McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Cost Accounting .
| 551. |
For a valid contract of sale, delivery may be: |
| A. | Actual delivery |
| B. | Symbolic delivery |
| C. | Constructive delivery |
| D. | All of these |
| Answer» D. All of these | |
| 552. |
Delivery of the keys of a godown where goods are kept amounts to: |
| A. | Actual delivery |
| B. | Symbolic delivery |
| C. | Constructive delivery |
| D. | All of these |
| Answer» B. Symbolic delivery | |
| 553. |
Which of the following is a constructive delivery? |
| A. | When the seller hands over the goods physically |
| B. | When the means of obtaining possession is handed over to the buyer |
| C. | When there is delivery by attornment |
| D. | All the above |
| Answer» C. When there is delivery by attornment | |
| 554. |
There are……….modes of delivery |
| A. | Three |
| B. | Two |
| C. | Four |
| D. | Five |
| Answer» A. Three | |
| 555. |
Unless otherwise agreed: |
| A. | Delivery of the goods and payment of the price are concurrent conditions |
| B. | First delivery of goods and then payment of price |
| C. | First payment of price and then delivery of goods |
| D. | No payment no delivery |
| Answer» A. Delivery of the goods and payment of the price are concurrent conditions | |
| 556. |
Unless otherwise agreed, the buyer- |
| A. | must apply for delivery |
| B. | has no duty to ask for delivery |
| C. | must be ready to accept delivery |
| D. | must tell the carrier to visit the seller for delivery |
| Answer» A. must apply for delivery | |
| 557. |
The place of delivery can be- |
| A. | The place where the goods are lying at the time of sale |
| B. | The place where the parties have agreed |
| C. | The place where the goods are manufactured |
| D. | All the above |
| Answer» D. All the above | |
| 558. |
If no time is fixed, the seller must sent them within- |
| A. | Six months |
| B. | Two months |
| C. | Reasonable time |
| D. | One month |
| Answer» C. Reasonable time | |
| 559. |
When goods are in possession of third person, delivery is complete: |
| A. | When such third party acknowledges to the buyer that he holds the goods on his behalf |
| B. | Even though such third party does not acknowledge |
| C. | When the physical possession of the goods is given |
| D. | None of the above |
| Answer» A. When such third party acknowledges to the buyer that he holds the goods on his behalf | |
| 560. |
Where the part delivery is made in progress of the whole delivery, then: |
| A. | It is treated as delivery of the whole |
| B. | It is treated as delivery of the part |
| C. | It is not treated as delivery at all |
| D. | None of these |
| Answer» A. It is treated as delivery of the whole | |
| 561. |
Unless otherwise agreed, the expenses of making delivery are borne by: |
| A. | The carrier |
| B. | The buyer |
| C. | The seller |
| D. | The agent |
| Answer» C. The seller | |
| 562. |
If the seller delivers to the buyer goods ordered mixed with goods of a different description, the buyer may - |
| A. | reject the whole |
| B. | accept the agreed goods and reject the remaining goods |
| C. | either 'a' or 'b' |
| D. | neither 'a' nor 'b' |
| Answer» C. either 'a' or 'b' | |
| 563. |
Which of the following statements is incorrect? |
| A. | Unless otherwise agreed, the goods are not to be delivered by instalments. |
| B. | The delivery of goods to a carrier or a wharfinger in pursuance of a contract of sale, is prima facie deemed to be delivery of goods to buyer. |
| C. | Force majeure clause gives an excuse to the parties in case of non-performance of contract. |
| D. | Any risk of deterioration in the goods necessarily incident to the course of transit shall be borne by the seller |
| Answer» D. Any risk of deterioration in the goods necessarily incident to the course of transit shall be borne by the seller | |
| 564. |
Where goods are delivered to the buyer and he refuses to accept them, having the right so to do: |
| A. | The buyer is not bound to return them to the seller |
| B. | It is sufficient if the buyer intimates to the seller that he refuses to accept them |
| C. | It is duty of a seller to take back the goods |
| D. | All are correct statements |
| Answer» D. All are correct statements | |
| 565. |
In case of carriage of goods by sea, where the seller has to put the goods on board a ship at his own expenses, the contract is known as |
| A. | F.O.B. Contract |
| B. | CLE Contract |
| C. | Ex-ship Contract |
| D. | FAS Contract |
| Answer» A. F.O.B. Contract | |
| 566. |
The events of force majeure render the contract of 'Sale of Goods' |
| A. | Voidable |
| B. | void |
| C. | enforceable |
| D. | unenforceable |
| Answer» B. void | |
| 567. |
In case of carriage of goods by sea, where the seller has to deliver the goods to the buyer at the port of destination, the contract is known as |
| A. | F.O.B. Contract |
| B. | CLE Contract |
| C. | Ex-ship Contract |
| D. | FAS Contract |
| Answer» C. Ex-ship Contract | |
| 568. |
Under a……………contract the seller is required to insure the goods, deliver them to the shipping company, and arrange for their affreightment. |
| A. | F.O.B. Contract |
| B. | CLE Contract |
| C. | Ex-ship Contract |
| D. | FAS Contract |
| Answer» B. CLE Contract | |
| 569. |
The general principle regarding transfer of title in case of sale of goods is that— |
| A. | The seller cannot transfer to the buyer a better title than he himself has |
| B. | The seller can transfer to the buyer a better title than he himself has |
| C. | The buyer can transfer to the seller a better title than he himself has |
| D. | The seller's representative can transfer to the buyer no title |
| Answer» A. The seller cannot transfer to the buyer a better title than he himself has | |
| 570. |
The Seller of Goods is deemed to be an Unpaid Seller when the…………of the price has not been paid or tendered. |
| A. | Whole |
| B. | part |
| C. | substantial portion |
| D. | minimal portion |
| Answer» A. Whole | |
| 571. |
The Seller of Goods is deemed to be an Unpaid Seller when a bill of exchange or other negotiable instrument has been received as conditional payment and the condition — |
| A. | has been fulfilled |
| B. | has not been fulfilled |
| C. | has been waived |
| D. | has not be waived |
| Answer» B. has not been fulfilled | |
| 572. |
The Seller of Goods is deemed to be an Unpaid Seller when……..has been received as conditional payment and the condition has not been fulfilled, by way of dishonour or otherwise. |
| A. | Cheque |
| B. | Promissory Note |
| C. | Bill of Exchange |
| D. | Any of the above |
| Answer» D. Any of the above | |
| 573. |
The term "Unpaid Seller" includes — |
| A. | Agent of the Buyer |
| B. | Agent of the Seller |
| C. | Agent of the Carrier/Transporter |
| D. | All of the above |
| Answer» B. Agent of the Seller | |
| 574. |
The term "Unpaid Seller" includes — |
| A. | Buyer's agent to whom the Bill of Lading is endorsed |
| B. | Buyer's agent to whom the goods have been delivered |
| C. | Seller's agent to whom the Bill of Lading is endorsed |
| D. | Seller's agent to whom the goods have been delivered |
| Answer» C. Seller's agent to whom the Bill of Lading is endorsed | |
| 575. |
Which of the following is not included in the term Unpaid Seller? |
| A. | any person who is in the position of a Seller |
| B. | a consignor or an agent who has himself paid, or is directly responsible for the price. |
| C. | Buyer's agent to whom the Bill of Lading is endorsed |
| D. | Seller's agent to whom the goods have been delivered |
| Answer» C. Buyer's agent to whom the Bill of Lading is endorsed | |
| 576. |
Even if a substantial portion of the price is paid and only a small balance is pending, the Seller is still regarded as an Unpaid Seller. |
| A. | True |
| B. | Partly True |
| C. | False |
| D. | None of the above |
| Answer» A. True | |
| 577. |
Unpaid Seller can exercise his right of lien — |
| A. | even when property in goods has passed to the Buyer |
| B. | only when property in goods has not passed to the Buyer |
| C. | either (a) or (b) |
| D. | neither (a) nor (b) |
| Answer» A. even when property in goods has passed to the Buyer | |
| 578. |
Unpaid Seller can exercise his right of stopping the goods in transit — |
| A. | even when property in goods has passed to the Buyer |
| B. | only when property in goods has not passed to the Buyer |
| C. | either (a) or (b) |
| D. | neither (a) nor (b) |
| Answer» A. even when property in goods has passed to the Buyer | |
| 579. |
Unpaid Seller can exercise his right of re-sale of goods— |
| A. | even when property in goods has passed to the Buyer |
| B. | only when property in goods has not passed to the Buyer |
| C. | either (a) or (b) |
| D. | neither (a) nor (b) |
| Answer» A. even when property in goods has passed to the Buyer | |
| 580. |
Unpaid Seller can exercise his right of withholding delivery of goods — |
| A. | even when property in goods has passed to the Buyer |
| B. | only when property in goods has not passed to the Buyer |
| C. | either (a) or (b) |
| D. | neither (a) nor (b) |
| Answer» A. even when property in goods has passed to the Buyer | |
| 581. |
The right of lien is available to the Unpaid Seller, only when — |
| A. | he is not in possession of the goods |
| B. | he is in possession of the goods |
| C. | he has delivered the goods to the Carrier/ Transporter |
| D. | he has delivered the goods to the Buyer |
| Answer» B. he is in possession of the goods | |
| 582. |
The right of lien is available to the Unpaid Seller, u/s 47 of the Sale of Goods Act, when he is in possession of goods — |
| A. | as an agent of the Buyer |
| B. | as a Bailee for the buyer |
| C. | in his own right |
| D. | all of the above |
| Answer» D. all of the above | |
| 583. |
In which of the following situations, the right of lien available to the Unpaid Seller is lost? |
| A. | Where the Goods have been sold without any stipulation as to credit |
| B. | Where the Goods have been sold on credit, but the credit period has expired |
| C. | Where the Buyer becomes insolvent |
| D. | Where the Unpaid Seller has parted with the possession of the goods. |
| Answer» D. Where the Unpaid Seller has parted with the possession of the goods. | |
| 584. |
Once possession is lost, right of lien of the Unpaid Seller is also lost. This statement is |
| A. | True |
| B. | Partly True |
| C. | False |
| D. | None of the above |
| Answer» A. True | |
| 585. |
Where the goods have been delivered to Rail ways for carriage and the R/R is taken in the name of the seller or his agent: |
| A. | the seller is prima facie deemed to reserve the right of disposal |
| B. | the seller did not retain the right of disposal |
| C. | the seller cannot retain right of disposal |
| D. | none of the above |
| Answer» A. the seller is prima facie deemed to reserve the right of disposal | |
| 586. |
When the goods have been sold on credit and the credit period ……. lien can he exercised |
| A. | has not expired |
| B. | has expired |
| C. | has not been extended |
| D. | has been extended |
| Answer» B. has expired | |
| 587. |
The right of lien can be exercised by the Unpaid Seller in respect of— |
| A. | Price |
| B. | Any other expenses, eg. Godown Charges, Interest, etc. |
| C. | Both (a) and (b) |
| D. | Either (a) or (b) |
| Answer» A. Price | |
| 588. |
The Unpaid Seller………….to deliver a part of the Goods on payment of a proportionate part of the price by the Buyer. |
| A. | shall be bound |
| B. | may refuse |
| C. | must honour his commitment |
| D. | shall request the carrier |
| Answer» B. may refuse | |
| 589. |
Generally, where an Unpaid Seller has made part delivery of the Goods, he — |
| A. | may exercise his right of lien on the remainder |
| B. | has to honour the entire contract |
| C. | loses his lien on the remainder of the goods |
| D. | can supply defective goods in respect of the remainder |
| Answer» A. may exercise his right of lien on the remainder | |
| 590. |
In which of the following cases, the Unpaid Seller does not lose his right of lien — |
| A. | When he delivers the goods to a carrier or other bailee for the purpose of transmission to the Buyer without reserving the right of disposal |
| B. | When the Buyer or his agent lawfully obtains possession of the goods |
| C. | When Seller himself waives the right of lien |
| D. | When Seller obtains a decree for the price of the goods |
| Answer» D. When Seller obtains a decree for the price of the goods | |
| 591. |
Where the Unpaid Seller has obtained a decree for the price of the goods, the right of lien — |
| A. | can be exercised |
| B. | is lost |
| C. | is at the option of the Court |
| D. | is at the option of the Seller |
| Answer» A. can be exercised | |
| 592. |
Where the Unpaid Seller has parted with the goods by handing it over to a carrier for transmission, and the goods are in transit, he can reclaim possession thereof. This right is called — |
| A. | Right of Lien |
| B. | Right of Stoppage of goods in transit |
| C. | Right of withholding delivery of goods |
| D. | Right of Re-sale |
| Answer» B. Right of Stoppage of goods in transit | |
| 593. |
Right of Stoppage in transit can be exercised by the Unpaid Seller, where he — |
| A. | has lost his right of lien |
| B. | still enjoys his right of lien |
| C. | either (a) or (b) |
| D. | neither (a) nor (b) |
| Answer» A. has lost his right of lien | |
| 594. |
Right of Stoppage in transit can be exercised by the Unpaid Seller, where the Buyer— |
| A. | is solvent |
| B. | becomes insolvent |
| C. | acts fraudulently |
| D. | acts smartly |
| Answer» B. becomes insolvent | |
| 595. |
If, after the arrival of goods at their destination, Carrier or other Bailee acknowledges to Buyer or his agent that he holds goods on his behalf, and continues possession of the goods, the transit— |
| A. | is at an end |
| B. | is deemed to continue |
| C. | is not at an end |
| D. | is not affected at all |
| Answer» A. is at an end | |
| 596. |
If goods are rejected by the buyer and the Carrier or other Bailee continues in possession of them, and the seller has refused to receive them back, then transit — |
| A. | is at an end |
| B. | is deemed to be at an end |
| C. | is not deemed to be at an end |
| D. | is dependent on the Court's decision |
| Answer» C. is not deemed to be at an end | |
| 597. |
If, after the arrival of Goods at their destination, Carrier or other Bailee acknowledges to Buyer or his agent that he holds goods on his behalf, and continues possession of the goods, the transit is at an end — |
| A. | even if the buyer indicates further destination for the goods to the Carrier. |
| B. | only when the buyer takes delivery of the goods |
| C. | only when the buyer is solvent |
| D. | only when the seller's agent takes delivery of the goods |
| Answer» A. even if the buyer indicates further destination for the goods to the Carrier. | |
| 598. |
If the Carrier/Bailee wrongfully refuses to de liver the goods to the buyer or his agent, the transit — |
| A. | is at an end |
| B. | is deemed to be at an end |
| C. | is not deemed to be at an end |
| D. | is dependent on the Court's decision |
| Answer» A. is at an end | |
| 599. |
Sub-sale by the buyer with Seller's consent leads to loss of right of stoppage in transit. |
| A. | True |
| B. | Right not affected |
| C. | False |
| D. | None of the above |
| Answer» A. True | |
| 600. |
S sells certain goods to B of Bombay. The goods are handed over to the railways for transmission to B. In the mean time B sells the goods to a third party T for consideration without the consent of S. B. becomes insolvent. In this case — |
| A. | S has the right of stoppage in transit |
| B. | S has lost his right of stoppage in transit |
| C. | Station Master has the right of stoppage in transit |
| D. | None of the above |
| Answer» A. S has the right of stoppage in transit | |
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