Business Law in Business Management : Practice MCQ Questions & Answers with Explanations

The Central Council shall convene at least...........meeting every year.

Surety for his possible loss can make..........for total debt or its part.

Revocation of guarantee can be done by

Registered office of the company should be verified and such verification should be sent to registrar within.......Days of incorporation.

Private Companies raises its funds (Capital) through issue of prospectus by inviting public for Subscription. True or False

Person Named in the instrument to whom money is directed to be paid is known as

Partnership firm is separate legal entity from its partners. True or False.

Negotiable Instrument is always given in lieu of valuable

Minimum number of members in case of Public Company?

Minimum number of directors in case of a Public Company is

Memorandum of Association regulates the relationship with which parties?

Maximum number of members in case of Private Company?

In which of the following circumstances surety will be discharged from his responsibility?

In contract of guarantee, the liability of surety will arise

In case of contract of indemnity, the liability of promiser is of.............Nature.

In case of Bailment, Delivery of Goods will be done...............Purpose.

In a contract of guarantee there are...........parties.

If the Loss occurs because of an accident and not in the manner stated in the contract, Compensation must be paid by Indemnifier. The Given Statement is

If Surety remains silent after informing him about the changes in the terms of contract of guarantee is said

If principal debtor is adjudged insolvent as per law, the surety...........be discharged from its liability.