1. LEGAL PRINCIPLE: It is a crime to pass off counterfeit notes as actual currency notes knowingly.
FACTUAL SITUATION: Ramesh took some currency notes to be deposited in the bank. However the bank found them to be counterfeit notes and got Ramesh arrested.
(a) Ramesh is liable since he used counterfeit notes.
(b) Ramesh is liable since his transaction involved the bank, even if unknowingly.
(c) Ramesh is not liable as he did not know that the notes were counterfeit.
(d) Ramesh is not liable since the transaction was not accepted.
2. LEGAL PRINCIPLE: Keeping silence as to facts which can affect the will of a contracting party is not fraud unless it is duty of the person to speak the facts.
FACTUAL SITUATION: Roshan and Bharath are food grain traders. Bharath wants to buy wheat of about 50 kilograms from Roshan. Roshan knew that prices of wheat will fall heavily in the coming week. This information was withheld from the former. So when the sale was made, in the coming week Bharath suffered heavy losses. Is Roshan liable?
(a) The contract was void as facts were hidden.
(b) Roshan acted fraudulently and hence should compensate for the losses.
(c) Roshan is not liable as he was not bound to reveal that information.
(d) Roshan is liable as he violated business ethics.
The answers are: 1. (c); 2. (c).
1. If it is possible to make only one meaningful word with the first, the third, the fifth and the eighth letters of the word SHAREHOLDING, which of the following will be the second letter of that word? If no such word can be made, give ‘X’ as the answer and if more than one such word can be made, give ‘Y’ as the answer.
2. How many such pairs of letters are there in the word GLIMPSE each of which has as many letters between them in the word as in the English alphabet?
3. In a certain code BREAK is written as ASDBJ. How is SOLAR written in that code?
4. Which of the following does not have the same relationship as that of Cloth : Garments?
(a) Leather : Footwear
(b) Wood : Furniture
(c) Earthen pots : Clay
(d) Gold : Ornaments.
5. Which of the following expressions will be true if given expression K ≥ G > H ≤ F is definitely true?
(a) F ≥ K
(b) H < K
(c) F < G
(d) K ≥ H.
The answers are: 1. (d); 2. (c); 3. (c); 4. (c); 5. (b).
1. Statement: Should “literacy” be the minimum criterion for becoming a voter in India?
I. No. Mere literacy is no guarantee of political maturity of an individual.
II. Yes. Illiterate people are less likely to make politically wiser decisions of voting for a right candidate or party.
III. No. Voting is the constitutional right of every citizen.
(a) Only I and II are strong
(b) Only III is strong
(c) Only II and III are strong
(d) All are strong.
2. Statement: The economic condition continues to be critical even after a good harvest season.
I. The economic condition was not critical before the harvest season.
II. The economic condition could not have improved without a good harvest season.
III. The economic condition was expected to improve after a good harvest season.
(a) Only I and II are implicit
(b) Only II is implicit
(c) Only II and III are implicit
(d) Only III is implicit
The answers are: 1. (d); 2. (d).