Q.1. A hires B’s ship to go to Bombay, and there takes on board, on the first of January, a cargo, which A is to provide, and to bring it to Calcutta, the freight to be paid when earned. B’s ship does not go to Bombay, but A has opportunities of procuring suitable conveyance for the cargo upon terms as advantageous as those on which he had chartered the ship. A avails himself of those opportunities but is put to trouble and expense in doing so.
(a) A is not entitled to receive compensation from B in respect of such trouble and expense
(b) A is entitled to receive partial compensation from B in respect of such trouble and expense
(c) A is entitled to receive compensation from B in respect of such trouble and expense
(d) None of these
Q.2. A hires B’s ship to take in and convey, from Calcutta to Mauritius, a cargo to be provided by A, B receiving a certain freight for its conveyance. A does not provide any cargo for the ship.
(a) A cannot claim the performance of B’s promise
(b) A must make compensation to B for the loss which B sustains by the non-performance of the contract
(c) either (A) or (B)
(d) both (A) and (B)
Q.3. A instructs B, a merchant, to buy a ship for him. B employs a ship-surveyor of good reputation to choose a ship for A. The surveyor makes the choice negligently and the ship turns out to be unseaworthy and is lost.
(a) B is but not the surveyor is, responsible to A
(b) B and the surveyor is, responsible to A
(c) B is not, but the surveyor is, responsible to A
(d) None of these
Q.4. A is employed by B to buy from C certain goods, of which C is the apparent owner, and buys them accordingly. In the course of the treaty for the sale. A learns that the goods really belonged to D, but B is ignorant of that fact.
(a) B is entitled to set-off a debt owing to him from C against the price of the goods
(b) B is partially entitled to set-off a debt owing to him from C against the price of the goods
(c) B is not entitled to set-off a debt owing to him from C against the price of the goods
(d) None of these
Q.5. A is employed by B to buy from C goods of which C is the apparent owner. A was before he was so employed a servant of C and then learnt that the goods really belonged to D, but B is ignorant of the fact.
(a) Despite the knowledge of his agent, B may not set-off against the price of the goods a debt owing to him from C
(b) Despite the knowledge of his agent, B may partially set-off against the price of the goods a debt owing to him from C
(c) Despite the knowledge of his agent, B may set-off against the price of the goods a debt owing to him from C
(d) None of these
Q.6. Arbitration Act makes provision for conciliation and arbitration as________________?
(a) ADR mechanisms (ADR)
(b) SDR
(c) Scheme for Sustainable Structuring of Stressed Assets (S4A)
(d) All of above
Q.7. An arbitrator is basically a ________________ judge appointed with consent of both the parties
(a) Private
(b) Public
(c) Either a or b
(d) Both of them
Q.8. What is the meaning of Arbitration?
(a) Submission by two or more parties of their disputes to the judgment of a third person called ‘arbitrator’
(b) Who has to decide the dispute in an impartial manner
(c) Following principles of natural justice.
(d) All of above
Q.9. Object of arbitration is___________?
(a) Settlement of dispute in an expeditious, convenient, inexpensive and private manner
(b) So that they do not become the. The subject of future litigation between the parties
(c) Both of them
(d) None of above
Q.10. “participant” means a person registered as such under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992(15 of 1992): is mentioned under which section of the Depository Act, 1996?
(a) Section 2(f)
(b) Section 2(g)
(c) Section 2(h)
(d) Section2 (i)
Answers
1. Correct Answer: C
2. Correct Answer: D
3. Correct Answer: C
4. Correct Answer: C
5. Correct Answer: C
6. Correct Answer: A
7. Correct Answer: A
8. Correct Answer: D
9. Correct Answer: D
10. Correct Answer: B