Mercantile Law 2011-Solved MCQs Competitive Exams Set 2

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11. In which of the following an arbitration is not discharged by the death of party.

A. voluntary

b. statutory

c. contractual

d. none of these

Answer: (c)

12. The assent of arbitrator by court is:

A. optional

b. not required

c. necessary

d. none of these

Answer: (c)

13. The number of arbitration act, 1940 is:

A. 11

b. 15

c. 20

d. none of these

Answer: (b)

14. Natures of misconduct justifying removal of arbitrator should be:

A. Legal

b. moral

c. procedural

d. none of these

Answer: (c)

15. suit by unregistered firm against third party is :

A. maintainable.

B. barred

c. permissible

d. none of these

Answer: (a)

16. The partnership is:

A. juristic person

b. juridical person

c. natural person

d. none of these

Answer: (a)

17. The firm and firm name are:

A. synonymous

b. interchangeable.

c. differe nt terms.

d. none of these

Answer: (d)

18. The maker of the promissory note is liable as:

A. principal debtor

b. principal creditor

c. undischarged surety

d. none of these

Answer: (a)

19. valid presentation of a cheque is within six months from:

A. the date is drawn

b. date of last correection

c. date of delivery

d. none of these

Answer: (a)

20. an exception to “No one can transfer what he does not have”:

A. registered gift

b. will

c. estoppel by owner

d. none of these

Answer: (c)

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