Mercantile Law 2008 - Solved MCQs NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc. Set 2
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(xi) Can a minor be:
(a) Admitted as partner in a firm
(b) Admitted to the benefits of partnerships
(c) Admitted as a sleeping partner
(d) None of these
Answer: ()
(xii) Transfer of property means:
(a) Delivery of goods
(b) Transfer of possession
(c) Transfer of ownership
(d) None of these
Answer: ()
(xiii) Caveat Emptor rule means:
(a) Employer beware
(b) Seller beware
(c) Creditor beware
(d) None of these
Answer: ()
(xiv) A liquidator is a person:
(a) Who is chairman of Board of Directors
(b) Promoter of a company
(c) Who winds-up a company
(d) None of these
Answer: ()
(xv) Which one of the following clauses is considered vital in a memorandum of association of a
public company:
(a) Name clause
(b) Object clause
(c) Capital clause
(d) None of these
Answer: ()
(xvi) A subsidiary company means
(a) A supporting company
(b) A non-entity
(c) An unregistered company
(d) None of these
Answer: ()
(xvii) Which of the following actions an unpaid seller cannot take against a buyer:
(a) Exercise the right of lien
(b) Stoppage of goods in transit
(c) Sale
(d) None of these
Answer: ()
(xviii) X draws a gun and asks Y to sign an agreement. This is:
(a) Persuasion
(b) Coercion
(c) Undue influence
(d) None of these
Answer: ()
(xix) X is involved in some business; he transfers his share without the consent of all its
members. He is working in:
(a) A company
(b) A firm
Answer: ()