All India Management Association (AIMA) 2007 M.B.A Marketing Management Business Law - II - Question Paper
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(d) Presence of insurable interest is essential
(e) Amount payable as compensation depends on different factors including intention of the insured.
( 1 mark)
32. The Reserve Bank of India (RBI) acts as a banker to Government of India and all State Governments. Which of the subsequent functions is not carried by the RBI as a banker to Government of India?
(a) Maintaining cash balances
(b) Receiving and making payments for Governments
(c) Issue and regulation of currency
(d) Managing public debt
(e) Providing ways and means advances to Government for 90 days.
( 1 mark)
33. Which of the subsequent instruments payable to ‘bearer of the instrument on demand’ can be drawn and accepted by any citizen of India under the Negotiable Instruments Act, 1881?
(a) A hundi
(b) A cheque
(c) A demand draft
(d) A promissory note
(e) A bill of exchange.
( 1 mark)
34. Which of the subsequent conditions is/are needed to be satisfied for the treatment of a writ petition as Public Interest Litigation?
I. The writ petition should involve a question, which affects public at large or group of people, and not a single individual.
II. Only the affected/aggrieved person can file a writ petition.
III. There should be a specific prayer, asking the Court to direct the State Authorities to take note of the complaint/allegation.
(a) Only (I) above
(b) Both (I) and (II) above
(c) Both (I) and (III) above
(d) Both (II) and (III) above
(e) All (I), (II) and (III) above.
( 1 mark)
35. When a person is guilty of an illegal omission causing any common injury to the people who dwell in general in the vicinity of his premises, it amounts to
(a) Malignant act likely to spread infection of dangerous disease to life
(b) Negligent act likely to spread infection of dangerous disease to life
(c) Negligent conduct with respect to poisonous substance
(d) Public nuisance
(e) Negligent conduct with respect to explosive substance.
( 1 mark)
36. Ramnath Enterprises and Bhairav & Co., submitted their business dispute to conciliation. However, during the pendency of the conciliation proceedings, Ramnath Enterprises felt that their dispute could not be solved by conciliation and hence, it decided to take the reason of action to the Court. Which of the subsequent statements is actual in these circumstances under the Arbitration and Conciliation Act, 1996?
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