Business Law Regular Previous Year Question Paper Year 2005 : IInd Year

(Commercial Law)

Q. I. (A) Explain the term ‘Consideration’ and state the exceptions to rule ‘No consideration, no contract’
(B) What are the rights of a surety against a creditor ? 5
Answer :

Q. 2. (A) When is an agent personally liable for contracts entered into by him on behalf of his principal ?
(B) Write a note on Quasi Contract. 5
Answer :

Q. 3. (A) “The Indian Partnership Act has effectiveiy en¬sured the registration without making it compulsory.” Elucidate this statement.

(B) What is meant by a negotiable instrument ? 5
Answer :

Q. 4. (A) Distinguish between ‘dissolution of partnership* and ‘dissolution of firm’. How can a firm be dissolved ? 10

(B) Explain the exceptions to the rule of Caveat Fmptor. 5
Answer :

Q. 5. (A) “No seller of goods can give the buyer of goods a better title than what he himself possesses.” Examine this state¬ment and give exception to this rule, if any. 10

(B) Define Bill of exchange. 5
Answer :

Banking Law and Practice

Q. 6. (A) The relation between banker and customer is pri¬marily that of Debtor and Creditor. How does this differ from similar relationship arising out of ordinary commercial debts. Discuss. 10

(B) “Is a banker legally bound to honour his customer’s cheques ?” Discuss.
Answer :

Q. 7. (A) Explain the legal position of wrong entries in the pass book.

(B) What precautions a banker should take while opening the current of joint Stock Companies?
Answer :

Q. 8. Distinguish between secured and unsecured advances of the bank. What precaution should a banker take while making unsecured advances?
Answer :

Q. 9. (A) Define ‘Endorsement’ Explain the essentials of valid endorsement.

(B) Explain ‘Payment in due course’.
Answer :

Q. 10. (A) Discuess the rules regarding the presentment for payment. When is the presentment for payment not necessary?

(B) Explain the privileges of Holder in deu course.
Answer :

(Company Law)

Q. 11. What is prospectus? Is it necessary for a Public Company to issue prospectus? Explain the consequences of misstatement in a company prospectus.
Answer :

Q. 12. (A) What do you understand by irregular allotment? What are the consequences of an irregular allotment? 10

(B) “Directors are trustees of the company.’’ Discuss the state¬ment. Answer :

Q. 13. (A) “A certificate of incorporation is conclusive evi¬dence that all the requirements of the Company Act have been complied with.” Explain. 10

(B) Discuss the provisions of company law on Redemption of Redeemable Preference Shares. Answer :

Q. 14. Distinguish between:
(A) Memorandum of Association and Articles of Associa¬tion;

(B) Public Company and Private Company.
Answer :

Q. 15. Explain the following:
(i) Pre-incorporation Contract;
(ii) Quorum;
(iii) Doctrine of Indoor Management.
Answer :

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