Business Law Online Test Questions Part 4
16. _________ bank is the bank with which a person holds an account.
a. Negotiating
b. Credit
c. Debit
d. Collecting
17. Every company must have
a. Easy name
b. A specific name
c. A name similar to existing name
d. Common name
Answer: b. A specific name
| 1] Documents required for opening an account | i] PAN Card, Address proof, Photographs |
| 2] Reason for dishonour | ii] Failure to present the cheque in bank within validity period of the cheque |
| 3] Notice sent by registered post, not claimed | iii] Deemed to be proper service |
| 4] Dishonour of cheque | iv] Section 138 |
| | v] Section 168 |
| | vi] No delivery |
a. 1-iii, 2-vi, 3-iv, 4-ii
b. 1-i, 2-ii, 3-iii, 4-iv
c. 1-v, 2-vi , 3-iv, 4-iii
d. 1-ii, 2-vi, 3-iv, 4-iii
Answer: b. 1-i, 2-ii, 3-iii, 4-iv
a. Banker
b. Endorsee
c. Drawer
d. Payee
20. An agreement is lawful unless it __________
i] Is forbidden by law
ii] Involves money
iii] Is with an insane person
iv] Intends an injury to someone
a. Only i and ii
b. Only i and iv
c. All i, iii, iv
d. All the above
Answer: c. All i, iii, iv
