Test 202 Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Business Laws and EthicsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. Under the Indian Contract Act, 1872, an agreement not enforceable by law is called Contract Void agreement Valid agreemen Quasi-contract None 2. The term "coercion" is defined in Section ____ of the Indian Contract Act, 1872. 14 15 16 17 None 3. A contract caused by mistake of fact is: Voidable Void Valid Illegal None 4. The age of majority under the Indian Majority Act, 1875 is: 16 years b 18 years 21 years 25 years None 5. Which of the following is not a type of consideration? Past Present Future Conditional None 6. In case of a minor's agreement, the contract is: Valid Voidable Void ab initio Enforceable with permission None 7. The Sale of Goods Act, 1930, applies to: Immovable property Movable property Both movable and immovable property None of the above None 8. Which of the following is not a right of an unpaid seller? Right of lien Right of stoppage in transit Right to sue for price Right to enter buyer's premises None 9. Which of the following is an essential element of a valid contract? Lawful object Uncertainty Absence of free consent Illegality None 10. Ethics refers to: Rules provided by an external source An individual's own principles Religious beliefs Cultural norms None 11. Caveat Emptor" means: Let the seller beware Let the buyer beware Let the producer beware Let the consumer beware None 12. Which one of the following is not an example of unethical behavior? Bribery Honesty Insider trading Misrepresentation None 13. Under the Indian Partnership Act, 1932, a partnership must have at least: 1 partner 2 partners 5 partners 7 partners None 14. The liability of a partner in a partnership firm is: Limited Unlimited Zero Fixed None 15. The term "consideration" is defined under Section ____ of the Indian Contract Act, 1872. 2(a) 2(d) 2(g) 2(h) None 16. Ethics in business is important because: It improves profitability It enhances business reputation It promotes fairness All of the above None 17. A contract of guarantee involves: Two parties Three parties Four parties Only one party None 18. Which of the following is a characteristic of business ethics? It is absolute It is situational It is only profit-oriented It is universally applicable None 19. The breach of a condition in a contract gives the aggrieved party the right to: Claim damages only Repudiate the contract Demand specific performance None of the above None 20. Under the Indian Contract Act, 1872, an agreement not enforceable by law is called a: Contract Void agreement Valid agreement Quasi-contract None 21. The term "coercion" is defined in Section ____ of the Indian Contract Act, 1872. 14 15 16 17 None 22. A contract caused by mistake of fact is: Voidable Void Valid Illegal None 23. The age of majority under the Indian Majority Act, 1875 is: 16 years 18 years 21 years 25 years None 24. Which of the following is not a type of consideration? Past Present Future Conditional None 25. In case of a minor's agreement, the contract is: Valid Voidable Void ab initio Enforceable with permission None 26. The Sale of Goods Act, 1930, applies to: Immovable property Movable property Both movable and immovable property None of the above None 27. Which of the following is not a right of an unpaid seller? Right of lien Right of stoppage in transit Right to sue for price Right to enter buyer's premises None 28. Which of the following is an essential element of a valid contract? Lawful object Uncertainty Absence of free consent Illegality None 29. Ethics refers to: Rules provided by an external source An individual's own principles Religious beliefs Cultural norms None 30. Caveat Emptor" means: Let the seller beware Let the buyer beware Let the producer beware Let the consumer beware None 31. Which one of the following is not an example of unethical behavior? Bribery Honesty Insider trading Misrepresentation None 32. Under the Indian Partnership Act, 1932, a partnership must have at least: 1 partner 2 partners 5 partners 7 partners None 33. The liability of a partner in a partnership firm is: Limited Unlimited Zero Fixed None 34. The term "consideration" is defined under Section ____ of the Indian Contract Act, 1872. 2(a) 2(d) 2(g) 2(h) None 35. Ethics in business is important because: It improves profitability It enhances business reputation It promotes fairness All of the above None 36. A contract of guarantee involves: Two parties Three parties Four parties Only one party None 37. The Indian Contract Act came into force in: 1857 1872 1900 1956 None 38. Which of the following is a characteristic of business ethics? It is absolute It is situational It is only profit-oriented It is universally applicable None 39. The breach of a condition in a contract gives the aggrieved party the right to: Claim damages only Repudiate the contract Demand specific performance None of the above None 40. The Indian Contract Act came into force in: 1857 1872 1900 1956 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 !! Time's upTime is Up!
