MCQExams
0:0:1
CBSE
JEE
NTSE
NEET
Practice
Homework
×
CBSE Questions for Class 12 Commerce Business Studies Consumer Protection Quiz 7 - MCQExams.com
CBSE
Class 12 Commerce Business Studies
Consumer Protection
Quiz 7
Under the Sale of Goods Act, $$1930$$, the Seller in a Contract of Sale transfer the ________ in goods to the buyer for a price.
Report Question
0%
Possession
0%
Control
0%
Rights
0%
Property
Explanation
The Seller in a Contract of Sale transfers the property in goods to the buyer for a price, under the Sale of Goods Act. This means goods are exchanged between buyers and sellers because of the price paid by the buyer.
Hence, option (D) is the correct answer.
The property of goods will be transferred to the buyer at the time of _______ where total payment is made.
Report Question
0%
Sale
0%
Agreement to Sell
0%
Hire purchase
0%
Sale/approval basis
Explanation
The property of goods will be transferred to the buyer at the time of hire purchase where total payment is made.
Hirer is the party availing the facility in the hire-purchase agreement. Under the hire-purchase agreement, the goods are let on hire and in accordance with the terms of the agreement hirer can purchase the goods.
Hence, option (C) is the correct answer.
When there is contract for sale of specific goods, the agreement is _________, if the goods, without the knowledge of seller, have been perished or have no longer in accordance with description before the contract.
Report Question
0%
Void
0%
Voidable
0%
Valid and enforceable
0%
Illegal
Explanation
When there is a contract for the sale of specific goods, the agreement is void, if the goods, without the knowledge of the seller, have been perished or have no longer been in accordance with the description before the contract. This states that if the goods get damaged or destroyed and the seller does not come to know anything, then the contract for sale becomes void.
Hence, option (A) is the correct answer.
An Agreement made between two parties to pay consideration in future and in execution of Sale deed is known as _________.
Report Question
0%
Sale
0%
Agreement to Sell
0%
Hire purchase
0%
None
Explanation
An Agreement made between two parties to pay consideration in future and in execution of Sale deed is known as agreement to sell.
When under a contract, the property in goods is transferred from the seller to the buyer, contract is called an agreement to sell. In an Agreement to Sell, the property in goods is transferred in present.
Hence, option (B) is the correct answer.
In an agreement to sell, where goods lie with the Buyer, the risk of loss of goods remains with __________.
Report Question
0%
Either buyer or seller
0%
Buyer only
0%
Seller only
0%
Buyer and seller to the extent of their shares
Explanation
In an agreement to sell, where goods lie with the Buyer, the risk of loss of goods remains with the seller only.
When under a contract, the property in goods is transferred from the seller to the buyer, contract is called an agreement to sell. In an Agreement to Sell, the property in goods is transferred in present.
Hence, option (C) is the correct answer.
In a concluded sale, if goods are destroyed, loss is to be faced by ________.
Report Question
0%
Seller
0%
Buyer
0%
Carrier
0%
Seller's agent
Explanation
The Goods are damaged after Sale. The Risk is to be borne by buyer only. After the sale of the goods, the owner of the goods is the buyer. Thus, if the goods get destroyed after sale, risk is to be borne by buyer on.
Hence, option (B) is the correct answer.
If the Goods completely perish before Contract of Sale, the Contract becomes ________.
Report Question
0%
Valid
0%
Void
0%
Voidable
0%
Unenforceable
Explanation
If the Goods completely perish before Contract of Sale, the Contract becomes void.
When there is the contract for sale of specific goods, the agreement is void, if the goods, without the knowledge of seller, have been perished or have no longer in accordance with a description before the contract. This states that if the goods get damaged or destroyed and the seller does not come to know anything, then the contract for sale becomes void.
Hence, option (B) is the correct answer.
The Goods are damaged after Sale. The Risk is to be borne by _________.
Report Question
0%
Buyer only
0%
Seller only
0%
Both (a) & (b)
0%
None of the above
Explanation
The Goods are damaged after Sale. The Risk is to be borne by buyer only. After the sale of the goods, the owner of the goods is the buyer. Thus, if the goods get damaged after-sale, the risk is to be borne by buyer only.
Hence, option (A) is the correct answer.
Where goods are not specific and ascertainable at the time of the making of the contract, it shall ________.
Report Question
0%
Become void
0%
Become voidable at the option of the Buyer
0%
Operate as an agreement to sell
0%
Become a valid contract of sale
Explanation
Where goods are not specific and ascertainable at the time of the making of the contract, it shall operate as an agreement to sell.
When under a contract, the property in goods is transferred from the seller to the buyer, the contract is called an agreement to sell. In an Agreement to Sell, the property in goods is transferred in present.
Hence, option (C) is the correct answer.
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be ________.
Report Question
0%
Condition
0%
Warranty
0%
Condition precedent
0%
Either (a) or (b)
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be either condition or warranty. A condition is a stipulation that is very important to determine the main purpose of the contract.
A "Warranty", under the Sale of Goods Act, has been defined as stipulation collateral to the main purpose of the contract.
Hence, option (D) is the correct answer.
Under the Sale of Goods Act, a Condition is a stipulation essential for the ________ of the contract.
Report Question
0%
Collateral Purpose
0%
Main purpose
0%
Both (a) and (b)
0%
Either (a) or (b)
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be either condition or warranty. A condition is a stipulation that is very important to determine the main purpose of the contract.
Hence, option (B) is the correct answer.
Conditions which are presumed by Law to be present in a Contract are _________.
Report Question
0%
Express conditions
0%
Implied conditions
0%
Qualified conditions
0%
Unqualified conditions
Explanation
Conditions that are presumed by law to be present in a Contract are implied conditions.
Implied condition is not treated as implied warranty when the condition is not excused by law. When the conditions of the contract of sale fall under the purview of the judiciary wing of the parliament, the implied condition cannot be treated as implied warranty.
Hence, option (B) is the correct answer.
_________ is a stipulation collateral to the main purpose of the contract which creates right to claim damages and not to rescind the contract.
Report Question
0%
Condition
0%
Warranty
0%
Both condition and warranty
0%
Neither condition nor warranty
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be either condition or warranty.
A "Warranty", under the Sale of Goods Act, has been defined as a stipulation collateral to the main purpose of the contract which creates rights to claim damages.
Hence, option (B) is the correct answer.
The breach of a "condition" in a contract of sale of goods, gives the right to _______.
Report Question
0%
Repudiate the contract
0%
Claim for damages only
0%
Either (a) or (b)
0%
Both (a) and (b)
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof maybe either condition or warranty.
Breach of a "Warranty", under the Sale of Goods Act, has been defined as a stipulation collateral to the main purpose of the contract which creates rights to claim damages and repudiates the contract.
Hence, option (D) is the correct answer.
A "Warranty", under the Sale of Goods Act, has been defined as a stipulation __________.
Report Question
0%
Collateral to the main purpose of the contract
0%
With regard to time
0%
Essential to the main purpose of the contract
0%
All of the above
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof may be either condition or warranty.
A "Warranty", under the Sale of Goods Act, has been defined as stipulation collateral to the main purpose of the contract which creates rights to claim damages.
Hence, option (A) is the correct answer.
Breach of a "Warranty" in a contract of sale of goods, gives the right to _______.
Report Question
0%
Reject the goods
0%
Claim for damages
0%
Repudiate the contract
0%
All of the above
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof maybe either condition or warranty.
Breach of a "Warranty", under the Sale of Goods Act, has been defined as a stipulation collateral to the main purpose of the contract which creates rights to claim damages.
Hence, option (B) is the correct answer.
Implied condition is not treated as implied warranty when _________.
Report Question
0%
Voluntary waiver of condition
0%
Contract is in separable, and buyer accepted the part of the goods
0%
Condition is not excused by law
0%
All of the above
Explanation
Conditions that are presumed by law to be present in a Contract are implied conditions.
Implied condition is not treated as implied warranty when the condition is not excused by law. When the conditions of the contract of sale fall under the purview of the judiciary wing of the parliament, the implied condition cannot be treated as implied warranty.
Hence, option (C) is the correct answer.
When the breach of condition is treated as breach of warranty, buyer has right to _______.
Report Question
0%
Claim damages
0%
Repudiate the contract
0%
Reject the goods
0%
None of the above
Explanation
A stipulation in a contract of sale with reference to the goods which are the subject matter thereof maybe either condition or warranty.
Breach of a "Warranty", under the Sale of Goods Act, has been defined as a stipulation collateral to the main purpose of the contract which creates rights to claim damages.
Hence, option (A) is the correct answer.
When a person sells the goods by infringing the copyright or trademark of the others, there is breach of an Implied __________.
Report Question
0%
Condition as to Title
0%
Condition as to Description
0%
Condition as to Merchantability
0%
None of these above
Explanation
When a person sells the goods by infringing the copyright or trademark of the others, there is a breach of an implied condition as to title.
Conditions that are presumed by law to be present in a Contract are implied conditions.
Hence, option (A) is the correct answer.
The buyer of a pesticide tin, the lid of which is broken, gets injured by inhaling the powder. The seller has failed in disclosing the same. Here buyer can claim ____________.
Report Question
0%
Damages for breach of warranty as to disclose of dangerous nature
0%
Repudiation of contract
0%
Exchange of contract
0%
None of these above
Explanation
The buyer of a pesticide tin, the lid of which is broken, gets injured by inhaling the powder. The seller has failed in disclosing the same. Here buyer can claim damages for breach of warranty as to disclose of dangerous nature. The buyer has the right to claim compensation for the damage.
Hence, option (A) is the correct answer.
In case of sale by description, there is an implied _______ that the goods shall correspond to description.
Report Question
0%
Warranty
0%
Condition
0%
Stipulation
0%
Description
Explanation
In the case of sale by description, there is an implied condition that the goods shall correspond to description.
Conditions that are presumed by law to be present in a Contract are implied conditions.
Hence, option (B) is the correct answer.
In a contract of sale, ordinary there is _______ as to the quality or fitness for any purpose of goods.
Report Question
0%
An implied warranty or condition
0%
An express warranty or condition
0%
No implied warranty or condition
0%
No express warranty or condition
Explanation
In a contract of sale, ordinary there is no implied warranty or condition as to the quality or fitness for any purpose of goods.
Implied condition as to the quality or fitness becomes applicable if the buyer discloses to the seller, exact purpose for which goods are required.
Hence, option (C) is the correct answer.
The Implied Warranties as per Sale of Goods Act includes _________.
Report Question
0%
Enjoyment of undisturbed Possession
0%
Disclosure of dangerous nature of Goods
0%
Quality of fitness by usage of Trade
0%
All of the above
Explanation
The Implied Warranties as per Sale of Goods Act includes all of the following:-
a) enjoyment of undisturbed Possession.
b) disclosure of dangerous nature of Goods.
c) quality of fitness by the usage of Trade.
Hence, option (D) is the correct answer.
In case of ___________ in addition to the implied condition as to the merchantability there is another implied condition that the goods shall be wholesome.
Report Question
0%
silver
0%
equity share
0%
machineries
0%
eatables
Explanation
In case of eatables in addition to the implied condition as to the merchantability there is another implied condition that the goods shall be wholesome. Eatables refer to items of food.
In case of sale of goods by sample as well as by description, the bulk of the goods should correspond with _________.
Report Question
0%
The sample
0%
The description
0%
Either sample or description
0%
Both sample and description
Explanation
In the case of sale of goods by sample as well as by description, the bulk of the goods should correspond with both sample and description. Sample of goods is a part of the bulk of the goods.
Hence, option (D) is the correct answer.
Merchantable Quality of Goods means __________.
Report Question
0%
Goods are free from Latent defects
0%
Marketable at their full Values
0%
Goods can be used for the purpose for which they are purchased
0%
All of the above
Explanation
Merchantable Quality of Goods refers to those goods which are subject to consumer sale. Merchantable quality of goods means any of the following:
a) goods are free from Latent defects
b) marketable at their full Values
c) goods can be used for the purpose for which they are purchased
Hence, option (D) is the correct answer.
Which of the following is not an implied warranty?
Report Question
0%
Warranty as to undisturbed possession
0%
Warranty as to dangerous nature of goods
0%
Warranty as to existences of encumbrances
0%
Warranty as to custom or usage of trade
Explanation
Warranty as to existences of encumbrances is not an implied warranty. An implied warranty is a law term. It refers to the certain assurances that are presumed to be made in the sale of products.
Hence, option (C) is the correct answer.
Implied condition as to quality or fitness becomes applicable if ___________.
Report Question
0%
Buyer discloses to the Seller, the exact purpose for which goods are required
0%
Buyer suffers from an abnormality and does not communicate this fact to the Seller
0%
Seller's business is to sell specific goods under a patent or trade name
0%
Buyer reserves the right to examine the goods and check its quality
Explanation
In a contract of sale, ordinary there is no implied warranty or condition as to the quality or fitness for any purpose of goods.
Implied condition as to the quality or fitness becomes applicable if the buyer discloses to the seller, the exact purpose for which goods are required.
Hence, option (A) is the correct answer.
M purchased a hot water bottle from a Chemist. The bottle burst and injured his wife. The Chemist is liable on account of __________.
Report Question
0%
Breach of express condition as to quality
0%
Breach of implied condition as to quality
0%
Personal injury caused to the Buyer's wife
0%
Hot water bottle sales are illegal
Explanation
M purchased a hot water bottle from a Chemist. The bottle burst and injured his wife. The Chemist is liable on account of breach of implied condition as to quality as the bottle is not of proper quality. An implied condition is applied to a situation when the buyer of the goods lets know the sellers the purpose for which the goods are bought.
Hence, option (B) is the correct answer.
The Doctrine of Caveat Emptor applied to the sale where _______________.
Report Question
0%
The buyer expressly informed the seller the particular purpose for which the goods are being bought
0%
Sale under a Patent or Trade Name
0%
When the good is of merchantable quality and the buyer has examined the good
0%
None of the above
Explanation
Caveat Emptor means let the buyer beware before buying the goods. The principle of " Caveat Emptor" as found in Section 16 of the Sale of Goods Act means that buyer must take care.
The Doctrine of Caveat Emptor is not applied to the sale where:
a) the buyer expressly informed the seller of the particular purpose for which the goods are being bought
b) sale under a Patent or Trade Name
c) when the good is of merchantable quality and the buyer has examined the good
Hence, option (D) is the correct answer.
0:0:1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
0
Answered
0
Not Answered
0
Not Visited
Correct : 0
Incorrect : 0
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Practice Class 12 Commerce Business Studies Quiz Questions and Answers
<
>
Support mcqexams.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page
