CA Foundation - Business Laws & Regulatory Framework

Contract Act, Sale of Goods, Partnership & Companies Act question bank (Mercantile & Corporate Laws)

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Q1.

Lifting the Corporate Veil: In which landmark English case was the principle of Separate Legal Entity of a company firmly established in 'Indian Contract Act 1872: Nature of Contracts, Offer, Acceptance, Consideration and Free Consent'?

(A)

Salomon v. Salomon & Co. Ltd. (1897) AC 22 (Indian Contract Act 1872: Nature of Contracts, Offer, Acceptance, Consideration and Free Consent)

(B)

Daimler Co. Ltd. v. Continental Tyre Co.

(C)

Gilford Motor Co. v. Horne

(D)

Foss v. Harbottle

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Q2.

Quasi Contracts: Which section of the Indian Contract Act 1872 deals with the obligation of a person enjoying the benefit of a non-gratuitous act to compensate the provider in 'Indian Contract Act 1872: Nature of Contracts, Offer, Acceptance, Consideration and Free Consent'?

(A)

Section 70 (Obligation of person enjoying benefit of non-gratuitous act) (Indian Contract Act 1872: Nature of Contracts, Offer, Acceptance, Consideration and Free Consent)

(B)

Section 68 (Claim for necessaries)

(C)

Section 72 (Money paid by mistake or coercion)

(D)

Section 65

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