Deck 7: Contract, Guarantee, Bailment, Agency, and Consumer Protection Act

Question 1

In a contract of guarantee, a person who promises to discharge another's liability is known as

A)the principal debtor
B)the creditor
C)the indemnified
D)the surety

Answer 1

the surety

Question 2

Liability of the surety is

A)coextensive with the principal debtor
B)primary with the principal debtor
C)secondary to the principal debtor
D)all of these

Answer 2

coextensive with the principal debtor

Question 3

A surety is discharged from the liability by

A)revocation notice by surety
B)material alteration in terms
C)discharge of principal by the creditor
D)all of the above

Answer 3

all of the above

Question 4

The delivery of goods by one person to another for some specific purpose is known as a

A)bailment
B)pledge
C)pledge.
D)mortgage

Question 5

The delivery of goods by one person to another as a security for the repayment of a debt is known as a

A)bailment
B)hypothecation
C)pledge
D)mortgage

Question 6

Which of the following persons does not have a right of general lien?

A)bankers
B)wharfingers
C)finder of goods
D)factors and policy brokers

Question 7

X lent his car to his friend Y for two days without any charges. It is a

A)non-gratuitous bailment
B)gratuitous bailemnt
C)hypothecation
D)beneficial bailment

Question 8

Out of following, which is/are duty of a bailee?

A)to take care
B)to take a reasonable care
C)to sell the goods
D)to retain the goods

Question 9

Out of following, which is/are rights of a bailee?

A)to indemnify
B)to claim necessary expenses
C)to delivery of goods to any one of the joint bailor of the goods
D)all of the above

Question 10

A person appointed to contract on behalf of another person is known as a/an

A)principal
B)agent
C)independent contractor
D)servant

Question 11

A mercantile agent to whom the possession of the goods is given for the purpose of selling the same is known as a/an

A)broker
B)factor
C)commission agent
D)insurance agent

Question 12

Which of the following is not a right of the agent?

A)right of lien
B)right to be indemnified
C)right to remuneration
D)right to make secret profits

Question 13

A person appointed by the original agent to act in the business of the agency but under the control of the original agent is known as a/an

A)agent
B)sub-agent
C)substituted agent
D)del credere agent

Question 14

Where the agent contracts for a principal, who is not competent to contract, in such a case the agent is

A)personally liable
B)exceeding authority
C)not personally liable
D)none of these

Question 15

Substituted agent is appointed by whom?

A)government
B)court
C)principal
D)agent

Question 16

What is the name given to an agency which cannot be terminated?

A)revocable agency
B)irrevocable agency
C)agency for a single transaction
D)agency created in necessity

Question 17

A surety is NOT discharged from his liability:

A)if terms of contract are varied without his consent.
B)if the creditor gives time to the principal debtor without his consent.
C)if the creditor releases the other co-surety.
D)if the creditor releases the principal debtor.

Question 18

Cosumer Protection Act is applicable on-

A)goods
B)services
C)restrictive trade practices
D)all of these

Question 19

In District Forum in addition to President, minimum members are-

A)three
B)two
C)four
D)no definite number

Question 20

Jurisdiction of State Commission is-

A)up to 5 lacs
B)up to 20 lacs
C)up to 30lacs
D)none of these

Question 21

Age of a member of State Commission must be not less than-

A)18 years
B)25 years
C)35 years
D)60 years

Question 22

An appellant would be-

A)any consumer
B)any voluntary consumer
C)legal heir of consumer
D)all of above.

Question 23

The provisions of Consumer Protection Act is applicable

A)goods
B)service
C)goods or service
D)goods and services

Question 24

Under the Consumer Protection Act, complainant means

A)central or state government
B)legal representative of the deceased consumer
C)both (a) & (b)
D)neither (a) nor (b)

Question 25

Consumer disputes redressal agencies include _________

A)district forum
B)state commission
C)national commission
D)all of the above