Iibm - Business Law

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Business Law

Q1. A condition cannot be treated as warranty in the following circumstances and waiver is implied:

a. Where the buyer waives a condition or elects to treat the breach of warranty.

b. Where a contract of sale is not severable and the buyer has accepted the goods or part thereof.

c. The breach of any condition to be fulfilled by the seller can only be treated as a breach of warranty, unless provided for otherwise in the contract.

d. Obstructs or prevents the other party from fulfilling his part of promise.

e. All of the above.

Q2. Which of the following statements is correct?

a. An agreement with or by the minor is void and inoperative.

b. A contract entered by the guardian for the beneficiary of a minor is not valid.

c. A minor by misrepresenting his age can enter into a valid contract.

d. A minor can create contractual obligations as a partner.

e. A minor can ratify all invalid acts as valid on attaining majority at any time.

Q3. Which of the following will amount to material alteration of a cheque?

a. When the holder crosses an uncrossed cheque.

b. When the holder converts general crossing into special crossing by adding the name of the banker on he face of the cheque.

c. When the holder converts special crossing into general crossing by erasing the name of the banker in the cheque.

d. When the holder adds the word “Not negotiable.”

e. When a banker crosses an uncrossed cheque or converts a general or special crossing to another banker or to himself.

Q4. The right of transfer may be denied in case of private companies as?

a. The company may not refuse to register the transfer or transmission by operation of law.

b. The company may not refuse to register the transfer by virtue of power conferred on it by the articles...