Statement (1): In a gratuitous bailment, the bailor is liable to disclose all the faults whether known to him or not
Statement (2): In a non-gratuitous bailment, the bailor is liable to disclose only such faults which are known to
him.
Correct
Incorrect
Question 2 of 30
2. Question
1 points
Category: Corporate and Other Laws
If the bailee does any act inconsistent with the terms and conditions of the contract, the bailment become
_________.
Correct
Incorrect
Question 3 of 30
3. Question
1 points
Category: Corporate and Other Laws
Statement (1): If the bailee makes any inconsistent use of goods, the bailment becomes void.
Statement (2): If the bailee makes any inconsistent use of goods, the bailee shall be liable for any loss or damage
except such loss as is caused due to an act of god or other unavoidable reasons.
Correct
Incorrect
Question 4 of 30
4. Question
1 points
Category: Corporate and Other Laws
If the bailment is _________ and __________, the bailor may compel the bailee to return the goods before
expiry of the period of bailment but the bailor shall indemnify the bailee for any loss incurred by the bailee.
Correct
Incorrect
Question 5 of 30
5. Question
1 points
Category: Corporate and Other Laws
In case there are 2 or more joint owners of the goods, the bailee has to deliver them back to __________, in
the absence of any agreement to the contrary.
Correct
Incorrect
Question 6 of 30
6. Question
1 points
Category: Corporate and Other Laws
If the true owner does not pay to the finder of goods and expenses incurred by the finder of goods for finding the
true owner and preserving the goods, the finder of goods has the right to __________
Correct
Incorrect
Question 7 of 30
7. Question
1 points
Category: Corporate and Other Laws
If the true owner does not pay to the finder of goods the reward declared by the true owner for finding the goods,
the finder of goods has the right to ________
Correct
Incorrect
Question 8 of 30
8. Question
1 points
Category: Corporate and Other Laws
If the true owner refuses to pay the lawful expenses incurred by the finder of goods, the finder of goods has the
right to sell the goods if the goods are in danger of perishing or losing a greater part of its value __________
the lawful charges of the finder, in respect of the goods found, amount to __________ of value of goods
Correct
Incorrect
Question 9 of 30
9. Question
1 points
Category: Corporate and Other Laws
The bailment of goods as security for __________ is called ‘pledge’
Correct
Incorrect
Question 10 of 30
10. Question
1 points
Category: Corporate and Other Laws
In case of default by the pawnor to pay the debt or perform his promise, the pawnor has the right to sell the
goods after giving _________ to the pawnor
Correct
Incorrect
Question 11 of 30
11. Question
1 points
Category: Corporate and Other Laws
Where a person pledges the goods in which he has only a limited interest, the pledge is __________
Correct
Incorrect
Question 12 of 30
12. Question
1 points
Category: Corporate and Other Laws
An ‘agent’ is a person employed to _________
Correct
Incorrect
Question 13 of 30
13. Question
1 points
Category: Corporate and Other Laws
Any person may employ an agent if _________
Correct
Incorrect
Question 14 of 30
14. Question
1 points
Category: Corporate and Other Laws
A minor or a person of unsound mind __________
Correct
Incorrect
Question 15 of 30
15. Question
1 points
Category: Corporate and Other Laws
An agent is not liable to the principal if ___________.
Correct
Incorrect
Question 16 of 30
16. Question
1 points
Category: Corporate and Other Laws
In a contract of agency, __________
Correct
Incorrect
Question 17 of 30
17. Question
1 points
Category: Corporate and Other Laws
__________ is a person employed by, and acting under the control of, the original agent in the business of the
agency.
Correct
Incorrect
Question 18 of 30
18. Question
1 points
Category: Corporate and Other Laws
A substituted agent acts on behalf of the ___________
Correct
Incorrect
Question 19 of 30
19. Question
1 points
Category: Corporate and Other Laws
A substituted agent is appointed by ___________ to act on behalf of __________
Correct
Incorrect
Question 20 of 30
20. Question
1 points
Category: Corporate and Other Laws
Where a part of transaction is ratified, _________
Correct
Incorrect
Question 21 of 30
21. Question
1 points
Category: Corporate and Other Laws
Agency coupled with interest _________
Correct
Incorrect
Question 22 of 30
22. Question
1 points
Category: Corporate and Other Laws
When agency is created for securing some benefit to the agent __________ his remuneration as an agent, it is
called as agency coupled with interest
Correct
Incorrect
Question 23 of 30
23. Question
1 points
Category: Corporate and Other Laws
Agency coupled with interest does not terminate by reason of __________
Correct
Incorrect
Question 24 of 30
24. Question
1 points
Category: Corporate and Other Laws
It is the duty of the agent to protect and preserve the interest on behalf of the principal’s representative in case
of __________
Correct
Incorrect
Question 25 of 30
25. Question
1 points
Category: Corporate and Other Laws
If the remuneration is not fixed, then he has ___________
Correct
Incorrect
Question 26 of 30
26. Question
1 points
Category: Corporate and Other Laws
If an agent acts for sale or purchase of goods for a principal resident abroad, _________
Correct
Incorrect
Question 27 of 30
27. Question
1 points
Category: Corporate and Other Laws
A Contract is called as a ‘contract of indemnity’ if one party promises to save the other from loss caused to him
by __________
Correct
Incorrect
Question 28 of 30
28. Question
1 points
Category: Corporate and Other Laws
There are __________ parties in a contract of indemnity
Correct
Incorrect
Question 29 of 30
29. Question
1 points
Category: Corporate and Other Laws
The party who gives indemnity is called as _________
Correct
Incorrect
Question 30 of 30
30. Question
1 points
Category: Corporate and Other Laws
The party to whom indemnity is given is called as __________
Correct
Incorrect
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