Regulation India – Chapter 3

Which of the following Act governs all the listed and unlisted companies incorporated in India?

Which of the following bodies is established under Companies Act specializing in the function of adjudicating issues related to companies in a speedy manner?

For a company to be registered as a public company what is the minimum number of members required?

For a company to be registered as a private company what is the minimum number of members required?

Which of the following document states the object for which the company is formed?

—-of a company shall contain the regulations for management of the company and the provision for entrenchment

A— is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner.

A person for whose benefit trust is created—

In India Trust is governed by:

If person dies without making a will, he is said to have died—-

—– is a “legal declaration of the intention of the testator with respect to his property, which he desires to be carried into effect after his death.”

The person making the will is the—-

—– is a legal document that states the settlor wishes and sets up the trust.

Which of the following is least likely the function of trustee?

Which of the following statements is correct?
Statement 1: A trust which has been created by Will can be revoked by the testator
Statement 2: A trustee cannot delegate the trust office in normal circumstances to a co-trustee unless provided for such arrangement in the instrument of the trust, or with consent of the beneficiary who should be competent to the contract.

The Government of India, in order to prevent undesirable transactions in securities and to regulate the working of stock changes in the country, enacted the—

Which of the following Act seeks to maintain the foreign exchange market in India, ensure its growth, make and amend laws governing foreign exchange with a view to facilitate transactions and external trade?

—-refers to the tactics adopted to legitimize currency and assets acquired through illegitimate activities, often referred to as transmutation of illegal acquisitions.

Which of the following laws deals with the issues of money laundering, prevents and controls the same apart from confiscating and seizing the assets created out of laundered money?

A —-is a legally enforceable agreement made between two or more parties towards providing of a product or service, or towards performance of an act.

Which of the following statements is correct?
Statement 1: An agreement not enforceable by law is a void contract
Statement 2: An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract.

—is a contract to do something, only in case of happening of a collateral event

Which of the following statements is correct?
Statement 1: Contingent contracts cannot have legal enforceability unless and until collateral event has happened
Statement 2: In case of the contingent event becoming impossible, such contracts become voidable.

—-is a contract where a promiser in a contract promises to save the other from loss to be incurred in the performance of the contract.

—is a contract to perform the promise or discharge the liability of a third party in case of the promisor’s default.

—is a contract where the delivery of goods by the delivering person, to the person who is delivered, in the course of a defined purpose which once accomplished, mandates that the goods be returned to bailor or otherwise disposed of according to the bailor’s direction.

Which of the following statements regarding agency is incorrect?
Statement 1: The relationship of agency should compulsorily have a consideration.
Statement 2: Contracts entered into through an agent and the acts undertaken thereto would have the same obligations and legal enforceability as if the contracts had been entered into and the acts done by the principal in person

Which of the following is a feature of LLP?

Which of the following statements is incorrect?