Question

The relationship of partnership arises from:

(A) A contract

(B) Status

(C) Operation of law

(D) Inheritance

10. A contract which does not arise from any agreement of parties concerned but is imposed by law is called

(A) Contingent contract

(B) Quasi-contract

(C) Performance of contract

(D) Breach of contract

11. Where a stipulation in a contract is essential to the main purpose of the contract, it is called :

(A) condition

(B) warranty

(C) Condition or warranty

(D) None of the above

12. In an agreement to sell, the property in goods transfers from the seller to the buyer:

(A) Immediately on entering into the agreement

(B) Upon completion of certain conditions in the agreement

(C) Upon registering or adequately stamping the agreement

(D) None of the above

13. Passing of property implies……………..

(A) Passing of asset

(B) Passing of consideration

(C) Passing of ownership

(D) All of the above

14. Caveat emptor means

(A) Let the seller beware

(B) Let the seller sue

(C) Let the buyer sue

(D) Let the buyer beware

15. An unpaid seller has one of the following rights against the goods when the property in the goods has

passed to the buyer

(A) Right of Lien

(B) Right of resale

(C) Right of stoppage in transit

(D) All of the above

16. An agency relationship can be established by:

(A) Express agreement

(B) Implied agreement

(C) By necessity and ratification

(D) All of the above

17. A bailment without any reward or consideration is called………..

(A) Gratuitous bailment

(B) Non-gratuitous bailment

(C) Both(a) and (b)

(D) None of the above​

Answer 1

Answer:

1) C

2) D

3)B

4)A

5)B

6)A

7)C

8)C