In the absence of any express provisions in Law of Negotiable Instruments, which law is applicable?

• A) Contract of guarantee
• B) Contract of sales
• C) Contract act
• D) Contract of agency

Which of the following is the date at which a promissory note or bill of exchange falls due.

• A) Grace period
• B) Payment date
• C) Maturity date
• D) Effective date

Sale of Goods Act, 1930 is applicable to:

• A) All types of property
• B) Both moveable and immoveable property
• C) Immoveable property only
• D) Movable property only

The voluntary transfer of possession of goods from one person to another is called:

• A) Lease
• B) Sale
• C) Mortgage
• D) Delivery

A policy in which the insured pays the premium for specified time and insurer undertakes that in case of loss, a fixed amount shall be paid to the insured without demanding any proof of loss is called:

• A) Endowment policy
• B) Valued policy
• C) Specific policy
• D) Comprehensive Policy

The transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced is called:

• A) Gift
• B) Exchange
• C) Lease
• D) Mortgage

A person who comes into possession of a negotiable instrument, which is payable, is called:

• A) Bearer
• B) Payee
• C) Negotiator
• D) Banker

The transfer of property in the possession of tenant, as per law of property, is called _________.

• A) Sales of movable property
• B) Agreement of sale
• C) Sales of immovable property
• D) Reversion

Which of the following can be categorized as Quasi Negotiable Instruments?

• A) Share Warrants
• B) Government Promissory Notes
• C) Bearer Debentures
• D) All of the above

According to industrial relations ordinance, a person or body of person, whether incorporated or not, who employs workmen in an establishment under a contract of employment is called:

• A) Association
• B) Employer
• C) Executive
• D) Arbitrator

The subject matter of the trust is called its:

• A) Trustee
• B) Property
• C) Purpose
• D) Beneficiary

Which of the following is not true about Lease?

• A) It is the transfer of ownership of the property
• B) The transfer of right must be for a stipulated period
• C) It is the right of enjoyment of property
• D) The consideration must be in the form of rent or premium

Which of the following is true about the essentials of valid acceptance of a bill of exchange?

• A) It must be signed by drawee or his agent
• B) All of the given options
• C) The acceptance must appear on the bill
• D) It must be in writing

Workers have following rights regarding trade union, EXCEPT:

• A) Right to form a trade union
• B) Right to join any trade union
• C) Right to leave any trade union at any time
• D) Right to be a member of more than one trade union at any one time

The closing of place of employment or suspension of work by an employer is called:

• A) Lockout
• B) Strike
• C) Industrial dispute
• D) Settlement

Which of the following is not a party in cheque?

• A) Payee
• B) Maker
• C) Drawee
• D) Drawer

Under Article 64-A a suit under Order XXXVII of the Code of Civil Procedure, is required to be filed within 3 years from the date when the debt becomes payable immediately where a promissory note makes it obligatory on the holder to sue on expiry of _________ after notice to pay was given.

• A) Three Days
• B) Two days
• C) Seven days
• D) Four days

A person carrying on the business of insurance is known as:

• A) Takaful
• B) Policy holder
• C) Insurer
• D) Insurance broker

All of the following are kinds of promissory notes, EXCEPT:

• A) A promise to pay a certain sum of money to the order of a certain person
• B) A promise to pay the bearer
• C) A promise to pay a certain sum of money to a person
• D) A promise to pay the issuer

The differences and industrial disputes can be settled through all of the following methods, EXCEPT:

• A) Conciliation
• B) Negotiations
• C) Association
• D) Arbitration