Corportae and Business Law MCQ Quiz - Objective Question with Answer for Corportae and Business Law - Download Free PDF
Last updated on May 12, 2025
Latest Corportae and Business Law MCQ Objective Questions
Corportae and Business Law Question 1:
The correct sequence in formation of a Contract is:
Answer (Detailed Solution Below)
Corportae and Business Law Question 1 Detailed Solution
The correct answer is Option 2
Key Points The formation of a valid contract under the Indian Contract Act, 1872 follows a specific sequence:
- Offer – One party makes a proposal to do or not do something.
- Acceptance – The other party accepts the offer, turning it into an agreement.
- Agreement – When offer and acceptance meet, a lawful agreement is formed.
- Consideration – A lawful consideration (something in return) is necessary to make the agreement enforceable by law, turning it into a contract.
Top Corportae and Business Law MCQ Objective Questions
Corportae and Business Law Question 2:
Under the UNCITRAL Model Law on International Commercial Arbitration, which of the following will NOT allow a party to apply to court to have the arbitral award set aside?
Answer (Detailed Solution Below)
Corportae and Business Law Question 2 Detailed Solution
The Correct option is option : 1
Corportae and Business Law Question 3:
In relation to arbitration proceedings, identify whether the following statements are true or false.
| True | False | |
| They are less formal than court proceedings | ||
| They tend to be cheaper than court proceedings |
Answer (Detailed Solution Below)
Corportae and Business Law Question 3 Detailed Solution
The Correct option is option : 1
Additional Information:
| True | False | |
| There is more scope for appeal compared to arbitration | X | |
| There is more privacy compared to arbitration | X |
Corportae and Business Law Question 4:
In relation to court action, identify whether the following statements are true or false.
| True | False | |
| There is more scope for appeal compared to arbitration | ||
| There is more privacy compared to arbitration |
Answer (Detailed Solution Below)
Corportae and Business Law Question 4 Detailed Solution
| True | False | |
| There is more scope for appeal compared to arbitration | X | |
| There is more privacy compared to arbitration | X |
Corportae and Business Law Question 5:
The correct sequence in formation of a Contract is:
Answer (Detailed Solution Below)
Corportae and Business Law Question 5 Detailed Solution
The correct answer is Option 2
Key Points The formation of a valid contract under the Indian Contract Act, 1872 follows a specific sequence:
- Offer – One party makes a proposal to do or not do something.
- Acceptance – The other party accepts the offer, turning it into an agreement.
- Agreement – When offer and acceptance meet, a lawful agreement is formed.
- Consideration – A lawful consideration (something in return) is necessary to make the agreement enforceable by law, turning it into a contract.