List of top Commerce Questions on Business Law

Explain in detail the essential elements of Contract of Sale.

What is your opinion about Unpaid seller?

A company can buy-back its own shares or other specified securities by the following methods except:

The reasons which transform a valid contract into a void contract are given in List-I while the example of each reason is given in List-II. Match List-I with List-II:

List-I (Reasons)	List-II (Examples)
(A) Contract contingent on marriage	(I) A and B contract to marry each other. Before the marriage, A goes mad.
(B) Repudiation of a voidable contract	(II) A agrees to sell B 100 bags of wheat. Before delivery, the government bans private trading.
(C) Supervening impossibility	(III) A contracts to give a loan if B marries C. C dies unmarried.
(D) Subsequent illegality	(IV) A forces B to sell his car worth 15,00,000 for 5,00,000. B rescinds the contract.

Choose the correct answer from the options given below:

According to the Sale of Goods Act (Section 9), modes of fixing the price by one or the other are:
(A) It may be expressly fixed by the contract itself.
(B) If the price is not capable of being determined in accordance with any of the other modes, the buyer is bound to pay the seller price of his own choice.
(C) It may be determined by the course of dealings between the parties.
(D) It may be fixed in accordance with an agreed manner provided by the contract.
Choose the correct answer from the options given below:

At how many levels are consumer protection councils established?

The provisions concerning the company auditor are contained in sections 224 to 233B of the Companies Act. Match List-I (Section) with List-II (Dealing with matters):

List-I: Sections	List-II: Matters
(A) Sec. 227	(I) Right of auditor to attend general meetings
(B) Sec. 226	(II) Reading and inspection of auditor’s report
(C) Sec. 231	(III) Qualifications and disqualifications of auditors
(D) Sec. 230	(IV) Powers and duties of auditors

A company can remove a director before the expiry of the period of his office by passing:

Where the title in shares of a company is in dispute, the matter has to be resolved by:

Any general meeting held between two annual general meetings will be called:

Out of the following statements, which one is incorrect as regards the Director Identification Number (DIN)?