CA Intermediate Corporate And Other Law Test Series-9

Test Preparation on CA Intermediate Corporate and Others law Test Series-9

1.

Jane has appointed Vinita as his agent to sell the garments manufactured by Jane. Vinita due to her personal issues could not work effectively. Hence, she appointed Kanth to sell on her behalf. Can Jane be bound by the acts of Kanth?

1No, an agent without authority cannot lawfully appoint a sub-agent.
2Yes, Vinita is liable for the acts of Kanth, and in turn, Jane is liable for the transaction.
3No, Kanth will be liable on his own account for any sales made.
4Yes, Kanth now becomes a direct agent of Jane as Kanth has sold garments manufactured by Jane.

2.

Days of grace provided to the Instruments at maturity is—

11 day
22 days
33 days
45 days

3.

Parties to a negotiable instrument can be discharged from liability by

1Cancellation
2Payment
3Release
4All of the above

4.

Validity period for the presentment of cheque in the bank is—

13 months
26 months
31 year
42 years

5.

A negotiable instrument that is payable to order can be transferred by:

1Simple delivery
2Indorsement and delivery
3Indorsement
4Registered post

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