Business Law Online Test Questions

Business Law Online Test

Take Business Law Online Test and evaluate your readiness before you appear for any interview or written test. Consisting of objective type questions from various important concepts of Business Law, this test presents you questions followed by four options. The correct answer and explanation provided with each question make it easier for you to to understand each concept well.

Who is this Business Law Online Test designed for?

All the management students and experienced professionals will find this test extremely useful. All freshers, B.Com, BBA, MBA, MSW, college students wanting to make a career in management will be highly benefitted by this test.

Business Law Online Test topics

This online test covers topics like - Contract, Partnership, Sales of Goods, Banking & Insurance, Negotiable Instruments etc.
1. Three people are under a joint promise to pay Rs. 12,000/- to a person. While making the actual payment, one person is compelled to pay the whole amount of Rs. 12,000/-. He can recover contribution of Rs. 4000/- from

a. Each one of them
b. Only one of them
c. None of them
d. Both of them together

Answer: a. Each one of them

2. A contract of present sale of future goods is an ____________ and not actual sale

a. Agreement to purchase
b. Agreement to sell
c. Agreement to reset
d. Agreement to resale

Answer: b. Agreement to sell

3. Match the Following

1] Termination of the relationship between the parties to a contracti] Discharge of a contract
2] Transfer of rights and benefits under a contractii] Assignment
3] Each party has to perform his promise without waiting for the performance by the other partyiii] Mutual and Independent promises
4] Promises to be performed simultaneouslyiv] Mutual and Concurrent promises
v] Damages agreed upon
vi] Breach of a contract
a. 1-iii, 2-vi, 3-iv, 4-ii
b. 1-ii, 2-vi, 3-iv, 4-iii
c. 1-v, 2-vi , 3-iv, 4-iii
d. 1-i, 2-ii, 3-iii, 4-iv

Answer: d. 1-i, 2-ii, 3-iii, 4-iv

4. An appropriate laboratory means that it is _______

i] Recognised by Central Government
ii] Recognised by a State Government
iii] Established by any law for the time being in force
iv] Recognised by a private organisation

a. Only i and ii
b. Only i and iii
c. All i, ii and iii
d. All the above

Answer: c. All i, ii and iii

5. If you lose the evidence proving the existence of a contract, what happens to it?

a. The contract is operated by Law
b. The contract becomes profitable to one party
c. The contract becomes beneficial to the parties
d. The contract gets terminated

Answer: d. The contract gets terminated