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Business Law Practice Test Questions
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Avg score: 41% • Most missed: “What is the purpose behind the enactment of Sale of Goods Act, 1930?”

Business, aka Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law. (Source: Wikipedia)

Business Law Practice Test Questions
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25 Questions

1. A public company must have at least————- directors whereas a private company must have at least ——————-
2. Which of the following is not the right of an unpaid seller under Sale of Goods Act, 1930:
3. Future goods means goods to be manufactured or produced or acquired by the seller
4. Which documents contains the regulations relating to the internal management of a
5. An agreement enforceable by law is
6. Which is not the correct statement ?
7. Memorandum of Association does not include.
8. When an instrument is lost, it is presumed that it was duly stamped
9. What is the purpose behind the enactment of Sale of Goods Act, 1930?
10. In a contract of indemnity the right of the indemnifier is similar to that of the:
11. Which one of the following element is not necessary for a contract ?
12. Protest for better security is done for publicity stunt.
13. In a standardized contract :
14. Who can endorse the negotiable
15. Holder in due course means any person-
16. Which of the following cannot be said to be included in the term “goods” defined under section 2(7) of the Sale of Goods
17. An agreement becomes a contract if :
18. The registered office clause of memorandum of association contains
19. What are the limits of number of members in a Private Company?
20. In a contract of indemnity, minimum no of parties are
21. Quorum for general meeting for private and public companies.
22. Which of the following is not a negotiable instrument
23. The sale of goods act is of:
24. Features of Negotiable instruments are -
25. Every promise and every set of promises, forming the consideration for each other is an

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