1. An agency may be created by ----
a) Expressly or impliedly
b) Necessity
c) Ratification
d) All the above
2. ---------- is an agent who sells goods or other property by auction.
a) Del credere agent
b) Auctioneer
c) Factor
d) Broker
3. --------- is a mercantile agent who guarantees the performance of the contract by the third person on the payment oof some extra commission
a) Broker
b) Factor
c) Auctioneer
d) Del credere agent
4.An agency comes to an end by --------
a) Performance of the contract
b) Agreement between the principal and the agent
c) Renunciation of his authority by the agent
d) All of the above
5. An agency is irrevocable --------
a) Where the authority of agency is one coupled with interest
b)Where the agent has incurred personal liability
c) Both (A) and (B)
d) None of the above
6.The Sale of Goods Act, 1930 deals only with goods which are ------- in nature
a) immovable
b) Movable
c) Specific
d) All the above
7.Goods identified at the time of contract of sale is called ---------
a) Specific goods
b) Ascertained goods
c) Clear goods
d) Both (A) and (D)
8.------- is the concept of “Let the buyer beware”.
a) Unfair trade practices
b) Caveat venditor
c) Caveat emptor
d) None of the above
9.----------- and -------- are the two parties’ involved in a contract of sale
a) Customer and sales man
b) Customer and supplier
c) Seller and buyer
d) Agent and principal
10. It is a standard rule that risk follows --------
a) Seller
b) Property
c) Buyer
d) Possession