Vinay Bl..

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

True/False Question

The Holder in due course has the right to sue on the Negotiable Instrument in his own name for recovering the amount. Correct Answer True Your Answer

False

Multiple Choice Multiple Answer Question Following are the conditions needed to prove an act of a partner is an act of a partnership firm Correct Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm Your Answer such a act be done in a ordinary course of a partnership firm , it must be related to the business of the firm , act must have been done in the name and on behalf of the firm Multiple Choice Multiple Answer Question Following are the elements which constitute a partnership Correct Answer there must be a contract regarding a partnership , there must be an association of two or more persons Your Answer the main object of carry on the business must be sharing of liabilities , there must be an association of two or more persons True/False Question

Directors are allowed to borrow from the public companies.

Correct Answer False Your Answer

False

True/False Question

Under the Consumer Protection Act of 1986, goods include actionable claim and money. Correct Answer False Your Answer

False

True/False Question

A Promissory Note contains conditional undertaking to pay a certain sum of money. Correct Answer False Your Answer

True

Select The Blank Question The person who buys the goods for trading purposes is not a ________ under the Consumer Protection Act, 1986.