21 Jul 2014

smu mba legal aspects of business model paper

SUBJECT CODE:      MB0051 SUBJECT           : Legal Aspects of Business 
SECTION A-1 mark questions 

6. Every person is competent to contract if he is a. Major b. Lunatic c. Indulge in illegal act
d. Drunk 
7. The person who gives the guarantee is called …………………. a. Principal debtor b. Surety c. Creditor d. Buyer 
8. Under which section Contract of indemnity comes ? a. Secs. 124 and 126 b. Secs. 126 and 127 c. Secs. 124 and 125 d. Secs. 125 and 126 
9. "The surety has a right to recover from the principal debtor the amounts which he has rightfully paid under the contract of guarantee." Which right of surety against debtor is this? a. Right of subrogation b. Right to be indemnified c. Right of contribution d. Both a & b 
10. Which one of the following is not the type of bailment? a. Commodatum b. Hire c. Deposit d. Loan 
1. When a particular course of conduct is followed again and again, it becomes …………….. a. Statutes b. Judicial precedents c. Personal law d. A custom 
2. The doctrine of judicial precedent is also known as the doctrine of a. Stare decisis b. Obiter dicta c. Stare decisis & Obiter dicta d. Obiter dicta &  Stare decisis 
3. Out of these four, which one is not the source of English law? a. Common law b. Business law c. Equity d. Statute law 
4. Contracts may be classified in 4 parts according to their validity. Out of the following which 1 is not the part of contract classification? a. Valid b. Voidable c. Void d. Invalid 
5. Here are some essentials or characteristics of contract. Out of these, which statement is incorrect? a. A contract is an agreement b. A contract is enforceable by law c. A contract comprises 1 party d. A contract can be done in writing as well as oral. o    All Exam Paper For SMU

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