Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Other LawsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. Which of the following is a valid contract Agreement without consideration Agreement made under coercion Agreement made with a minor Agreement with lawful consideration and free consent None 2. When the consent of a party is obtained by undue influence, the contract is: Void Voidable Valid Illegay None 3. In a contract, the consideration must be: Adequate Reasonable At the discretion of the promisor Something of value in the eyes of the law None 4. Which of the following is NOT an essential element of a valid contract? Offer and Acceptance Lawful Consideration Intention to Create Legal Relations Written Agreement None 5. What is the limitation period for filing a suit for breach of contract? 1 year 3 years 5 years 10 years None 6. Which of the following is not a mandatory committee for listed companies? Audit Committee Nomination and Remuneration Committee Risk Management Committee Corporate Social Responsibility Committee None 7. What is the maximum number of members in a private company? 50 100 200 Unlimited None 8. The minimum number of directors in a public company is: 2 3 4 5 None 9. The minimum capital required to form a one-person company (OPC) is: ₹1 lakh ₹2 lakh ₹5 lakh No minimum requirement None 10. Which document outlines the internal management of a company? Memorandum of Association Articles of Association Prospectus Share Certificate None 11. A dishonored cheque attracts penalty under Section 138 of the Negotiable Instruments Act. The imprisonment term may extend to: 3 months 6 months 1 year 2 years None 12. Which of the following is not a negotiable instrument? Bill of exchange Cheque Promissory note Mortgage deed None 13. Who is a drawee in case of a bill of exchange? The person who draws the bill The person to whom the payment is made The person who accepts the bill The person who guarantees the payment None 14. A cheque is valid for: 3 months from the date of issue 6 months from the date of issue 12 months from the date of issue No specific time limit None 15. Crossing of a cheque ensures: It is not negotiable It can be paid only through a bank It cannot be endorsed further None of the above None 16. The term “person” under the General Clauses Act includes: Only individuals Individuals and companies Individuals, companies, and firms Only legal entities None 17. If the law prescribes a period for doing an act, it shall be computed: Including the first day Excluding the first day and including the last day Including weekends None of the above None 18. The term "affidavit" means: Written statement of facts Verbal statement in court Document containing a contract None of the above None 19. The minimum number of designated partners in an LLP is: 1 2 5 7 None 20. An LLP is registered under the: Companies Act, 2013 Partnership Act, 1932 Limited Liability Partnership Act, 2008 Indian Trust Act, 1882 None 21. In an LLP, the liability of partners is: Unlimited Limited to the extent of their contribution Proportionate to profit-sharing ratio None of the above None 22. The primary rule of interpretation is: Literal Rule Golden Rule Mischief Rule Purposive Rule None 23. Ejusdem Generis means: Strict interpretation Of the same kind or nature Avoidance of redundancy Harmonious construction None 24. Corporate Social Responsibility (CSR) is mandatory for companies with a net worth of: ₹500 crore or more ₹100 crore or more ₹300 crore or more ₹200 crore or more None 25. Which of the following documents must be filed annually by every company? Board Report Annual Return Director’s Declaration Articles of Association None 26. When a party to a contract refuses to perform its obligation before the due date, it is called: Actual breach of contract Anticipatory breach of contract Termination of contract Novation of contract None 27. Which of the following agreements is expressly declared void? Agreement in restraint of trade AgreemAgreement to do an impossible act Agreement in restraint of marriage All of the above None 28. A quasi-contract is based on the principle of: Free consent Equity, justice, and good conscience Competency of parties None of the above None 29. An offer can be revoked: After acceptance Before acceptance After consideration is provided None of the above None 30. The consideration in a contract can be: Past Present Future All of the above None 31. Which of the following meetings is mandatory for a public company limited by shares? Annual General Meeting Extraordinary General Meeting Board Meeting Class Meeting None 32. Which section of the Companies Act, 2013 deals with the Memorandum of Association? Section 3 Section 4 Section 5 Section 6 None 33. The tenure of an independent director under the Companies Act, 2013 is: 3 years 5 years 10 years 15 years None 34. Which of the following forms is filed for incorporation of a company? SPICe+ MGT-7 AOC-4 DIR-3 None 35. The term 'small company' does not include: A private company A public company A subsidiary of a public company Both (b) and (c) None 36. When is a negotiable instrument said to be dishonored? When the payment is refused or cannot be made When the instrument is lost When the instrument is transferred to another person None of the above None 37. Noting and protesting of a bill of exchange is done: Before the due date After the dishonor of the bill After the payment of the bill Before acceptance None 38. The person who writes a promissory note is called: Maker Drawer Payee Drawee None 39. Which of the following is not a feature of a promissory note? It must be in writing It must be signed by the maker It must be payable only on demand It must contain an unconditional promise to pay None 40. Which of the following is not a fundamental principle of Corporate Governance? Transparency Accountability Wealth maximization Fairness None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test.Look out for results and future opportunities.Stay Connected !! Your quiz time is about to finish. Few seconds left. 1 2 3 4 Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
