CBSE Questions for Class 12 Commerce Business Studies Consumer Protection Quiz 8 - MCQExams.com

Partnership arises by the way of_______.
  • Statute
  • Parties
  • Contract
  • Status
The process of identifying the goods and setting apart as per the intended quality or description is called _________.
  • Identification
  • Procurement
  • Ascertainment
  • Allocation
The doctrine of caveat emptor is applicable where __________.
  • There is no implied warranty or condition as to the quality or fitness of goods
  • The buyer discloses to the seller the particular purpose for which goods are required
  • Goods are bought by sample as well as description
  • The seller sells the goods by making fraud and the buyer believes it
The property, in case of sale of unascertained goods, passes when ______.
  • Pucca delivery order is entered
  • Goods are identified and appropriated to the contract
  • Goods are so far ascertained that the parties have agreed that they shall be taken from some specific larger stock
  • Transfer is made in the books of the warehouse-man
The principle of "Caveat Emptor" as found in Sec. $$16$$ of the Sale of Goods Act, means that the __________.
  • Buyer must take care
  • Buyer must take a chance
  • Seller must take care
  • Seller must take a chance
Under the sale of goods act, $$1930$$. The risk prima facie passes with _________.
  • Ownership
  • Transit
  • Discharge of contract
  • Delivery of goods
Caveat emptor means _________.
  • Let the buyer beware before buying the goods
  • Let the Seller beware before Selling the goods
  • Let the buyer beware after buying the goods
  • Let the seller beware after the goods
By transferring the Property, the Rights and Liabilities will transfer to _______.
  • Buyer
  • Seller
  • Both (a) and (b)
  • None of these above
For transfer of property in ascertained goods, the basic condition is that ______.
  • Goods must be ascertained and appropriated
  • Goods must be defined by description
  • Buyer must received a sample of the goods
  • Seller must have produced / purchased the goods
In a sale on "approval" basis, any act of the Buyer exercising domination over the goods, showing an unequivocal intention to buy is called _______.
  • adopting the transaction
  • adapting the transaction
  • revoking the transaction
  • rejecting the transaction
In case of sale on "sale or return" or "approval" basis, property passes to the buyer when __________.
  • Buyer approves or accepts the goods
  • Buyer does any act adopting the transaction
  • Buyer retains the goods for more than the contract-stipulated time or reasonable time, without giving notice of rejection
  • All of the above
A Finder of goods has the power to sell the goods to give good title to the Buyer, if the owner of goods cannot be found with __________.
  • ordinary diligence
  • reasonable diligence
  • due diligence
  • lack of diligence
In case of sale of specific goods in a deliverable state, the property in goods passes to the buyer when _________.
  • Contract in entered
  • Payment is made by the buyer
  • Goods are delivered and payment is made
  • Goods are delivered to buyer
Ram of Chennai took a Bill of Lading in the name of Suman of Maldives, but sent it to Tarun, Ram's Agent in Maldives. The goods were destroyed while in sea. Who has to bear the loss of goods?
  • Ram
  • Suman
  • Tarun
  • All of the above
As per sales of goods Act, $$1930$$ implied condition as to merchantable quality _________ where the buyer has examined the goods.
  • Is applicable
  • Is presumed
  • Is not applicable
  • None of the above
For passing of property in respect of specific or ascertained goods, the intention of the parties can be ascertained from _________.
  • Terms of the contract
  • Conduct of the parties
  • Circumstances of the case
  • All of the above
Q sells $$100$$ tonnes of Rice to P at Rs. $$50,000$$ per tonne. P makes the full payment and says that he will take the Goods by next week. Before P could take the Goods, the Goods are destroyed. The Loss will be borne by _____.
  • P
  • Q
  • both P & Q equally
  • none
In cases of goods sent on approval basis, the goods are at the __________, if they perish in an inevitable accident.
  • buyer's risk
  • seller's risk
  • combined risk of buyer and seller
  • carrier's risk
Delivery of goods to the Carrier for the purpose of transmission to the Buyer automatically means that the property in goods vest in the Buyer.
  • True
  • Partly True
  • False
  • None of the above
When goods are shipped or delivered to a railway administration for carriage by railway, the Seller is prima facie deemed to have reserved the right of disposal, if, by the Bill of Lading or Railway Receipt, the goods are deliverable to the order of ______.
  • Buyer
  • Seller
  • Buyer or his agent
  • Seller or his agent
Giving document of title of goods is which type of delivery?
  • Symbolic
  • Constructive
  • Actual
  • None of these
When goods are physically handed over to the Buyer or his authorised agent i.e., transfer of physical custody, it is a case of _______.
  • Actual delivery
  • Constructive delivery
  • Symbolical delivery
  • Forward delivery
To enable the Buyer to get good title, in case of sale by Mercantile Agent, the _______________, that the Seller/Agent has no authority to sell.
  • buyer has notice at the time of contract
  • buyer has no notice at the time of contract
  • true owner has notice at the time of contract
  • true owner has no notice at the time of contract
A obtains a necklace from B, a jeweller, by playing fraud upon him. This contract is voidable at the option of B. But before B could terminate the contract, A sells the necklace to C who buys it in good faith and without notice of A' defective title.
  • A gets a goods title to goods
  • B gets a good title to goods
  • C gets a good title to goods
  • There is no sale at all
Sale by Mercantile agent is not valid when _________.
  • The buyer is acting in ordinary course of business
  • The buyer knows that the agent has no authority to sell
  • The buyer must act in good faith
  • The possession of the goods must be with the consent of the owner
A person finds goods belonging to another person in a public place. In such a case, the finder _______.
  • becomes owner of the goods
  • does not become owner of the goods, but can use them
  • is under duty to trace the owner and return the goods to him
  • can sell them with out taking any effort to trace the owner
A sells to B $$100$$ bags of wheat lying in C's warehouse. A makes a delivery order to C to transfer the wheat to B. C transfers and holds the $$100$$ bags on behalf of B and by making necessary entries in his books. This is a case of _________.
  • actual Ddlivery
  • constructive delivery
  • symbolical delivery
  • forward delivery
When the property in Goods is transferred to Buyer, Goods are at the ________ risk, irrespective of whether delivery has been made or not.
  • Buyer's
  • Seller's
  • Carrier's
  • All of the above
Risk prime facie passes with ________.
  • Property or ownership
  • Completed agreement
  • Verification and delivery of goods
  • Payment of price
The keys of Warehouse where the goods are stored is handed over to the Buyer. It is called _________.
  • actual
  • symbolic
  • constructive
  • conditional
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