Important Questions CA-CPT Mercantile low

1. Can “coins  of  antiquity” be considered “Goods” under the Sale of Goods Act?
a. Yes
b. No
c. Party Yes
d. None of the above       
Ans. (a)
2. “Jubilee Coins “are goods with  in the meaning of Section 2(7)of the Sale of Goods Act.
a. True
b. Party True
c. False
d. None of above       
Ans. (a)
3. Section ........of the Sale of Goods Act, defines “future Goods”.
a. 2(5)
b. 2(6)
c. 2(7)
d. 2(8)       
Ans. (b)
4. Under the Sales of Good Act, ”future Goods” means-
a. Goods  Which have perished before the contract of sale.
b. Goods which are to be manufactured or acquired by the Seller after making the Contract of Sale
c. Goods which are already available with the Buyer
d. Goods which come into being upon happening of a contingency.            
Ans. (b)
5. Under the Sale of Goods Act, ”...........Goods” means goods which not yet in existence at the time of making the contract of sale.
a. Ascertained Goods
b. Future Goods
c. Specific Goods
d. Perihable Goods            
Ans. (b)
6. Question of insolvency of the Buyer ,is of importance on connection with the seller’s  lien on the goods
a. True
b. Party True
c. Conditionally True
d. False            
Ans. (a)
7. Under the Sae of Goods Act, 1930 the term “Mercantile Agent” means a mercantile agent, having as such agent, authority to-
a. Sell goods of consign goods for the purpose of sale.
b. Buy goods
c.Raise money on the security of goods
d. Do all of the above            
Ans. (d)
8. Under the Sales of Goods Act, 1930 ,”Mercantile Agent” should have authority-
a. In the customary course of business as such agent
b. As specified in the contract of agency
c. As specified by the Buyer
d. As specified by the Seller            
Ans. (a)
9. Under Sec.2(10) of the Sale of Goods Act, ”Price” means the.............for a sale of goods.
a. Price
b. Revenue
c. Cost
d. Value            
Ans. (a)
10. Section ..........of the Sale of Goods Act, 1930 defines the term “Property”.
a. Money Consideration
b. Transfer Value
c. Revenue Consideration
d. Economic Exchange Value        
Ans. (a)
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