Business Law External Correspondence Previous Year Question Paper Year 2005 : IInd Year

SECTION ‘A’

Q. 1. (a) “An agreement enforceable at law is a contract.” Explain.
(b) Distinguish between void agreement and voidable con¬tracts.
Answer :

Q. 2. (a) Define consideration. What are its legal rules ? 10
(b) Distinguish between a contract of indemnity and a con¬tract of guarantee. Answer :

Q. 3. (a) Explain the rules regarding transfer of ownership from seller to the buyer. (b) Distinguish between a condition and a warranty. 10
Answer :

Q. 4. (a) Explain the true test of partnership.
(b) On what grounds can a court order dissolution of a part¬nership firm ? Answer :

Q. 5. (a) Explain the characteristics of a negotiable instru¬ments.
(b) Distinguish between a bill of exchange and a promissory note.
Answer :

SECTION ‘B’
(Banking Law and Practice)

Q. 6. (a) Define a customer. What are the obligations of a banker towards his customer ?
(b) When must a banker refuse payment of a cheque.
Answer :

Q. 7. (a) What precautions should a banker take while open¬ing and operating the account of a minor ?
(b) What are the general principles of lending by a bank ?
Answer :

Q. 8. (a) Why is crossing on a cheque ? What is the effect of not negotiable crossing ?
(b) Explain briefly the various kinds of endorsements. 10
Answer :

Q. 9. (a) Define a negotiable instrument. What are its pre¬sumptions?
(b) Distinguish between a cheque and a bill of exchange. 10
Answer :

Q. 10. Write short notes on any two of the following :
(a) Cash credit and overdraft;
(b) Clayton’s Rule;
(c) Holder and due course.
Answer :

SECTION ‘C’
(Company Law)

Q. 11. (a) “A company is a separate entity distinct from its members.” What are its exceptions ?
(b) What is allotment ? What restrictions have been imposed on allotment of shares? Answer :

Q. 12. (a) Distinguish between Memorandum and Articles of Association.

(b) “A company can alter its articles without any limitations.” If not, what are the restrictions ? 10
Answer :

Q. 13. (a) What is annual general meeting ? What business is transacted at such a meeting?
(b) Distinguish between ordinary resolution and special reso¬lution giving examples.
Answer :

Q. 14. (a) What is doctrine of indoor managemen ? What are its exceptions?
(b) On what grounds can eompulsory winding up be ordered?
Answer :

Q. 15. Write notes on any two of the following:
(a) Statement in lieu of prospectus;
(b) Depository system;
(c) Powers of directors.
Answer :

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