Law online test - Professional Knowledge

Law:

Below are previous year Law Specialist Officer questions.

1. Escrow is a term used to denote ___

A. Negotiability of the instrument

B. An instrument incomplete in respect of date

C. an instrument without consideration

D. Conditional delivery of the instrument

2. What is the maximum amount of fee payable for filing a Recovery case with the Debt recovery Tribunal?

A. Rs. 1 lakh                        B. Rs. 1,20,000                   C. Rs. 1,50,000                   D. 12% of the debit amount

3. The unfair Trade Practice includes:

A. Quality and Quantity                                                 B. Potency and Purity

C. Standard and price of goods and services        D. All the above

4. The difference between Sale and Bailment is:

A. Ownership is transferred to Buyer in the sale

B. Buyer has no obligation to return the goods

C. In the contract of Bailment –both A and B are not applicable

D. Both A and B

5. Which of the following is not the essential of a contract?

A. Transfer of ownership                                                                              B. Immediate delivery of goods

C. The contract must satisfy essentials of a valid contract               D. Goods must be a movable property

6. A Private company is which:

A. Restricts the right to transfer its shares

B. Limits the number of members to 50

C. Restricts the subscription of shares or debentures from the public

D. All of the above

7. The essentials of a valid contract are:

A. There Should be an offer                                                        B. Offer must be accepted

C. The parties to the consent must have free consent    D. None of the above

8. What are the rights available to a secured creditor?

A. To sell the assets

B. File application with DRT for recovery of full or remaining dues

C. To proceed against the guarantor                                       

D. All of the above

9. Who can be a partner of a firm?

A. Any person who is competent to contract

B. Any adult individual who is of sound mind

C. HUF represented by Karta

D. All of the above

10. Z is reported to have died. Some amount has been deposited by one of the debtors of Z in the bank account of Z.

A. bank cannot credit the amount

B. bank can credit the amount

C. bank can credit the amount with the permission of the nominee or legal heirs

D. bank can credit the amount with the permission of court only