CORPORATE LEGAL FRAMEWORK
ASSIGNMENT
UNIT-1
⮚ THE COMPANIES ACT 1956
QUES1: When did the Companies Act 2013 came into force?
(A) 5th August 2013
(B) 10th August 2013
(C) 15th August 2013
(D) 20th August 2013
Ans: (D) 20th August 2013
QUES 2: Companies Act 2013 consists of --------- sections?
(A) 250
(B) 270
(C) 360
(D) 470
Ans: (D) 470
QUES 3: Which one of the following is not a chartered company?
(A) East India Company
(B) Bank Of England
(C) British Broadcasting Corporation
(D) Reliance Industries
Ans: (D) Reliance Industries
QUES 4: Minimun number of members in case of private company is?
(A) 2 (Two)
(B) 7( Seven)
(C) 50 (Fifty)
(D) 200 ( Two Hundred)
Ans: (A) 2
QUES 5: Minimum number of members in case of public company is ?
(A) 2 (Two)
(B) 7 (Seven)
(C) 50 (Fifty)
(D) 200 (Two Hundred)
Ans: (B) 7 (Seven)
⮚ MEMORANDUM OF ASSOCIATION
QUES 6: The most important document of a company is its ?
(A) Memorandum of association
(B) Article of association
(C) Prospectus
(D) Pre- incorporation contracts
Ans: (A) Memorandum of asociation
QUES 7: Any act done by the company which goes beyond the powers
of memorandum of association will be ?
(A) Ultra virus
(B) Intra virus
(C) Constructive notice
(D) Indoor management
Ans: (A) Ultra virus
QUES 8: The memorandum of company is dealt under which section ?
(A) Sec 2 (45)
(B) Sec 2 (46)
(C) Sec 2 (55)
(D) Sec 2 (56)
Ans: (D) Sec 2 (56)
QUES 9: Which document contains the constitution of a company?
(A) Article of association
(B) Memorandum of association
(C) Prospectus
(D) Pre incorporation contracts
Ans: (B) Memorandum of association
QUES 10: Memorandum of association defines the relation of the
company with the ?
(A) Members
(B) Outside world
(C) Employees
(D) Lenders
Ans: (B) Outside world
⮚ ARTICLES OF ASSOCIATION
QUES 11: The list of rules and regulation of company is known as
what ?
(A) Articles of association
(B) Memorandum of association
(C) Prospectus
(D) Pre incorporation contracts
Ans: (A) Articles of association
QUES 12: Alteration of articles must be done only by passing ?
(A) Ordinary resolutions
(B) Special resolutions
(C) Ordinary resolution with approval by ROC of companies
(D) Special resolution with approval by ROC of companies
Ans: (B) Special resolutions
QUES 13: The Articles of association need to be signed by ?
(A) All proposed directors of the companies
(B) Registrar of companies
(C) Promoters
(D) Subscribers of MOA
Ans: (D) Subscribers of MOA
QUES 14: Power to use official seal of the company outside india is to
be authorised by ?
(A) Articles of association
(B) Memorandum of association
(C) Both AOA and MOA
(D) Power of attorney
Ans: (A) Articles of association
QUES 15: Articles may not be registered by ?
(A) A private company
(B) A public company having share capital
(C) A public company limited by guarantee
(D) An unlimited company
Ans: (B) A public company having share capital
UNIT II
⮚ PROSPECTUS
QUES 1: A prospectus is issued ?
(A) By a private limited company
(B) By a public limited company
(C) By a company limited by shares
(D) None of these
Ans: (B) By a public limited company
QUES 2; A prospectus must be issued within ?
(A) 30 days
(B) 60 days
(C) 90 days
(D) 120 days of the date on which a copy of the same delivered to
the registrar
Ans: (C) 90 days
QUES 3: A statement in lieu of prospectus can be issued by ?
(A) A private company
(B) A government private company
(C) A public company
(D) None of these
Ans: (C) A public company
QUES 4: A statement in lieu of prospectus is to be filed with the
registrar before ?
(A) 3 days
(B) One week
(C) One month
(D) 3 months
Ans: (A) 3 days
QUES 5: A prospectus is to be signed by ?
(A) Promoters
(B) Directors
(C) Shareholders
(D) Directors or proposed directors or their duly authorised agents
Ans: (D) Directors or proposed directors or their duly authorised agents
⮚ SHARE CAPITAL AND MEMBERSHIP OF
COMPANY
QUES 6: A preference share can be issued ?
(A) Only by a private company
(B) Only by a public company
(C) Only by a company limited by shares
(D) All compliance except limited by guarantee
Ans: (D) All compliance except limited by guarantee
QUES 7: A company can issue securities at premium if authorised ?
(A) By its articles
(B) By the central government
(C) By the court
(D) No permission of any of these authorities is required
Ans: (D) No permission of any of these authorities is required
QUES 8: Who of the following can become a member of the company ?
(A) A minor
(B) A partnership firm
(C) A company
(D) A trustee
Ans: (C) A company
⮚ MEETINGS AND RESOLUTIONS
QUES 9: The first annual general meeting of a company must be held
within ?
(A) 6months
(B) 12 months
(C) 15 months
(D) 18 months of incorporation
Ans: (D) 18 months of incorporation
QUES 10: A special resolution must be filed with the registrar within ?
(A) 7 days
(B) 14 days
(C) 28 days
(D) 30 days of its passing
Ans: (D) 30 days of its passing
QUES 11: A proxy at a meeting has a right to ?
(A) Vote
(B) Speak
(C) Speak and Vote
(D) None of these
Ans: (A) Vote
⮚ WINDING UP AND DISSOLUTION OF COMPANIES
QUES 12: Which of the following are considered to just and equitable
ground for winding up of a company ?
(A) Deadlock in management
(B) Oppression of minority
(C) Quasi partnership
(D) All of the above
Ans: (D) All of the above
QUES 13: Which of the following cannot filed a petition for winding
up ?
(A) The company
(B) Contributory
(C) The Registrar
(D) Promoters of company
Ans: (D) Promoters of company
QUES 14: Official liquidator is appointed by
(A) Central government
(B) Tribunal
(C) Creditors
(D) Company
Ans: (B) Tribunal
QUES 15: The order of dissolution can be issued only by the ?
(A) Central government
(B) Tribunal
(C) Creditors
(D) Company
Ans: (B) Tribunal
UNIT III
⮚ CONTRACT ACT, 1872 : SALE OF GOOD ACT
QUES1: The person making the proposal is called the and the person
accepting the proposal is called :
(A) Proposor / Proposee
(B) Promisee/ promisor
(C) Promisor/ promisee
(D) Proposee/ proposor
Ans: (C) Promisor/ promisee
QUES 2: An agreement enforceable by law is:
(A) A voidable contract
(B) A contract
(C) A void contract
(D) An agreement
Ans: (B) A contract
QUES 3: An agreement which is enforceable by law at the option of
other or others is:
(A) A contract
(B) A voidable contract
(C) Void
(D) A void contract
Ans: (B) A voidable contract
QUES 4: The Indian Contract Act, 1872 extends to:
(A) The state of jammu and kashmir
(B) The union territories of india
(C) The whole of india except the state of jammu and kashmir
(D) The whole of india
Ans: (C) The whole of india except the state of jammu and kashmir
QUES 5: The Act which deals with the matters relating to the contract is
titled as:
(A) The contract act, 1872
(B) The indian contract act, 1872
(C) The indian contract act, 1882
(D) The indian contract act, 1972
Ans: (B) The indian contract act, 1872
QUES 6: An agreement not enforceable by law is said to be:
(A) A contract
(B) Void
(C) A voidable contract
(D) A void contract
Ans: (B) Void
QUES 7: A contract which ceases to be enforceable by law becomes
void when it ceases to be:
(A) Void
(B) Voidable
(C) Enforceable
(D) Unenforceable
Ans: (A) Void
QUES 8: The Indian Contract Act,1872 which was enacted on 25 April,
1872 came into force with effect from:
(A) 1st May, 1872
(B) 1st September, 1872
(C) 1st October, 1872
(D) 1st November , 1872
Ans: (B) 1st September, 1872
QUES 9: An agreement was entered into with the minor. This is
agreement is:
(A) Void
(B) Voidable
(C) Bad
(D) Illegal
Ans: (A) Void
QUES 10: Consent is said to be free when it is not caused by:
(A) Very much influence
(B) Undue influence
(C) Slightly influence
(D) Influence
Ans: (B) Undue influence
QUES 11: The Sale Of Good act 1930 is based on ?
(A) The english bill of echange act, 1882
(B) The transfer of property act, 1882
(C) The english sale of good act, 1893
(D) The indian contract act, 1872
Ans: (C) The english sale of good act, 1893
QUES 12: Under section 9 of sale of good act, 1930 what is a reasonable
price is ?
(A) A question of fact
(B) A question of law
(C) A mixed question of fact and law
(D) Only (C) or not (A) or (B)
Ans: (A) A question of fact
QUES 13: Future good’ has been defined, in the sale of good act, 1930
under ?
(A) Section 2 (5)
(B) Section 2(6)
(C) Section 2(7)
(D) Section 2 (8)
Ans: (B) Section 2(6)
QUES 14: In a contract for sale ( under the sale of good act) the subject
matter must primarily be related to ?
(A) Price
(B) Guarantee
(C) Warantee
(D) Goods
Ans: (D) Goods
QUES 15: The position of finder of goods is same as that of ?
(A) Bailer
(B) Bailee
(C) Creditor
(D) True owner
Ans: (B) Baiiee
UNIT IV
⮚ THE NEGOTIABLE INSTRUMENT ACT, 1881
QUES 1: ._______ means ‘something legally transferable from one
person to another for a consideration’
a. Instrument b. Negotiable c. Negotiable instruments
d. all of the above
Ans: (b) Negotiable
QUES 2: ______ means ‘ a written document by which some legal
rights are created in favor of some person’
a. Instrument b. Negotiable c. Negotiable Instruments
d. all of the above
Ans : (a) Instrument
QUES 3: Negotiable instrument means a promissory note, bill of
exchange or cheque, payable to ___________
a. Bearer b. order c. either to bearer or order d. neither bearer
nor order
Ans (C) Either to bearer or order
QUES 4. A negotiable instrument is freely transferable, by delivery if it
is a/an ______________ instrument.
a. order b. bearer c. both a & B d. None of the above
Ans: (b) Bearer
QUES 5: A negotiable instrument is freely transferable, by endorse if it
is a/an ____________ instrument.
a. order b. bearer c. both a & b d. None of the above
Ans: (a) Bearer
QUES 6. The instrument must be taken in good faith and with a……..
a. Interest b. consideration c. legal relation [Link] motive
Ans: (b) Consideration
QUES 7: when an instrument has been lost it is presumed that it was
____________
a. expired b. dulystamped [Link] d. misplaced
Ans: (b) Duly stamped
QUES 8: _________ an instrument in writing containing an
unconditional undertaking signed by the maker to pay a certain sum of
money only to, or to the order of, a certain person or to the bearer of the
instrument .
a. Promissory Note b. bill ofexchange [Link] d. none of the
above
Ans: (a) Promissory note
QUES 9: The number of parties to a bill of exchange is _______
a. 2 b. 4 c. 6 d. 3
Ans: (d) 3
QUES 10: The number of parties to a Promissory Note is _______
a. 2 b. 4 c. 6 d. 3
Ans: (a) 2
QUES 11 : Sec. 4 of negotiable instruments Act 1880 deals with….
a. Promissory Note b. bill of exchange c. Cheque d. none of the
above
Ans: (a) Promissory Note
QUES12: __________________ cannot be a bearer instrument
a. Promissory Note b. bill of exchange c. Cheque d. none of
the above
Ans: (a) Promissory Note
QUES 13: Drawer is both debtor to one and creditor to another in case
of ________________
a. Promissory Note [Link] ofexchange c. Cheque d. none of
the above.
Ans(b) Bill of exchange
QUES 14:If the instrument is not ‘on demand’ ___________ days of
grace is granted.
a. 7 b. 5 c. 3 d. 4
Ans: (c) 3
QUES 15: when the is crossed with Two parallel lines or with word ‘&
Co.’ etc. this crossing is known as ?
a. general crossing [Link] crossing c. restrictive crossing
d. none of the above
Ans: (a) General crossing
UNIT V
FEMA, 2000 AND CONSUMER PROTECTION ACT
QUES 1: Which act governs the foreign exchange management in India?
A. FEMA 1999
B. FEMA 1995
C. FEMA 1973
D. FEMA 2003
Ans: (A) FEMA1999
QUES 2: FEMA 1999 has been divided into ___ chapters and ____
sections.
A. 5, 29
B. 6, 37
C. 7, 49
D. 8, 91
Answer: (C) 6, 37
QUES3: Name the authority that regulates the Foreign exchange in
India?
A. Enforcement Directorate
B. RBI
C. Finance Ministry
D. SEBI
Ans: (B) RBI
QUES 4: Who investigates the contravention of provisions of FEMA
1999?
A. Enforcement Directorate
B. RBI
C. Finance Ministry
D. SEBI
Ans: (A) Enforcement Directorate
QUES 5: Who have been authorised by RBI to deal in foreign exchange
transactions?
A. Authorised Agency
B. Authorised People
C. Authorised Company
D. Authorised Dealer
Ans: (D)
QUES 6: FEMA was made applicable with effect from ____
A. 1st April, 2000
B. 1st June, 2000
C. 1st April, 1999
D. 1st June, 1999
Ans: (B) 1ST June, 2000
QUES 7: Consumer Protection Act is significant to ?
A) Immovable Goods
B) Movable Goods
C) Particular Goods and Services
D) All Goods and Services
Ans: (D) All goods and services
QUES8: How many rights does a consumer have under the Consumer
Protection Act?
A) 8
B) 6
C) 4
D) 5
Ans: (B) 6
QUES 9: Under the Consumer Protection Act, the rights of a consumer
do not include to be
A) Safety
B) Choose
C) Presented
D) Informed
Ans: (C) Presented
QUES 10: When the seller manipulates the price, it is known as
A) Caveat Emptor
B) Unfair trade practices
C) Restricted trade practices
D) None of the above
Ans:(C) Restricted trade practices
Ques11: Under this act, the minimum age of forum member of a district
forum should be
A)30
B) 40
C) 35
D) 65
Ans: (C) 35
QUES 12:The maximum age national commission member should be
A) 60
B) 35
C) 70
D) 65
Ans: (C) 70
QUES13:The maximum age for a state commission member should be
A) 60
B) 35
C) 70
D) 67
Ans:( D) 67
QUES 14:Which of the following forum can reappoint the same person
as its member?
A) National commission
B) State commission
C) District commission
D) None of the above
Ans: (D) None of the above
QUES 15:In which forum is it compulsory to have a female member?
A) National commission
B) State commission
C) District commission
D) All of the above
Ans: (D) All of the above
THANKYOU
SUBMITTED TO: PRIYANKA AGARWAL MA’AM
SUBMITTED BY: BHOOMI VERMA
[Link] (FINANCE) IV SEMESTER
ROLL NO: 05
