1.In a contract of sale there is NO implied condition that:

a.The seller must have a tile to the goods.

b.The goods must correspond to the description where there is sale by description.

c.The goods must suit the purpose of the buyer.

d.The bulk must correspond to the sample in case of sale by sample.

17. Preference Share Holders:

a)Have voting rights on all matters of the company.

b)Have Preference in payment of dividends.

c)Are creditors of the Company.

d)Do not have Charge on ASSETS of the company on liquidation.

18.On 20^th Dec 2010, Hussain gives a guarantee of Abid to Ali for any sum upto 5 M which Ali may lendto Abid over a period of 2 years. Ali lends to Abid upto 2.5 M during first five months. On 12^th Nov 2011 Hussain dies, unaware of this fact Ali keeps lending money to Abid and further lends him Rs. 2 M. He comes to know about the death on 29^th Nov 2011 and stops further payment when he comes to know about death of Husain. Abid becomes insolvent subsequently. As regards the legal position between the two:

a.Hussain's heirs will be responsible for the entire amount of 4.5 M to Ali if Abid fails to pay.

b.Heirs will only be responsible upto 2.5 M that is till the death of Hussain.

c.Heirs will not be responsible to pay anything at all as they were not part of the contract.

d.Ali will have to bear the loss as the surety has now died and Abid has become insolvent.

19.Following have a general Lien:

a.Policy Brokers.

b.Factors.

c.Attorneys of a high Court.

d.All the above.

20.Following are the type of companies:

a.Guarantee company.

b.Parliamentary Company.

c.Trust Company.

d.All of the above.