Question86:-Any company purchasing its own shares involves a permanent
reduction of capital and the company cannot reduce its capital without prior
permission of the

A:-ROC

B:-SEBI

C:-NCLT

D:-Supreme Court
Correct Answer:- Option-C

Question87:-Once the Tribunal passed the dissolution order, the company has to file
a copy of the order with the ROC within days.

A:-30
B:-45
C:-60
D:-120
Correct Answer:- Option-A
Question88:-Identify the void contract
A:-A promises, for no consideration, to give B '1,000/-

B:-A, for the natural love and affection, promises to give his son B, '1,000/-. A
put his promise to B into writing and registers it.

C:-A finds B's purse and gives it to him. B promises to give A '50/-.

D:-A owes B '1,000/- but the debt is barred by the Limitation Act. A sign written
promises to pay B '500 on account of the debt.

Correct Answer:- Option-A

Question89:-M, who is a dealer in Sports car only, agrees to sell to N '5 Cars". This
agreement is

A:-Valid contract

B:-Void contract
C:-Voidable contract
D:-Unenforceable contract
Correct Answer:- Option-A

Question90:-"Every promise and every set of promises, forming the consideration
for each other, is

A:-a contract
B:-an agreement
C:-a legal obligation
D:-enforceable by law
Correct Answer:- Option-B
Question91:-Two parties exchange identical offers with each other. They are