Legal Aspects of Business Scanner 2021 November Shift I

1. A claim for ‘quantum meruit’ cannot succeed:
   (a) When a divisible contract is partly performed.
   (b) When an indivisible contract for a lumpsum is partly performed.
   (c) When a contract is discovered to be unenforceable due to some technical defect.
   (d) In the case of breach of contract, the aggrieved party can claim reasonable compensation for what he has done under the contract.
2. Match the List I with List II :
   List I
   (A) Ordinary damages
   (B) Special damages
   (C) Exemplary damages
   (D) Nominal damages
   List II
   (I) Never granted by way of compensation for the loss.
   (II) They are quite heavy in amount and are awarded by way of punishment only.
   (III) Arise in the ordinary course of events from the breach of contract
   (IV) The constitute indirect loss suffered by the aggrieved party on account of breach of contract.
   Choose the correct answer from the options given below:
   (a) (A)- (III), (B) – (IV), (C)- (II), (D) – (I)
   (b) (A)- (IV), (B) – (III), (C)- (II), (D) – (I)
   (c) (A)- (I), (B) – (II), (C)- (IV), (D) – (III)
   (d) (A)- (II), (B) – (I), (C)- (III), (D) – (IV)
3. Which one of the following conditions does not constitute a valid agency by necessity?
   (a) There should have been actual and definite commercial necessity for the agent to act promptly.
   (b) The agent should have acted bonafide and for the benefit of the principal.
   (c) The agent should have adopted the most reasonable and practicable course under the circumstances.
   (d) Destruction of the subject matter of the contract of agency.
4. Which one of the following statements is a promissory note?
   (a) I Promise to pay Q Rs. 7,000, 7 days after my marriage.
   (b) On a demand I promise to pay B or bearer Rs. 5,000
   (c) I promise to pay Rs.5,000 on C’s death provided C leaves with me enough money to pay that sum.
   (d) I acknowledge to be indebted to you for Rs. 10,000 to be paid on demand for value received.
5. Which of the following are not objectives of competition act,2002?
   (A) Ensure freedom of trade for other participants in incidental and connected markets.
   (B) Provide a reasonable level of reliability and connect operation.
   (C) Adhere to generally accepted security procedures.
   (D) Protect the interests of consumers.
   Choose the correct answer from the options given below:
   (a) A, C, D only
   (b) B, C, D only
   (c) A, C only
   (d) B, C only

Answer Key