Business Law MCQs and Notes

V

Vinay • 28.75K Points
Instructor II

Q 1. The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to

(A) The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof

(B) The payment by a bank on a negotiable instrument after due verification of the instrument

(C) The bargaining between the parties to a negotiable instrument

(D) All of the above.

R

Rakesh Kumar • 28.44K Points
Instructor II

Q 2. As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the

(A) Merchantability.

(B) Wholesomeness.

(C) Quality or fitness for buyer's purpose.

(D) None of these.

R

Rakesh Kumar • 28.44K Points
Instructor II

Q 3. Where the goods are sold by description, there is an implied condition that the goods shall

(A) Be fit for buyer's purpose

(B) Free from any defects

(C) Correspond with the description

(D) Free form any encumbrance

V

Vinay • 28.75K Points
Instructor II

Q 4. A sold a stolen car to B which was subsequently recovered by the police form B's possession and he (B) was forced to return the same to the true owner. Here, there is breach of implied condition as to

(A) Merchantability

(B) Fitness for buyer's purpose

(C) Title

(D) None of these