Business Law MCQ on Transfer of Ownership: Check the below Business Law MCQ on Transfer of Ownership with Answers Pdf free download. Business Law MCQ on Transfer of Ownership Questions for Business Law with Answers were prepared based on the latest exam pattern. We have provided Business Law MCQ on Transfer of Ownership with Answers to help students understand the concept very well.

Business Law MCQ on Transfer of Ownership

1. For passing of property in respect of specific or ascertained goods, the intention of the parties can be ascertained from _________.
(a) Terms of the contract
(b) Conduct of the parties
(c) Circumstances of the case
(d) All of the above

2. Under the Sale of Goods Act, 1930, the term “Mercantile Agent” means a mercantile agent, having as such agent, authority to _________.
(a) sell goods or consign goods for the purposes of sale
(b) buy goods
(c) raise money on the security of goods
(d) do all of the above

3. Property in the goods ‘in the Sale of Goods Act means’ _________.
(a) ownership of goods
(b) possession of goods
(c) asset in the goods
(d) custody of goods

4. Transfer of documents of title to the goods sold to the buyer, amounts to _________.
(a) actual delivery
(b) symbolic delivery
(c) constructive delivery
(d) none of these

5. It is necessary to determine the precise moment of time at which the ownership of goods passes from seller to the buyer because _________.
(a) risk passes with property
(b) action can be taken only by the owner
(c) suit for price by the seller does not lie unless the property has passed to the buyer
(d) all the above

6. A Share Certificate is a _________.
(a) Document of Title to Goods
(b) Bill of Exchange
(c) Document Showing Title to Goods
(d) Instrument of Transfer

7. For passing of property in goods, the goods must be in _________.
(a) deliverable state
(b) manufacturing stage
(c) consumable state
(d) marketing state

8. A Bill of Lading is a _________.
(a) Bill of Exchange
(b) Promissory Note
(c) Cheque
(d) Document of Title to Goods

9. The ownership in specific goods to be put in deliverable state passes _________.
(a) When the seller has brought the goods into a deliverable state and the buyer has notice thereof
(b) When the goods are brought in deliverable state by the seller
(c) The contract is made
(d) When the intention is clear

10. When a bill of exchange in sent together with documents of title, the property in goods passes when the buyer.
(a) Receives the Bill of Exchange
(b) Returns the Bill of Exchange
(c) Accepts the Bill of Exchange
(d) None of these

11. When the goods are sent on sale or return basis, the property in the goods passes to the buyer:
(a) When the buyer signifies his approval or acceptance to the seller
(b) When the buyer pledges the goods
(c) When the buyer resells the goods
(d) All the above

12. Under the Sale of Goods Act, 1930, “Wharfinger’s Certificate” is a _________.
(a) Document of Title
(b) Document showing Title
(c) Certificate equivalent to a Negotiable Instrument
(d) Delivery Order

13. A seller sends the goods and takes the railway receipt in his own name at the buyer’s place the seller has _________.
(a) Reserved the right of disposal of goods
(b) Not reserved the right of disposal of goods
(c) May reserve the right of disposal of goods
(d) The question of reserving the right of dis-posal does not arise

14. Sale of goods by a mercantile agent gives a good title to the purchaser even in cases where the agent acts beyond his authority, provided the following conditions are satisfied _________.
(a) The agent is in possession of the goods or of a document of title to the goods
(b) The agent sells the goods in the ordinary course business
(c) The purchaser acts in good faith and has no notice that the agent had no authority to sell
(d) All the above

15. “Nemo dat quad non habet”, means:
(a) no one is greater than god
(b) none can give who does not himself possess
(c) every one can give everything he has
(d) everyone is bound by is habit

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