Law Legal Studies

Property and Trust Law

1,910 Questions

Property and trust law covers ownership rights, leases, adverse possession, and the transfer of assets. These legal principles are fundamental for judiciary exams, UPSC, and state PSCs. Practice these questions to understand property rights and related legal procedures thoroughly.

Adverse possession principlesFee simple absolute ownershipMesne profits legal codeHOA community regulationsReal estate appraisal rules

Property and Trust Law Questions

Multiple choice book keeping and accountancy company accounts part - 2 (accounting for debentures) introduction to debentures meaning and features of debentures meaning of debentures

In the event of liquidation of the company the debenture holders have prior right for __________.

  1. interest

  2. principal amount

  3. both (a) & (b)

  4. none of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In the event of liquidation, debenture holders have a prior claim over shareholders, but they are not the only ones with priority. Other creditors and statutory dues often rank higher or equal, so 'none of the above' is the most accurate choice given the options.

Multiple choice book keeping and accountancy company accounts part - 2 (accounting for debentures) introduction to debentures meaning and features of debentures meaning of debentures

Debenture Trust Deed is created by -

  1. The company

  2. The Trustees

  3. The SEBI

  4. The company Law Tribunal
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The document created by the company, whereby trustees are appointed to protect the interest of debenture-holders before they are offered for public subscription is known as Debenture Trust Deed.

Multiple choice book keeping and accountancy company accounts part - 2 (accounting for debentures) introduction to debentures meaning and features of debentures meaning of debentures

Debenture Trust Deed must be executed within-

  1. $1$ month of the closure of issue
  2. $3$ months of the closure of issue
  3. $6$ months of the closure of issue
  4. $1$ month before the opening of issue
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

 A trust deed shall be executed by the issuer company in favour of the debenture trustees within six months of the closure of the issue.

Multiple choice book keeping and accountancy company accounts part - 2 (accounting for debentures) introduction to debentures meaning and features of debentures meaning of debentures

Who is not eligible to be appointed as Debenture Trustee:

  1. A Scheduled Bank

  2. A Public Financial Institution

  3. An Insurance Company

  4. A partnership firm carrying on banking Business
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Legal regulations typically prohibit a partnership firm from acting as a debenture trustee, as the trustee must be an independent corporate entity or institution capable of holding assets in trust, such as a bank or financial institution.

Multiple choice book keeping and accountancy company accounts part - 2 (accounting for debentures) introduction to debentures meaning and features of debentures meaning of debentures

Debenture Trustess are to be appointed in case of issue of:

  1. All Debentures
  2. Debentures with maturity of more than $18$ months
  3. Debentures with maturity of lessthan $18$ months

  4. Convertible Debentures
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

No Public Issue/Rights Issue of Debentures shall be made by a company unless it has appointed one or more Debenture Trustees for such debentures whereas under SEBI guidelines, appointment of Debenture Trustees is compulsory only in case of debentures with maturity of 18 months or more.

Multiple choice elements of business joint stock company 1 - definition, classification, advantages and disadvantages meaning and features of joint stock company concept, features, advantages and disadvantages of joint stock company ownership structures - joint stock company

Who has the power to transfer the joint porperty of HUF so as to bind the interest of both adult and minor coparceners?

  1. Son's of the HUF

  2. Duaghters of the HUF

  3. All the co-parceners of HUF

  4. Karta of HUF
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In a Hindu Undivided Family (HUF), the Karta is the manager and head of the family, and he has the authority to manage and transfer family property for the benefit of the family.

Multiple choice book keeping and accountancy company accounts - issue of debentures issue of debentures for consideration other than cash types of debentures issue of debentures at par, premium, discount, collateral security and for consideration other than cash

Which of the following is not a characteristic of Bearer Debentures?

  1. These are treated as negotiable instruments.

  2. Their transfer requires a deed of transfer.

  3. These are transferable by mere delivery

  4. The interest on it is paid to the holder.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Bearer debentures are negotiable instruments (A true), transferable by mere delivery (C true), with interest paid to the holder (D true). Their defining feature is that no deed is needed for transfer - simple delivery suffices. Option B is false - their transfer does NOT require a deed.

Multiple choice commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

Which among the following is/are the type(s) of lien?

  1. Particular lien

  2. General Lien

  3. Both (a) and (b)

  4. Neither(a) nor (b)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Lien is the right to retain possession of goods until a debt is paid. It is classified into particular lien (for specific services) and general lien (for any balance due).

Multiple choice commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

Which of the following relationships do not raise a presumption of dominance of will?

  1. Trustee and Beneficiary

  2. Doctor and Patient

  3. Husband and Wife

  4. Father and Son
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

While many relationships (like doctor-patient or father-son) imply a fiduciary duty or dominance, the law does not automatically presume that a husband dominates the will of his wife.

Multiple choice commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

The essential features of a bailment are

  1. There is a contract

  2. There is change in possession of goods

  3. The ownership is not transferred

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Bailment involves the delivery of goods for a specific purpose, a contract (express or implied), transfer of possession without transfer of ownership, and the return of goods once the purpose is fulfilled.

Multiple choice commerce performance of contract who will perform the contract performance, discharge, breach and remedies of contract business law and contract act

M, by a gift deed transferred certain property to her daughter, with a direction that daughter should pay an annuity to M's brother, as had been done by M. On the same day, the daughter executed a deed in writing in favour of M's brother, agreeing to pay annuity. Afterwards, she declined to fulfil her promise saying that no consideration had moved from her uncle. Which of the following statements is correct?

  1. The daughter is bound to pay annuity

  2. There is no valid consideration in this contract

  3. M's brother is a third party to the contract and cannot sue

  4. The daughter is not bound to pay annuity
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Even if consideration did not move from the uncle, the daughter is bound because the consideration moved from the mother (M) to the daughter, and the uncle is a beneficiary of the contract.

Multiple choice economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

Rent paid by a residential tenant to the owner is a part of ________.

  1. capital formation

  2. final consumption

  3. intermediate consumption

  4. consumer durable
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is a final consumption as over here the residential tenant is the final consumer. Moreover, paying rent to the owner does not involve any  intermediate consumption.

Multiple choice economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

Which category of land is rent-less land?

  1. First category of land

  2. Second category of land

  3. Third category of land

  4. Marginal land
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Rent, for a land in the case of cultivation land, refers to the difference between the value of the produce and the cost of cultivation. Marginal land is the last grade of land cultivated whose price of produce is just equal to the cost incurred. Thus, it is a rent-less land, since the cost of cultivation is equal to the value of the produce.