CA Foundation Business Law

Bailment and Pledge – MCQs with Answers Which section of the Indian Contract Act defines Bailment?a) Section 124b) Section 148c) Section 172d) Section 126 Answer: b) Section 148 In bailment, the person delivering the goods is called the:a) Bailorb) Baileec) Lessord) Pledger Answer: a) Bailor The person to whom goods are delivered in a bailment […]

Breach of Contract and Its Remedies – MCQs Q1. What is a breach of contract?A. Violation of criminal lawB. Violation of a promise under a contractC. Making a new contractD. Performing the contract early Answer: B. Violation of a promise under a contract Q2. Which of the following is a remedy for breach of contract?A. ImprisonmentB. […]

Partnership and LLP Accounts Which document is created to outline the rights and duties of partners?a) Memorandum of Associationb) Articles of Associationc) Partnership Deed d) LLP Agreement In the absence of a partnership deed, partners share profits and losses:a) Equally b) In capital ratioc) Based on aged) Based on experience Which account is not prepared […]