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CBSE Questions for Class 12 Commerce Legal Studies Topics Of Law Quiz 1 - MCQExams.com
CBSE
Class 12 Commerce Legal Studies
Topics Of Law
Quiz 1
The legislative branch of government is responsible for..........
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Express an opinion on a specific issue through a motion.
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Right to assess
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To instigate a parliamentary investigation into a specific issue
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Enacting Laws
Who states that "Every agreement and promise enforceable at law is a contract."
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David M Walker
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Sir Pollock
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Sir Salmond
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Sir William Anson
A, B & C are partners. They promised to give Rs. $$60,000$$ to D. If C dies, who will perform contract?
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A, B
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A, B & C's legal representative
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A & B not required to perform
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None of the above
Choose the correct answer from the alternatives given.
The measure of damages In case of breach of a contract is the difference between the
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Contract price and the market price at the date of breath
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Contract price and the maximum market price during the term of the contract
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Contract price and the price at which the plaintiff might have sold the goods
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Contract price and the price fixed by Court
Which Act was passed to check corruption?
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Prevention of Corruption Act, 1988
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Food and Adulteration Act, 1955
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Central Commodities Act, 1955
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None of the above
Explanation
The Prevention of Corruption Act, 1988
is an Act of the Parliament of India enacted to combat corruption in government agencies and public sector businesses in India.
Past consideration is one that is wholly suffered by the _______ even before making of the agreement.
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promisee
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promisor
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endorser
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all of the above
Which of the following statements is not correct?
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The law of contract is not the whole law of obligations
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The law of contract is the whole law of obligations
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The law of contract is not the whole law of agreements
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None of the above
Rule of product so established as to justify a prediction with reasonable certainty which will be enforced by Courts. This type of definition of law comes under the class.
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Sociological definition of law
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Reallist definition of law
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Historical definition of law
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None of the above
Explanation
The jurisprudence of law gave birth to different schools of jurisprudence such as:
Natural school of law which says that to actually understand a certain law, an individual must be aware of its purpose and to comprehend the true nature of law, one must consult the courts and not the legislature.
Historical school propounded by Savigny which said that Law is a matter of unconscious and organic growth and
the nature of law is not universal. Just like language, it varies with people and age.
Under Positivistic definition of law by John Austin, l
aw is the aggregate set of rules set by a man as politically superior, or sovereign to men, as political subjects.
The Sociological school defines law as
“essentially and exclusively as a social fact.”
The law is a means of social control. and to serve the purposes of the society and naturally is coercive.
Realist law definition describes the law in terms of judicial processes. As per this school law is a statement of the circumstances in which public force will be brought to bear upon through courts.
According to Benjamin Nathan Cardozo “A principle or rule of conduct so established as to justify a prediction with reasonable certainty that it will be enforced by the courts if its authority is challenged, is a principle or rule of law.”
What does the postal rule state?
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That acceptance occurs as soon as the letter is posted.
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That acceptance occurs when the letter is received by the offeror.
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That acceptance occurs when the letter is read by the offeror.
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That acceptance does not occur if the letter is lost in the post .
"From the law" can be written as _____________.
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De jure
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De novo
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De facto
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None of the above
Explanation
De jure is a Latin legal maxim which means 'according to the law' or 'by the law'.
It is legally binding and recognised by the law. De jure has been in use under various sectors.
For example, ABC company is de jure organization that means it is legally recognised association.
Hence, A is the correct option.
A contract made with word spoken is a _________.
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express contract
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implied contract
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quasi contract
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executed contract
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all of these
Which of the following is not a proposal ?
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Price list or catalogue
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Menu card of restaurant
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Time table of railways
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All of the above
The following is NOT a meaning of law, as described by Savigny's theory ______________.
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Law is universal in Nature.
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Law is found each and not made
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Law is the art of what is equitable and good
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Law is found and not made.
Explanation
Savigny, a prominent German jurist through his concept of Volksgeist introduced a new
dimension in the legal arena and explains
the need to understand the interrelationship between
law and people. Law and people cannot be isolated from each other.
Savigny observed that the nature of any particular system of law, was the reflection of the “spirit
of the people who evolved it.
Savigny remarked that law has a national character and it is found and developsed and not made, like language and binds people into one whole because of their common faiths, beliefs and convictions.
Savigny stated that in the earliest stages, law develops spontaneously according to the internal needs of the community but after the community reaches a certain level or civilisation, the different kinds of national activities, hitherto developing as a whole, bifurcate in different branches to be taken up for further study by specialists such as jurists, linguists, anthropologists, scientists etc.
Savigny considered law as a continuous and unbreakable process bound by common cultural traditions and beliefs.
According to section 25 of the Indian Partnership Act, 1932, the liability of a partner is ________.
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joint
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several
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joint and several
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none of the above.
Which is the specific kinds of contract?
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Contracts of Indemnity
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Contracts of Guarantee
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Agreement
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Contract
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(A) and (B) both are
Which of the following statement is not correct?
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On OTCEI the transaction is settled within 7 days.
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Issued capital of company should be between Rs. 30 lakhs and 25 crores.
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Under Securities Contract Regulation (SCRA) Act 1956, minimum specified capital should be Rs. 5 crores.
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Derivatives can be used to change the risk characteristics of underlying asset or liability.
Explanation
Under SCRA minimum capital should be Rs.3 Crores. establishment of OTCEI helps small and medium size companies so that companies with capital of Rs. 30 Lakhs can sought listing o OTCEI.
What is the doctrine of stare decisis?
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The doctrine of sovereignty
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The beginning of case
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The statutory law
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The doctrine of precedent
Explanation
The doctrine of precedent is the correct option.
The stare decisis is a Latin legal maxim which signifies 'already decided'. The doctrine of state decisis embodies the rule or guidance which are followed by the courts in order to get an idea. Those cases can be referred for the help in the judgement. It works only in the similar case which has happened before it's also regarded as landmark judgement.
As per law the minimum age for the marriage of a boy and a girl in India is-
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21 years in both cases
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18 years and 21 years respectively
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21 years and 18 years respectively
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18 years in both cases
Explanation
As per section 2(a) of the Prohibition of Child Marriage Act, 2006, “child” means a person who, if a male, has not completed twenty-one years of age, and if a
female, has not completed eighteen years of age. Hence, in India,
the minimum age for the marriage of a boy and a girl
is
21 years and 18 years respectively
Intra vires
means _____________.
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within the power
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between living persons
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amongst other things
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None of the above
Explanation
Intra vires is a Latin legal maxim which means within the power. That simply means there is a boundary. It refers to the law which is within the jurisdiction of court or the government . Intra vires may equivalently be termed as valid.
Hence, A is the correct option.
In case name, the first name usually identifies ___________________.
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The person who is defending the case
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The person against whom the action is brought
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The person who is bringing the court action
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The person who is accused
Explanation
Case Citation
Example
Roy v Amit 204 AIR 209 (1980)
In this example,
Roy v. Amit - Case name. Usually the first name identifies who is bringing the court action and the second name is the person against whom action is being brought.
204 - Volume number
AIR - Name of reporter
209 - Beginning page
1980 - Year of decision
Roy - Person who is bringing the court action
Amit - Person against whom action is being brought.
Which of the following statement is correct?
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Statement made obiter dicta from the basis of precedent established in a case.
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A statement made obiter dicta are of persuasive authority.
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Statements made obiter dicta are binding or all courts.
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Statements made obiter dicta have no influence on courts.
Explanation
The Latin term obiter dicta means “things said by the way,” and is generally used in law to refer to an opinion or non-necessary remark made by a judge. In a legal ruling, made by a higher court, the actual decision becomes binding precedent. Remarks about such things as how the court came to its decision are not binding but are persuasive nature. as the additional information is given to provide context for the judicial opinion.
Public holidays are declared under _____________.
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Negotiable Instruments Act, 1881
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Contract Act, 1872
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Public Employees Act, 1967
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None of the above
DIRECTIONS: (Qs. 92-97)Given below/ a statement of principle followed by a failual situation. Apply the principle to the faile given below and dselect the most appropriate answer
Criminal Law (Amendment) Act, 2013 does not provide that:
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A rape convict can be sentenced to a term not less than 20 years
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Death sentence to repeat offenders
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Stalking and voyeurism are bailable offences
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Acid attack convicts can get a 10 year jail term.
Explanation
The Criminal Law (Amendment) Act, 2013, an Indian legislation passed by the Parliament which provides for amendment of Indian Penal Code, Indian Evidence Act, 1872 and Code of Criminal Procedure, 1973 on laws related to sexual offences. Its features include:
A minimum jail term of 20 years which may go up to life in prison or death sentence, for the rape of a girl under 12 years. While perpetrators involved in the gangrape of a girl below 12 years of age will get life imprisonment or death.
If somebody throws acid and causes permanent or partial damage or deformity will be punished with imprisionment of minimum less than 10 years, which
Stalking and voyeurism under the newly added sections 354D and 354C respectively has been made a bailable offence. Voyeurism be punished with upto seven years in jail; stalking or attempts to contact a person repeatedly through any means by up to three years.
In Ram v/s Shyam, Ram cannot be a _____________.
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Plaintiff
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Appellants
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Defendant
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Prosecutor
The main aim of the competition Act 2002 is to protect the interests of _______________.
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The multinational corporation
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The Indian companies
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The consumers
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The market
Legal phrases are followed by four meanings. Choose the most appropriate option:
'Jus Gentium' means:
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Global administrative law
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Law of Societies
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Law among Nations.
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Global justice.
Explanation
'Jus Gentium' means 'International law' or 'law among nations' . It was derived from ancient Romans or Western legal rules . These are common in some nations that's why it's known as law among nations .
Choose the correct answers from the following alternatives given
X and Y both believe that a particular kind of rice Is being sold in the market at Rs. 10,000 , par quintal and X sells rice of that kind to Y at Rs. 10,per quintal. But,. in fact, the market price was Rs. 12,The contract is
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Valid
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Void
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Voidable
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Illegal
Choose the correct answer from the alternatives given.
Which of the following is correct?
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Recession must be communicated to the other party in the same manner as a proposal is communicated.
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Recession must be revoked in the same manner as a proposal is communicated.
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Communication of recession is optional.
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Both (a) & (b)
Choose the correct answer from the alternatives given.
Which of the following is correct?
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Free consent is not important, if consideration is preset, even if the consideration is inadequate.
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Anticipatory breach and anticipatory bail are actually the same thing
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The concept of damage allows one to make some gain out of it.
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All of the above are incorrect.
An offer made to a Specific person or a group of persons is known as _____.
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Standing Offer
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Specific Offer
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Special Offer
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Separate Offer
Choose the correct answers from the following alternatives given
A tells his wife that he would commit suicide, if she did not transfer her personal assets to him. She does so under his threat.
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The Wife can avoid the contract
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The wife cannot avoid the contract
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The husband can enforce the contract
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Both (b) & (C).
DIRECTIONS (71-80): This section consists of fifty(50)questions. Each question consists of legal propositions/ principles (hereinafter referred to as 'principle') and facts These principles have to be applied to the given facts to arrive at the most reasonable conclusion Such principles may or may not be true in the real sense, yet you have to conclusively assume them to be true for the purposes of this section In other words, in answering the following questions, you must not rely on any principles except the principles that are given here in below for every question. Further you must not assume any facts other than those stated in the question. The objective of this section is to test your interest towards study of law, research aptitude and problem solving ability even if the "most reasonable conclusion" arrived at may be unacceptable for any other reason. It is not the objective of this section to test your knowledge of law.
Principle: Every agreement in restraint of the marriage of any person, other than a minor, is void.
Facts : Qadir Khan in a road accident, Two co-widows, Sultana and Marjina enter into an agreement that if any of them will remarry, would forfeit her right to her share in the deceased husband's property.
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The agreement is void because it was restraint of marriage
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The agreement is not void because no restraint was imposed upon either of two widows for remarriage
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The restraint was partial so agreement is valid
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None of the above
Explanation
Section 26 of the Indian Contract Act of 1872 states that every agreement in restraint of marriage, except those in restraint of marriage of minors, is void upon the grounds of public policy.
In the present case, there was an agreement between the co-widows of Qadir Khan that any one of them remarry. would forfeit her right to her share in the deceased husband's property, would forfeit her right to her share in the deceased husband's property. This agreement is restraining the marriage of the widows who are not minor an hence, the agreement is void because it was restraint of marriage .
Which of the following statements are true regarding the Constitution (One Hundred and First Amendment) Act, 2016?
I. GST Act is a comprehensive direct tax on manufacture, (sale and consumption of goods and services) throughout India.
II. The Act will transform India into a common market, harmonising myriads of State and Central levies into a national goods and services tax which is expected to boost manufacturing and reduce corruption.
III. It provides for Constitution of a Goods and Services (Tax Council by inserting Article 297A in the Constitution.
IV. GST will be based on input tax credit method.
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I, II and III
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II, III and IV
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I, II and IV
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All of the above
In which year were the states re-organized on linguistic basis?
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1966
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1956
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1951
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1947
"Reduction in rate of taxation leads to more than proportionate increase in tax yield".This law is known as ____________.
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Giffins Effect
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Laffer Effect
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Gresham's Law
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None of the above
Explanation
In economics, the Laffer curve is a representation of the relationship between rates of taxation and the resulting levels of government revenue.Proponents of the Laffer curve claim that it illustrates the concept of taxable income elasticity-i.e., taxable income will change in response to changes in the rate of taxation.
The Election Commission is competent to __________________.
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recognise political parties
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derecognise political parties
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decide disputes relating to the allotment of symbols to political parties
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All of these
Define vicarious liability.
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Liability of the principle for the tort of his agent.
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Liability of partners for each other
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Liability of the master for the tort of his servant
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All of theabove
Explanation
The doctrine of vicarious liability holds that there can be a person responsible for the actions of another because of a special relationship the parties maintain, like employee/employer, principal/agent and parent/child.
A contract is ________.
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without consideration
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valid if the party is a minor
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an agreement enforceable by law
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all of the above
The relation between the partners of a partnership firm is created by
Contract
Birth
Status
Select the correct answer from the options given below:
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1 only
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1, 2 only
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2, 3 only
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1, 2 and 3
Explanation
Partnership is an association of two or more persons who agreed to do business jointly and share profits and losses in agreed ratio. It is an agreement made by two or more parties. This relation is created by contract. No person becomes partner by birth or by status.
The delimitation of the territorial constituencies in India is the responsibility of the ____________.
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President.
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Governor.
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Election Commission
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Parliament.
Which of the following state government has prohibited use of the word Harijan replaced it with Anusuchit Jati in official work?
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Karnataka
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Jammu and Kashmir
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Rajasthan
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Uttar Pradesh
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None of these
Principle
: An agreement may be entered into orally or in writing, or by conduct.
Facts
: 'A' went to the shop of 'B' and picked a tooth brush and gave a cheque of Rupees twenty to 'B' and left the shop.
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'A' should have carried a currency note of Rupees twenty to make the payment.
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There was an agreement between 'A' and 'B'.
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Payment of toothbrush cannot be made through a cheque.
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'A' did not enter into an agreement with 'B'
Explanation
According to section 2(e) every promise and every set of promises, forming the consideration for each other, is an agreement. The reasonable conclusion drawn that there was agreement between A and B.
Law of contract is ________________.
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the whole law of agreements
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the whole of obligations
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the whole law of agreements and obligations.
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not the whole law of agreements nor is it the whole law of obligations.
This question consists of legal proposition(s)/principle(s) (hereinafter referred to as 'principle') and facts. Such principles may or may not be true in the real and legal sense, yet you have to conclusively assume them to be true for the purposes of this Section. In other words, in answering these question. Further, you must not assume any facts other than those stated in the question. The objective of this section is to test your interest towards study of law, research aptitude and problem solving ability, even if the 'most reasonable conclusion' arrived at may be absurd or unacceptable for any other reason. It is not the objective of this section to test your knowledge of law.
Therefore, to answer a question, principle is to be applied to the given facts and to choose the most appropriate option.
PRINCIPLE : Negligence is actionable in law. In simple terms, negligence is the failure to take proper care over something.
FACTS : A, a doctor, conducted a hysterectomy sincerely on B and left a small cotton swab inside the abdomen. As a consequence of which B developed some medical problems and had to undergo another surgery. Is A liable?
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A is not liable as he did not foresee any consequences at the time of surgery.
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Liability for negligence does not arise here as A performed the operation sincerely
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A is liable for the negligence as he failed to take proper care during the surgery.
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As only a small swab was left in the abdomen, there was no negligence.
Explanation
A is liable for the negligence as he failed to take proper care during surgery .
A , who's a doctor it was his duty to take care of B and to take proper care during surgery . But he left small cotton swab he failed to do so his duty , he's liable under negligence .
Judgmental shortcuts in decision making is called _________.
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Directive
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Heuristic
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Representative
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Availability
Legal phrases are followed by four meanings. Choose the most appropriate option:
Bona vacantia
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Order of the court for eviction
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Vacant land
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Goods that have no owner
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Vacant building.
Explanation
'Bona Vacantia' means Goods that have no owner .
Bona vacantia is a legal term or maxim derived from English legal concept . It refers to a property which has no crown , owner or successes left , or any next generation to own property . In mode day , this concept applies to the dissolution of companies .
Choose the correct answer from the alternatives given.
Which of the following persons are not competent to contract?
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minors
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persons of unsound mind
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persons disqualified by law
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all of these
Choose the correct answer from the alternatives given.
The special damages, i.e., the damages which arise due to some special or unusual circumstances:
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Are not recoverable altogether
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Are illegal being punitive in nature
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Cannot be claimed as a matter of right
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Can be claimed, as ,a matter of right
This question consists of legal proposition(s)/principle(s) (hereinafter referred to as 'principle') and facts. Such principles may or may not be true in the real and legal sense, yet you have to conclusively assume them to be true for the purposes of this Section. In other words, in answering these question. Further, you must not assume any facts other than those stated in the question. The objective of this section is to test your interest towards study of law, research aptitude and problem solving ability, even if the 'most reasonable conclusion' arrived at may be absurd or unacceptable for any other reason. It is not the objective of this section to test your knowledge of law.
Therefore, to answer a question, principle is to be applied to the given facts and to choose the most appropriate option.
PRINCIPLE : A person is said to do a thing fraudulently, if he does that thing with intent to defraud, but not otherwise.
Facts : 'A' occasionally hands over his ATM card to 'B' to withdraw money for 'A'. On one occasion 'B' without the knowledge of 'A', uses 'A's ATM card to find out the balance in 'A's account, but does not withdraw any money.
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'B' has committed misappropriation
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'B' has committed the act fraudulently
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'B' has committed breach of faith
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'B' has not committed the act fraudulently
Explanation
An agreement made for a "fraudulent" purpose is illegal , viz an agreement to defraud creditors , or to defraud revenue authorities , or investors in a company . But if two persons agree not to compete with each other . In this case , B uses A's ATM card but not withdrawal any money then , B hasn't commuted his act fraudulently.
Legal phrases are followed by four meanings. Choose the most appropriate option:
'Punctum Temporis' means
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Functional authority
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Temporary position
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Timely assistance
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Point of time.
Explanation
Punctum Temporis means 'point of time' ,
an indivisible period of time; the shortest space of time; an instant Calvin.
It is derived from the Latin language .
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Practice Class 12 Commerce Legal Studies Quiz Questions and Answers
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