Legal Aspects Of Business Online Line Examination

An acceptance is valid when the offeree accepts all the conditions of the offer. This means that the offeree agrees to all the terms and requirements set forth in the offer without any modifications or additions. By accepting all the conditions, the offeree demonstrates their willingness to be bound by the terms of the offer, indicating a clear and unambiguous acceptance. This ensures that both parties are in agreement and can proceed with the terms of the offer as originally presented.

The correct answer is both (A) and (B). Contingent contracts are those where the performance of the contract depends on the occurrence of a specific event. In this case, both the contract of insurance and the contract of guarantee are contingent contracts because the obligations of the parties are dependent on certain events happening, such as an accident or default. The contract to deliver goods on receipt from the factory is not a contingent contract as it does not depend on any specific event, but rather on the receipt of goods from the factory.

The main object of a contract of sale is the transfer of property in goods from the seller to the buyer. This means that the ownership and legal rights of the goods are transferred from the seller to the buyer. It goes beyond just the transfer of possession or delivery of goods, as it involves the transfer of ownership and all associated rights and responsibilities. Payment of price is also an important aspect of a contract of sale, but it is not the main object as it is dependent on the transfer of property in goods.

The correct answer is "Cyber." The laws contained in the Information Technology Act 2000 pertain to cyber-related activities and offenses. This act was established to address various cybercrimes such as hacking, data theft, online fraud, and other cyber-related offenses. It provides legal provisions and guidelines for dealing with cybercriminal activities and ensuring the security and integrity of electronic transactions and information.

The party who gives indemnity is known as the indemnifier. This means that they are the one who provides compensation or protection against any loss or damage that may occur to the indemnity-holder. The indemnifier takes on the responsibility of covering any potential liabilities or risks that the indemnity-holder may face.

The correct answer is "as per (A), (B) and (C)". This means that the appropriation of goods must comply with conditions (A), (B), and (C) that have been previously mentioned. It is essential for both the buyer and seller to agree on the appropriation, and it must be unconditional. This ensures that both parties are in consent and that the goods are allocated appropriately.

A condition that is essential to the main purpose of the contract of sale means that it is a crucial requirement or provision that must be fulfilled in order for the contract to be valid. This condition directly affects the core objective or intention of the contract and is necessary for its fulfillment.

Damping refers to an illegal practice where an intending purchaser is prohibited from bidding or increasing the price at an auction sale. This could be done by intimidating or threatening the potential buyer, thereby preventing them from participating in the auction process. It is a deceptive tactic used to manipulate the auction and restrict fair competition among buyers.

The expression "Caveat Emptor" is a Latin phrase that translates to "Let the buyer be aware." This phrase is often used in the context of commerce and serves as a warning to buyers that they are responsible for assessing the quality and condition of a product before making a purchase. It emphasizes the importance of conducting due diligence and being cautious when entering into a transaction, as the buyer assumes the risk and cannot hold the seller accountable for any defects or issues that may arise after the purchase.

National Consumer Day in India is celebrated on 24th December. This day is observed to promote consumer rights and raise awareness about the importance of consumer protection. It commemorates the enactment of the Consumer Protection Act, 1986, which aims to safeguard the rights of consumers and provide them with a platform to address grievances. On this day, various programs and campaigns are organized to educate consumers about their rights and responsibilities and to ensure fair trade practices.

A share of any company is a form of ownership in the company, which entitles the shareholder to a portion of the company's profits, also known as income, and the right to participate in the distribution of the company's capital. This means that shareholders have the right to receive dividends from the company's income and may also benefit from any increase in the value of the company's capital.

A statutory company or corporation is one that is incorporated either by an Act of Parliament or by an act of State legislature. This means that the company is created and governed by specific legislation passed by either the central government or the state government. This distinguishes a statutory company from other types of companies that are incorporated under the Companies Act 1956, which is a general law governing the formation and operation of companies in India.

A minor's agreement is considered void from the beginning because minors are not legally capable of entering into a binding contract. This means that any agreement made by a minor is not enforceable by law. The rationale behind this is to protect minors from being taken advantage of or making decisions that they may not fully understand. Therefore, the agreement is deemed invalid and has no legal effect from the moment it is made.

The question asks for a mode of delivery that is not included in the given options. The options include constructive delivery, actual delivery, and symbolic delivery. However, "quality delivery" is not a mode of delivery. Quality refers to the standard or level of excellence, but it does not describe a specific method or mode of delivery. Therefore, quality delivery is not a valid option in this context.

Consent means "consensus ad idem," which refers to a meeting of the minds or a mutual agreement between parties. It implies that all parties involved have a clear understanding and agreement on the same terms and conditions. This term is often used in legal contexts to ensure that all parties have given their informed and voluntary consent to a particular agreement or contract. It emphasizes the importance of shared understanding and agreement between parties to avoid misunderstandings or disputes in the future.

A person who promises to discharge another's liability in a contract of guarantee is known as a surety. The surety is legally bound to fulfill the obligations of the principal debtor if they fail to do so. The surety acts as a form of security for the creditor, ensuring that they will be compensated if the principal debtor defaults on their obligations.

A factor is a merchantile agent who is given possession of goods for the purpose of selling them. They act as an intermediary between the seller and the buyer, handling the sales process and ensuring that the goods are sold at the best possible price. Factors often provide additional services such as credit checks, financing, and collection of payments. Unlike brokers who simply facilitate the transaction, factors take possession of the goods and assume some level of risk. Therefore, the correct answer is factor.

In a sale, if the goods are destroyed, the loss falls on the seller. This is because until the goods are delivered to the buyer, the seller retains ownership and responsibility for the goods. Therefore, any loss or damage that occurs before the transfer of ownership is the seller's liability.

A contract comes into existence by the proposal made by one party and the assent to that proposal by the other party. However, for a contract to be valid and enforceable, it must also meet the requirement of being enforceable by law. This means that the terms and conditions of the contract must be legally binding and can be enforced in a court of law if necessary. Therefore, the correct answer is Proposal+Assent to the Proposal+Enforceability by Law.

Consideration refers to the act of doing or abstaining from doing something at the request or desire of the promisor. In other words, it involves fulfilling a request or following a specific instruction from the person making the promise. This is the correct answer because consideration is an essential element in the formation of a valid contract, and it requires some form of exchange or benefit between the parties involved.