Question 1
In Agency agreement,
a) the Principal should be a major b) the Agent should be a major
c) anyone can be a minor d) both should be major
Answer : a) the Principal should be a major
Question 2
In Sale of Goods Act “quiet possession” means
a) Buyer will get protection b) Seller will not make noise
c) Buyer will remain quiet d) Buyer will possess and enjoy.
Answer : d) Buyer will possess and enjoy.
Question 3
The income earned on a Debenture is
a) dividend b) interest c) discount d) incentive
Answer : a) dividend
Question 4
The bank receives the following four cheques through clearing. Which one of them is deemed to be a Crossed Cheque?
a) On the top of the cheque the words, “Crossed Cheque” are written without any other marking.
b) Two parallel transverse lines are drawn on the face of the cheque.
c) On the back of the cheque two parallel transverse lines are drawn.
d) A big “X” mark is made on the top of the cheque without any other marks.
Answer : b) Two parallel transverse lines are drawn on the face of the cheque.
