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Business Law 2nd Edition Tejpal Sheth - Solutions
Write a short note on import and export of Indian currency. (Ref. Para-16.12)
What are the provisions for acceptance of deposit by Indian company from NRI/PIO? (Ref. Para-16.11)
What are the provisions for opening and maintaining the branch office or place of business in India by the person resident out of India? (Ref. Para-16.10)
Explain the provisions for acquiring and transferring immovable property out of India by the Indian citizen or persons of Indian origin. (Ref. Para-16.9)
Explain the provisions for acquiring and transferring immovable property in India by the foreign nationals. (Ref. Para-16.8)
Which are the prohibited capital account transactions? (Ref. Para-16.7)
Explain the meaning of the term ‘capital account transaction’ under the FEMA?
In which cases can exports of goods or services be made without furnishing the declaration? (Ref. Para-16.6)
What are the provisions of the FEMA, relating to the export of goods and services? (Ref. Para-16.6)
Which are the current account transactions for which the Foreign Exchange can be drawn subject to the prior approval of the RBI? (Ref. Para-16.5)
Which are the current account transactions for which the Foreign Exchange can be drawn subject to the prior approval of the Central Government? (Ref. Para-16.5)
Which are the current account transactions for which drawal of Foreign Exchange is prohibited? (Ref. Para-16.5)
What do you understand by the current account transactions? (Ref. Para-16.5)
What are the duties of the authorized person? (Ref. Para-16.4)
What do you mean by the expression ‘authorized person’? Explain the provisions relating to the authorized person. (Ref. Para-16.4)
How will you determine whether a particular business unit like a factory or office, is ‘person resident in India’ under the FEMA? (Ref. Para-16.3)
Define the term ‘person resident in India’ and ‘person resident outside India’. (Ref. Para-16.3)
Define the following termsa. Currencyb. Currency notec. Foreign currencyd. Foreign Exchangee. Foreign securityf. Import g. Security h. Transfer (Ref. Para-16.3)
Bring out the significant differences between the Foreign Exchange Regulation Act, 1973 and Foreign Exchange Management Act, 1999. (Ref. Para-16.2)
Defect under the Consumer Protection Act can be for(i) goods. (iii) both (i) and (ii).(ii) services. (iv) none of the above.
Any can be consumer(i) natural person (iii) both (i) and (ii)(ii) artificial person (iv) none of the above
State Commission and National Commission shall have same power as are vested in the(i) civil court. (iii) fast track court.(ii) criminal court. (iv) special court.
Which relief can not be obtained by consumers from commission?(i) Imprisonment for six months.(ii) Not to offer the hazardous goods for sale.(iii) To stop manufacturing of hazardous goods.(iv) All of the above.
Which relief can be obtained by consumers from commission?(i) To remove defects from goods.(ii) Not to offer the hazardous goods for sale.(iii) To stop manufacturing of hazardous goods.(iv) All of the above.
Usually a complaint can be made to district forum, state commission or national commission within period of years from the date on which the cause of action has arisen.(i) one (iii) three(ii) two (iv) five
District Forum shall have same power as are vested in the(i) civil court. (iii) fast track court.(ii) criminal court. (iv) special court.
An appeal filed with State or National Commission shall be heard as expeditiously as possible and efforts will be made to dispose an appeal with in period of days.(i) 30 (iii) 90(ii) 60 (iv) reasonable time
Any person aggrieved by an order of the National Commission can appeal against order of the National Commission to the Supreme Court within period of(i) 15 days. (iii) 45 days.(ii) 30 days. (iv) reasonable time.
Any person, aggrieved by an order of the National Commission can appeal against order of the National Commission to the(i) High Court. (iii) Magistrate Court.(ii) Supreme Court. (iv) any of the above as per person’s choice.
The State Commission shall have jurisdiction to entertain complaints where the value of the goods or services and the compensation claimed does not exceed(i) ` 20,00,000. (iii) ` 25,00,000.(ii) ` 5,00,000. (iv) ` 1,00,00,000.
The District Forum shall have jurisdiction to entertain complaints where the value of the goods or services and the compensation claimed does not exceed(i) ` 20,00,000. (iii) ` 25,00,000.(ii) ` 5,00,000. (iv) ` 1,00,00,000.
Every member of the District Forum, shall hold office for term of years or up to age of 65 years.(i) 5 (iii) 3(ii) 4 (iv) 10
Consumer disputes redressal agencies include(i) District Forum. (iii) National Commission.(ii) State Commission. (iv) all of the above.
Under the Consumer Protection Act, shall constitute State consumer protection council.(i) Central Government (iii) President of India(ii) State Government (iv) Supreme Court
Under the Consumer Protection Act, shall constitute central consumer protection council.(i) Central Government (iii) President of India(ii) State Government (iv) Supreme Court
Trade practice which tends to bring about manipulation of conditions of delivery of goods amount as(i) fraud. (iii) restrictive trade practice.(ii) unfair trade practice. (iv) none of the above.
Trade practice which tends to bring about manipulation of price amount as(i) fraud. (iii) restrictive trade practice.(ii) unfair trade practice. (iv) none of the above.
Representation by the seller that he has sponsorship or approval which the seller does not have amount as(i) defect in goods. (iii) restrictive trade practice.(ii) deficiency in service. (iv) unfair trade practice.
Under the Consumer Protection Act, service does not include(i) rendering service free of cost.(ii) rendering service under a contract of personal service.(iii) both (i) and (ii).(iv) neither (i) nor (ii).
Under the Consumer Protection Act, complaint means(i) allegation in writing.(ii) oral allegation.(iii) claim in writing.(iv) oral claim for damage.
Under the Consumer Protection Act, complainant means(i) Central or State government.(ii) legal representative of the deceased consumer.(iii) both (i) and (ii).(iv) neither (i) nor (ii).
Under the Consumer Protection Act, complainant means(i) consumer. (iii) State Government.(ii) Central Government. (iv) all of the above.
The provisions of Consumer Protection Act is applicable to(i) goods. (iii) goods or service.(ii) service. (iv) goods and service.
What are the powers available by the dispute redressal agencies under Act?
What is the procedure to deal with a complaint made under the Consumer Protection Act? (Ref. Para-15.9)
Explain reliefs available under the Consumer Protection Act, 1986. (Ref. Para-15.8)
What is the limitation period for filing of complaint under the Act? (Ref. Para-15.7)
Explain the nature and scope of the remedies under the Act. (Ref. Para-15.6,15.8)
Write short note on District Forum and State Commission. (Ref. Para-15.6)
Where an aggrieved consumer can file complaint under the Consumer Protection Act? (Ref. Para-15.6)
Who can file a complaint? Can a parent or guardian of minor file complaint on his behalf? (Ref. Para-15.5)
Complainant means any person. Comment. (Ref. Para-15.5)
Can an association of persons seek remedy under the Consumer Protection Act, 1986? (Ref. Para-15.5)
State whether a person purchasing of a sewing machine for earning her livelihood is a consumer? (Ref. Para-15.4)
What do you understand by unfair trade practices? (Ref. Para-15.4)
Explain the word ‘consumer’ under the Consumer Protection Act with suitable examples. (Ref. Para-15.4)
Write a short note on deficiency in service. (Ref. Para-15.4)
Write a short note on consumer.
Write a short note on commercial purpose under the Consumer Protection Act. (Ref. Para-15.4)
What constitutes a complaint under the Consumer Protection Act? (Ref. Para-15.4)
What are the basic rights available to consumers? (Ref. Para-15.3)
Briefly explain the salient features of the Consumer Protection Act. (Ref. Para-15.2)
Discuss in details the objects of Consumer Protection Act. (Ref. Para-15.1)
A hundi when paid up and cancelled is then called(i) perpeth. (iii) khoka.(ii) purja. (iv) none of these.
The duplicate of a hundi is known as(i) perpeth. (iii) khoka.(ii) peth. (iv) purja.
A letter of protection given by a drawer to the holder of a hundi which enables him to receive payment in case of dishonour is known as(i) zickri chit. (iii) khoka.(ii) perpeth. (iv) purja.
A hundi which is payable to the holder or bearer is known as(i) nam jog hundi. (iii) jawabi hundi.(ii) firman hundi. (iv) dhani jog hundi.
A hundi which is payable ‘at sight’ is known as(i) miadi hundi. (iii) darshani hundi.(ii) zikri hundi. (iv) none of these.
A hundi is an indigeneous negotiable instrument, written in local language of people which may be in the form of either a bill of exchange or a promissory note.(i) True(ii) False
In which of the following circumstances a banker may refuse to make the payment of his customer’s cheque?(i) Where cheque is post dated.(ii) Where cheque is stale.(iii) Where funds are insufficient.(iv) In all the above cases.
A negotiable instrument made without any consideration at all is(i) void between all parties. (iii) void between immediate parties.(ii) voidable between all parties. (iv) voidable between immediate parties.
Which of the following negotiable instrument is not entitled to days of grace?(i) A bill of exchange payable on specified date.(ii) A promissory note payable on specified date.(iii) A promissory note payable ‘after sight’.(iv) A cheque.
The negotiable instruments payable on a specified date are due for payment(i) from the specified date. (iii) from third day after specified date.(ii) from the date of issue. (iv) after presentment for sight.
The negotiable instruments payable on demand are due for payment(i) from third day of date of issue. (iii) after 15 days of date of issue.(ii) from the date of issue. (iv) after 30 days of date of issue.
The payment of a negotiable instrument becomes due(i) at maturity. (iii) after maturity.(ii) before maturity. (iv) on third day of maturity.
The payment of a cheque containing special crossing can be obtained(i) by depositing in any bank. (iii) at the counter of named bank.(ii) by depositing in named bank. (iv) either (i) or (iii).
The payment of a crossed cheque can be obtained(i) at the counter. (iii) by the payee only.(ii) by depositing in account. (iv) both (i) and (iii).
After receiving an uncrossed cheque its holder can make on it(i) general crossing. (iii) either (i) or (ii).(ii) special crossing. (iv) neither (i) nor (ii).
A cheque is said to contain a special crossing when two parallel lines are drawn across the face of the cheque and by writing between the lines the(i) name of bank. (iii) a/c payee only.(ii) name of bank and ‘& Co.’ (iv) in (i) and (ii) cases.
A cheque is said to contain a general crossing when two parallel lines are drawn across the face of the cheque(i) without any words. (iii) with words ‘not negotiable’.(ii) with words ‘& Co.’ (iv) in all the above cases.
Which of the following is not a material alteration?(i) Alteration of date. (iii) Alteration of time of payment.(ii) Alteration of amount. (iv) Alteration correcting clerical mistake.
Material alteration of a negotiable instrument without the consent of the parties, discharge the parties who have become liable(i) after such alteration. (iii) because of alteration.(ii) prior to such alteration. (iv) without such alteration.
The liability of which of the following parties comes to an end when negotiable instrument is discharged ?(i) Primarily liable party. (iii) Subsequent liable party.(ii) Secondarily liable party. (iv) None of the parties.
With reference to negotiable instrument the ‘noting’ may be done in case of(i) promissory note. (iii) cheque.(ii) bill of exchange. (iv) both (i) and (ii).
In case of dishonour of a cheque, the holder’s remedy is against the(i) drawee of cheque. (iii) indorsee of cheque.(ii) drawer of cheque. (iv) both (i) and (iii).
A bill of exchange is treated as dishonoured due to non-acceptance where the drawee(i) does not accept within 48 hours of presentment.(ii) is incompetent to contract.(iii) gives a conditional acceptance.(iv) in all the above cases.
A negotiable instrument should be presented for payment to the party who is(i) primarily liable. (iii) willing to make payment.(ii) secondarily liable. (iv) any person who can make payment.
Which of the following note must be presented for sight?(i) A note payable at sight. (iii) A note payable on demand.(ii) A note payable after sight. (iv) All of the above.
Which of the following bill of exchange must be presented for acceptance of the drawee?(i) A bill payable on demand. (iii) A bill payable 30 days after date.(ii) A bill payable on fixed date. (iv) None of these.
The presentment for payment is required in case of a(i) bill of exchange. (iii) cheque.(ii) promissory note. (iv) all of these.
The presentment for acceptance is required in case of a(i) bill of exchange. (iii) cheque.(ii) promissory note. (iv) both (i) and (ii).
On the acceptance of the bill of exchange by the drawee, the liability of the drawer becomes(i) primary. (iii) extinct.(ii) secondary. (iv) none of these.
The liability of the acceptor of a bill of exchange is(i) primary. (iii) conditional.(ii) secondary. (iv) none of these.
The liability of the maker of a promissory note is(i) primary. (iii) conditional.(ii) secondary. (iv) none of these.
When during the course of negotiation, the negotiable instrument comes back to the original endorser, it is known as(i) negotiation back. (iii) facultative endorsement.(ii) reverse endorsement. (iv) back recourse endorsement.
An endorsement by which the endorser excludes his liability by express words is known as(i) facultative endorsement. (iii) sans recourse endorsement.(ii) restrictive endorsement. (iv) contingent endorsement.
An endorsement made by an endorser by signing his name and also by writing the name of the endorsee is known as(i) general endorsement. (iii) restrictive endorsement.(ii) special endorsement. (iv) none of these.
A slip of paper attached to the back of instrument for signing endorsements is known as(i) allonge. (iii) zickri chit.(ii) escrow. (iv) peth.
A negotiable instrument is complete and operative when:(i) it is in writing. (iii) it is delivered to the party concerned.(ii) it is signed. (iv) all of the above.
In case, a finder or a thief of a bearer negotiable instrument transfers it to a person who receives the same in good faith and for valuable consideration then such a transferee is(i) entitled to receive the payment. (iii) punishable for helping a thief.(ii) not entitled to receive the payment.
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