

12.

Sec (4) of the _____________ act provides that the central government established a council.

13.

The consumer protection act provides that the central government established a _____________ council.

14.

The right to be protected against the marketing of goods which are hazardous to life and property comes under __________ right

15.

The right to be assured, where ever possible and access to a variety of goods at ___________ prices.

16.

____________ act helps in a systematic movement for safeguarding the Interest of consumers.

17.

“A _____________ is conclusive evidence that all the requirements of the companies act have been complied with”

18. “A certificate of incorporation is conclusive evidence that all the requirements of the _________________ act have been complied with.

19.

The consumer protection act seeks to provide speedy and simple redressal of _________________

20.

According to ____________ sections of the Act provide for establishment and working of different consumer dispute redressal agencies.

21.

The consumer protection act established __________ forum by the state government in each distract of the state by notification.

22.

__________ & ____________ are the two criteria are based on the jurisdiction of the district forum.

23.

The Act provides for establishment of National consumer dispute redressal commission is called ___________________

24. ______________ is not a person who obtains goods for resale or for any commercial purpose.

25. Under _____________ section of the consumer protection act provides for the establishment of state consumer protection councils.

26. ___________________is directed at prohibition and control of certain trade practices

27. Consumer Protection Act is directed at protecting interest of individual _____________

28. Consumer has a right to be protected against marketing of ______________goods and services

29. The Consumer Protection Act was enacted in ------------

30. A consumer is a user of goods and_______________

31. One of the objectives of Consumer Protection Act is the right to _____________

32. The Consumer Protection Act extends to the whole of India except ----------------------

33. Consumer is one who hires or avails of any services for a ----------------34. Consumer Protection Act is a ---------------legislation

35. Consumer Protection Act is expected to provide cheap, simple and ---------------------to common consumers.

36. Complaint means any --------------in writing made by a complainant.

37. The M.R.T.P Act has its genesis in the Directive Principles of State Policy embodied in the ------------------

38. M.R.T.P Act seeks to -----------------concentration of economic power to the common detriment

39. Central Board for prevention and control of pollution is an independent and -----------------body

40. Environmental pollution means the presence in the environment of any environmental ________________

41. The Central Government has powers to ----------------areas in which industry, process or operation shall be carried out

42. Restrictive trade practice is that practice which tends to impose -------------------cost or restrictions on consumer

43. Trade practice hampering free competition is a ---------------------44. ___________________can issue “Cease and Desist” order

Key 1.

Monopoly Restrictive & Trade Practices Act

2.

1986

3.

Goods & Services

4.

Central Pollution control board

5.

1974

6.

Unfair Trade practices

7.

Consumer

8.

Consumer

9.

Consumer protection act

10.

Consumer

11.

Consumerism

12.

Consumer protection act

13.

Consumer protection council

14.

Consumer

15.

Competitive

16.

Consumer protection

17.

Certificate of incorporation

18.

Companies

19.

Consumer disputes

20.

Sec 9 to 27

21.

District forum

22.

Pecuniary & Territorial

23.

National commission

24.

Consumer 25. Section 7 26. M.R.T.P Act 27. consumers 28. hazardous 29. 1986 30. services 31. consumer education 32. Jammu & Kashmir 33. consideration 34. social benefit 35. quick remedy 36. allegation 37. Constitution of India 38. prevent 39. autonomous 40. pollutant 41. restrict 42. unjustified 43. restrictive trade practice 44. M.R.T.P Commission

Multiple Choice: 1.

Which is going to be most dominating Indian market in the coming years ( ) (a) Realism

2.

(b) Consumerism

(c) MRTP

(d) UTP

Under which act the “Right of consumer education comes under”. ( ) (a) MRTP act (b) UTP act (c) Consumer protection act

(d)

UTP act

3.

The central govt established a council of consumer protection act under which section ___________ ( ) (a) Section (7) (b) Section (4) (c) Section (8) (d) Section (19)

4.

UTP ______________ ( ) (a) Unfair trade practice (c) Unpaid trade prices

(b) Uniform trade price (d) none

5.

MRTP ____________ ) (a) Market representative (b) Monopoly restrictive & Trade practices (c) Monopoly Representative trade problems (d) none

6.

This is as old as the trade & commerce in India (a) Consumer

(b) India

(c) MRTP

(

(d) None

7.

The water pollution control act was implemented in the year ____________ ( ) (a) 1947 (b) 1974 (c) 1964 (d) 1991

8.

The consumer protection act provides that the central government established a ______________ council. ( ) (a) Consumer protection council (b) Consumer productions council (c) Consumer products council (d) Company protection council

9.

Pecuniary and territorial are the two criteria based on the jurisdiction of ____________ forum ( ) (a) District Forum (b) National Forum (c) Nominal Forum (d) None

10.

An act which helps in a systematic movement for safeguarding the Interest of consumers is ________________ ( ) (a) Consumer protection act (b) Consumers Forum (c) Consumer equity (d) none

11.

_____ is not a person who obtains goods for resale for any commercial purpose ( ) (a) Producer (b) Marketer (c) Consumer (d) Retailer

12.

The _________ act was implemented in the year 1974 ( ) (a) Water pollution control (b) Monopoly act (c) Partnership act (d) none

13.

Under __________ section of the consumer potation act provides for the establishment of state consumer protection councils ( )

(a) Section (7) Section

(b) Section (8)

(b) Section (9)

(d)

14.

The National consumer dispute redressal commission is called _________ ( ) (a) National consumerism (b) National commission (c) Nation council (d) none

15.

This act protects the consumer Interest and safeguards the systematic movement of consumers ( ) (a) Consumer protection act (b) Consumer promotional act (c) Consumer participative act (d) none

16.

Goods and services are applicable to all __________ acts ( ) (a) Consumption promotions (b) Consumer protection act (c) Consumer promotional acts (d) none

17.

The right to consumer education comes under _________ ( ) (a) Consumer dispute act (b) Consumer legal act (c) Consumer protection act (d) none

18.

The state government in each district of the state by notification established ___________ forum. ( ) (a) National Forum (b) District Form (c) State (d) None

19.

The consumer protection act seeks to provide speedy and simple redressal of ____________ ( ) (a) Consumer acts

(b) Consumer dispute

(c) Consumption

(d) None

20.

In 1986 this act was established ( (a) Consumerism (c) Consumer protection act

21.

) (b) Consumer dispute act (d) none

CPCB ____________ (

) (a) Central Population control board (b) Central Pollution control board (c) Central Public counseling board (d) none

22.

23.

Under which section the Nation commission was established ( ) (a) Section (14) (b) Section (16) (c) Section (21) Section (24)

(d)

Consumer does not include a person who obtains goods for resale (or) for any ________ purpose ( ) (a) Commercial (b) Industrial (c) Personal (d)

None 24.

This is considers as the most dominating instrument in Indian Market ) (a) Global Markets (b) Consumerism (c) Personnel (d) None

25.

Under the section ______ the consumer dispute redressal agencies comes under ( ) (A) Section (14) to (21) (b) Section (9) to (27) (c) Section (11) to (32) (d) Section (12) to (15)

26. The Consumer Protection Act gives consumers the rights to be ( a) informed c) assured b) protected d) all the above

)

27. Consumer means a person who

)

(

(

a) buys goods for consideration b) avails of services for consideration

c) both a) and b) d) neither a) nor b)

28. Environmental pollutant can be a) solid c) liquid b) gas d) all the above

(

)

29. Central Government has the powers relating to industry with respect to ( ) a) closure c) prohibition b) regulation d) all the above

30. The objects of Air (Prevention and Control of Pollution) Act, 1981 is ( ) a) prevention and control of air pollution c) both a) and b) b) preservation of quality of air d) none of the above

31. Air pollutant includes a) solid b) gas

( ) c) noise d) all the above

32. The objective of M.R.T.P Act are prohibition of ( a) monopolistic trade practices c) restrictive trade practices b) unfair trade practices d) all the above

)

33) A provisions of M.R.T.P Act are in addition to and not in derogation of any other law to enforce ( ) a) false c) both a) and b) b) true d) none of the above

34) Imparting Education through tutorial institutions is ( a) a trade practice c) not a trade practice b) is a mission d) both b) and c) . 35. MRTP Act gives detailed provisions relating to restrictive trade practices with respect to ( )

)

a) registeration b) control

c) both a) and b) d) none of the above

36. Trade practice hampering free competition is ( ) a) a free trade practice c) both a) and b) b) a restrictive trade practice d) none of the above

37) Restrictive trade practice imposes ( a) unjustified cost on consumers b) justified costs on consumers

) c) neither d) either

38. A restrictive trade practice means a trade practice that has effect of which of the following on competition ( ) a) preventing c) restricting b) distorting d) all the above

39. For Monopolistic trade practice the emphasis on the effect rather than the practice itself ( ) a) true C) false b) both a and c) d) none

40. The sovereign functions of the Government like police, defense etc is within the jurisdiction of MRTP Act ( ) a) false c) either b) true d) neither

Key 1. 2. 3. 4. 5.

b c b a b

6. a 7. b 8. a 9. a 10. a 11. c 12. a 13. a 14. b 15. a 16. b 17. c 18. b 19. b 20. c 21. b 22. a 23. a 24. b 25. b 26. d 27. c 28. d 29. d 30. c 31. d 32. d 33. b 34. d 35. c 36. b 37. a 38. d 39. a 40. a UNIT IV (ASSIGNMENT QUESTIONS) 1. What are the objectives of Consumer Protection Act, 1986 2. Write a note on the Consumer Disputes Redressal Agencies 3. Discuss the constitution and Powers of the MRTP Commission 4. Explain and illustrate restrictive trade practices. What is the procedure for the registration of agreement relating to restrictive trade practice under the MRTP Act, 1969? Descriptive Questions: 1. Consumer Protection Act 2. Objectives of Consumer Protection Act 3. Consumer 4. goods 5. unfair trade practice 6. environmental pollutant

7. powers of central government under Environment Act 8. MRTP Act 9. Objecives of MRTP Act 10. Monopolistic trade practices 11.Restrictive trade practices 12. powers of MRTP Commission

UNIT – V Fill in the blanks 1.

__________ Act is a substantial justice within limits of the law

2. __________ means any arbitration, weather (or) not administered by an arbitrator appointed specially for settlement of particular dispute. 3. _____________ is an instrument for settlement of disputes worldwide. 4. Like ‘Arbitration’, ____________ is also getting increasing world wide recognition as an instrument for settlement of disputes.

5. The UNCITRAL adopted the rules of conciliations in the year _________ 6. To _________ the supervisory role of courts in the arbitral process

7.

The _____________ Agreement must be in written through it need not be contained in a formal document

8. An arbitrator party fails to appoint an arbitrator with in _____________ days. 9. Under _____________ sections the “Arbitration” deals with

10.

Under _____________ Sections “Foreign awards” deals with

11.

Under _________ sections “Conciliation” deals.

12. Under ___________ sections “supplement provisions deals with 13. Abortion and conciliations was came into force in the year ______________ 14. An _________ agreement is not required to be in any particular form

15.

If a ____________ containing arbitration clause come to an end owning to prostration

16.

A person who is appointed to determine difference and disputes between two (or) more parties their mutual consent is called __________________

17. The parties may appoint whomsoever they please to arbitrate on their _________ 18. A person of an ___________ may be an arbitrator, unless otherwise agreed by the parties. 19. The parties are free to agree on a procedure for appointing the ____________

20. _________ means a person who in law represents the estate of a deceased person. 21.

_________ Means the person on whom the estate devolves on the death of the party so acting.

22.

__________ proceedings shall commence when the other party accepts in writing the invitation to conciliate.

23.

_________ means every kind of movable property other than actionable claims and money. 24.

__________ means directly (or) indirectly acquiring (or) agreeing to acquire.

26. A __________ is a distinctive sign which is used to distinguish the products (or) service of different business. 26. Arbitration is termed as Alternate Dispute Redressal mechanism

27. Arbitration is expected to relieve burden on judiciary.

28. Indian Council of Arbitration is registered under Societies Registration Act

29. International Court of Arbitration is located in Paris

30. Arbitrator has no powers to issue summons

31. In conciliation proceedings there is no agreement for arbitration

32. The conciliator brings the parties together.

33. The conciliator helps parties in arriving at mutually accepted settlement

34. Unless there is written acceptance, conciliation cannot commence

35. If other party does not reply within 30 days, the offer for conciliation can be treated as rejected

36. Arbitration is a mode of settlement of dispute

37. Arbitration is a quasi-judicial method of settling disputes of a civil nature 38. Parties to an arbitration agreement must have capacity to enter into a contract

39. The authority of the arbitrator is limited to the matters lawfully submitted to him

40. The extent of powers and the nature of the duties depend on the terms of the arbitration agreement

41. All matters in dispute relating to disputes of civil nature and quasi-civil nature may be referred to arbitration

42. The assistance of the court is taken for the enforcement of the arbitration award.

Key 1. Arbitration act 2. Arbitration 3. Arbitration 4. Conciliation 5. 1980 6. Minimize 7. Arbitration Agreement 8. 30 days 9. Sec 2 to 43 10. Sec 44 to 52 11. Sec 53 to 81 12. Sec 82 to 85 13. 25th Jan, 1996 14. Arbitration 15. Contract 16. Arbitrator 17. Disputes 18. Nationality 19. Arbitrator 20. Legal Representative 21. Legal Representative 22. Conciliation 23. Goods 24. Acquisition 25. Trade Mark 26. Alternate Dispute Redressal 27. Arbitration 28. Societies Registration Act 29. Paris 30. Summons 31. arbitration 32. conciliator 33. mutually accepted 34. written 35. rejected 36. dispute 37. civil nature 38. capacity 39. limited 40. arbitration

41. arbitration 42 court

Multiple choices 1.

___________ is an aspect of state government and it refers to Judicial legislative and admistration competence. ( ) (a) Jurisdiction (b) sovereignty (c) Competence (d) None

2.

A _____________ is a distinctive sign which is used to distinguish the products (or) services ( ) (a) Market (b) Trade Mark (c) Contract (d) None

3.

Patents, Trademarks are collectively known as _____________ ( (a) Industrial property (b) Trade agreements (c) Trade secrets

)

4.

WTO ___________ (a) Wealth Trade Objective (b) World Trade Organization (c) World Transport organization (d) None

)

5.

UNO __________ (a) United Nations Organization (b) Unit Nations Organization (c) Union Nations Organization (d) None

6.

A _____________ rights license is a declaration not to do some things under centair condition (a) Contract (b) Patent (c) Trade Mark (d) none

7.

IPC _______________ (a) Indian Public Corporation (b) Indian Penal Court (c) Industrial Penal Court

(d) None

(

(

(

)

)

(d) None 8.

An alternate terms monopolies on information and _________ monopoly ( ) (a) Competence (b) Disputes (c) Intellectual (d) None

9.

__________ position means a position of strength enjoyed by an enterprise, in the relevant market in India ( ) (a) Contract (b) Disputes (c) Dominant (d) Weakest

10. ____________ law is a term us describe the legal issued Related to communication technology ( ) (a) Cyber law (b) Jurisdiction (c) Agreement Law (d) None 11.

12.

Sections of ‘Arbitration’ is _________ ( ) (a) Sec 2 to 43 (b) Sec 44 to 52 (c) Sec 53 to 81

(d) None

Sections of ‘Foreign awards _____________ ( ) (a) Sec 2 to 43 (b) Sec 44 to 52 (c) Sec 53 to 81

(d) None

13.

This can be directly (or) indirectly acquiring (or) agreeing to acquire ( (a) Merger (b) Acquisition (c) Expansion (d) None

14.

It is an art of a substantial justice with in limits of the law ( (a) Arbitration (b) Conciliation (c) Minimize

15.

16.

)

) (d) None

“Conciliation” deals under section _____( ) (a) Sec 53 to 81 (b) Sec 4 to 37 (c) Sec 81 to 87

(d) None

Supplement provision deals under sec ____ ( ) (a) Sec 53 to 81 (b) Sec 82 to 85 (c) Sec 86 to 93

(d) Sec 94 to 111

17.

__________ is a agreement is not required to be any particular form ( (a) Agreement (b) Contract (c) Arbitration (d) None

)

18.

Parties which are free to agree on a procedure for apportion of ________ ( (a) Legislator (b) Arbitrator (c) Counselor (d) None

)

19.

A _______________ containing an arbitration clause come to an end owning to Frustration ( ) (a) Agreement (b) Contract (c) Arbitration (d) None

20. _________ is considered as a period who represents the law ( ) (a) Legal person (b) Legal Representation (c) Legal Anticipator (d) None

21. The parties may appoint whom so ever they please to arbitrate on their ( ) (a) Agreements (b) Dispute (c) Contracts (d) None 22.

________ any agreement on a procedure, in an arbitration with three arbitrators (a) Promoting (b) Representing (c) Failing (d) None

23.

The failure appoints will be made by this person ( ) (a) Arbitrator (b) Chief Justice (c) Processor

(d) None

24.

One of the parties to the dispute may also be appointed as __________ ( (a) Chief Justice (b) Arbitrator (c) Collector (d) None

25.

________ Means an authorisatization to act given to an arbitrator ( ) (a) Arbitrator (b) Mandate (c) Mandatory (d) None

Key 1. a 2. b 3. a 4. b 5. a 6. b 7. b 8. c 9. c 10. a 11. a 12. b

)

13. b 14. a 15. a 16. b 17. c 18. b 19. b 20. b 21. b 22. c 23. b 24. b 25. b Unit V Assignment Questions 1. What is arbitration? State the advantages of arbitration 2. What is arbitration agreement? What are its essential attributes? 3. What is conciliation? What are its benefits? 4. What is the role of the conciliator in settling disputes? Descriptive Questions: 1. arbitration 2. conciliation 3. advantages of arbitration 4. domestic arbitration’ 5. arbitration agreement 6. termination of arbitrator 7. Conciliation 8. cost of conciliation 9. ADR 10. Role of conciliator 11. Competition law 12. cyber laws 13. intellectual property rights