Implied authority of the partner does not empower him to

Open a bank account on behalf of the firm in his own name.
Compromise or relinquish any claim or portion of a claim by the firm against an outsider.
Both of the above.
None of the above

The difference in consideration under English law and Indian law are:

Under English law past consideration is no consideration whereas under Indian Law past consideration is good consideration.
Under English law consideration must move from the promisee only and no other person whereas under Indian Law consideration may move from the promisee or any other person
Under English law formal contracts i.e. one which is one in writing do not require any consideration whereas under Indian Law all contracts are required to be supported by consideration.
All of the above

A condition may be treated as warranty in the following cases:

Where the buyer altogether waives the performance of the condition.
Where the buyer elects to treat the breach of condition as one of a warranty.
In both of the above situations.
In some other situations, but not in the above situations

Contracts may be classified on the basis of their validity, formation or performance. Contracts classified on the basis of formation are of the following types:

Express Contracts.
Implied Contracts.
Quasi Contracts.
All of the above

An agreement induced by mistake of fact is void if the following conditions are fulfilled:

Both the parties must be under the same mistake.
The mistake must be as to some fact.
The fact must be essential to the agreement.
All of the above

The following is not a ‘document of title to goods’:

Bill of lading.
Dock-warrant.
Stamped acknowledgement for receipt of goods.
Warehouse keeper’s certificate.

An offer may be made to the following:

A particular person.
A particular group or body of persons.
The public at large i.e. the whole world.
All of the above

A contract of sale may be made by

Immediate deelivery of the goods
Immediate delivery and immediate payment
Delivery or payment or both at some future date
All of the above

In case of eatables and provisions, implied conditions can be applied are:

Implied condition as to merchantability
Implied condition as to wholesomeness
Implied condition as to quality/fitness
Both (a) and (b)

Which of the following is correct:

The liability of partners of a firm is unlimited.
Generally the liability of a member of a company is limited but it can be unlimited.
The liability of partner of firm is same as a member of any company.
Both option (a) and (b).

UnAttempted

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Attempted

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Correct

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Wrong

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Complete