Mercantile Law CE-2000
COMPULSORY QUESTION
8. Write only the correct answers in the Answer Book. Don’t reproduce the questions.
(1) Payment can be made on a Bill of Exchange to:
(b) Only to a person specified therein
(2) How a cheque is treated by a banker among the following when the balance at credit of drawer is found insufficient"
(a) Be dishonored.
(3) 'Accommodation Party’ is a person who has signed a negotiable instrument:
(b) Without receiving the value thereof.
(4) Which of the following is correct:
(a) A Provincial Government can constitute a Corporate Law Authority.
(5) Which of the following is correct:
(c) None of these.
(6) Good will:
(a) can be sold separately from other property of a firm.
(7.) When undue influence is used in a contract by one party against the other, the contract becomes:
(b) voidable
(8) Which of the following is correct:
(b) cannot mix
(9) Pledgor or Pawnor are:
(a) same persons
(10) The principal must ratify the contract:
(a) as a whole
(11) A dormant partner is one:
(b) whose name does not appear in any way as partner.
(12) Caveat Emptor means:
(c) The buyer should be aware of the suitability of goods for his purpose.
(13) If the seller of immovable property has effected a fire insurance policy in respect of the property, the purchaser, of the property:
(a) cannot claim any benefit of it.
(14) The delivery of the insurance policy to the assured is:
(a) essential to make binding contract.
(15) The grace period for every instrument payable at a specified period after date or after sight is:
(c) 3 days.
(16) Special Resolution is passed at a general meeting of a Public Company when not less than the following notice has been given:
(b) 15 days notice
(17) One of the special privileges of a Private Limited Company is that:
(a) there is restriction on the right of members to transfer their shares. (By the way this is not a privilege rather a disadvantage)
(18) A company shall be eligible for registration as a Modaraba Company if its paid-up capital is not less than:
(c) 2.5 million rupees.
(19) A and B are partners. A buys land with partnership moneys for his sole benefit. Thereafter, A debits himself in the firm books and becomes a debtor to the firm for the amount of the purchase money. The purchased property is:
(b) not partnership property.
(20) Whether a partner has got power to assign his partnership interest to any other person so as to make him a partner in the business?
(b) No
Note: Please suggest ammendments if you find any wrong answer in this list.
Regards