8. Write only the correct answer in the Answer Book. Do not reproduce the questions.

(1) A proposes, by a letter sent by post, to sell his house to B. The acceptance of the proposal is complete:
(b) the moment the letter is received by B.



(2) In order to convert a proposal into a promise, the acceptance must be:
(b) Unconditional


(3) A voidable contract may be turned by the option of the party at a loss into:
(b) A valid contract


(4) The maximum number of members in a private company is:
(b) 50


(5) The maximum number of partners in a firm is:
(c) None of these


(6) The Companies Ordinance, 1984:
(c) None of these


(7) A Company is subsidiary of another Company:
(a) If the other company holds more than 50% of its voting shares


(8) P appoints A as his agent. A is not a person of full age:
(b) The appointment of A is valid


(9) Statutory meeting of a Company is held:
(a) Once in a life time of the Company


(10) Publication of Prospectus is compulsory by:
(a) A Private Company


(11) Award is a decision given by:
(b) An arbitrator


(12) A lends some ornaments to B to be used in a marriage. The transaction is:
(a) A bailment


(13) A partner may be expelled from a partnership by:
(a) A majority of partners


(14) Third Party Insurance is an Insurance Relating to:
(c) None of these


(15) A Bill of Exchange has:
(b) Three parties


(16) A minor:
(a) Can make, draw, accept, or indorse a negotiable instrument


(17) A void as well as an illegal contract is:
(b) Not familiar in effect


(18) In the Companies Ordinance, 1984, there are:
(a) Kinds of shares


(19) Like a cheque, a bill of exchange may be:
(b) Cannot be crossed
("Like" should not be used rather "unlike")


(20) An executor consideration takes the form of:
(a) A promise to be performed in future




Note: Rectification will be appreciated.




Regards